Every Type of Tax Explained

Mr. Beat explains every major type of tax and reveals his favorite types of taxes at the end. I know, he didn't cover ALL of them. Also, he really did have to pay the IRS. That was no joke.

Sources/further reading:

Snail mail Mr. Beat: PO Box 1982 Lawrence, KS 66044

Mr. Beat favorites:

Recommended books:

Studio equipment:

I use MagicLinks for all my ready-to-shop product links. Check it out here:
FTC Disclosure: This post or video contains affiliate links, which means I may receive a commission for purchases made through my links.

#taxes #government #economics

A tax is a required payment to the government. You have to pay it. If you don’t, there will be bad consequences and stuff. Now, why on earth do we have to pay taxes? So the government can pay for stuff. Now, remember, as I said in a previous video, the purpose of the government is to protect society. More specifically, to resolve conflicts, defend a society from other societies, or provide public services. That costs money, and they need to get that money from somewhere.

What are they going to do, borrow tens of trillions of dollars to pay for everything? Hahahahahahahha but yeah seriously, they do that, too.

Now remember, in a democratic society, our tax dollars should ideally go where we want them to go. Understandably, many get upset when this does not happen.

Regardless, let’s go through all the major types of taxes that governments usually collect. And at the end of the video, I will reveal the type of taxes that I don’t mind so much.

In conclusion, there are MANY types of taxes I haven’t even mentioned, but those are the main types. But yeah, in general, there’s three types of taxes. Taxes on what you buy, taxes on what you own, and taxes on what you earn. So, what’s YOUR favorite type of tax? Or should I say, what’s the type of tax you hate the least amount? Let me know in the comments below.

[iammrbeat]

What is your favorite type of tax?


Thanks Adrian!

[jerkerhernback]

I have an idea. You should do a series talking about every major Economic Depression, Ressecion or Panic in US history.

[pagansbasin]

Would you mind making a follow up video about every type of tax evasion and how to do it? Asking for a friend :)

[mapk]

Ayy I was just about to comment about the Single Land Value Tax, then I reached the end of your video and I'm now hyped for a Mr. beat video on Georgism. Another great video Mr. Beat!

[cynthiasimpson]

Some years back my husband and I got a letter from the IRS stating that we were 9 cents short in the taxes that we'd paid. They said that because the total shortfall was less than 10 cents payment was being waived. Since it cost them at least $1 to mail us that statement, we wondered why they even bothered to notify us. But it was the IRS. Go figure.

[russelldavis]

Ahh nothing more nerdy than discussing taxes and being excited by it

[sexygeek]

My favorite taxes are the ones that other people pay but I don't. In my case that's excise taxes on cigarettes and liquor.

[notchuckproductions]

It also sucks that companies like Turbo Tax and HR Block lobbied congress to make flying taxes easier illegal, similar to how many countries in Europe do it. There they just send you a bill straight up telling you how much you owe, and you just have to mail it back with a check. Instead of you having to either figure it your self or pay someone else too do it for you.

[jacnel]

I just wanted to add that here in Canada we deal with the regressive nature of excise and sales taxes by providing a tax refund equal to the average amount of tax collected from those in lower income groups. It works fairly well I’d say, and is calculated and paid out automatically once someone files.

[sirlyndon]

If this video was about Taxes in Turkey, this video would be at least 12 hours long.

[Compucles]

The Joker: I'm crazy enough to take on Batman, but the IRS? No, thank you!

[DanielGalimidi]

Oh, Argentina's wealth tax was mentioned! I live there and get to explain it!
This wealth tax was introduced last year and passed this year as a measure to finance government expenditures aimed at battling COVID-19. Those expenditures include things like buying vaccines, investing on labs that can make vaccines in the country, etc. This tax was progressive and only for the wealthy, as in only people with a net worth of over 200 million pesos would have to pay it, which was equivalent to 2 million US dollars back then, and supposed to be an emergency measure. Supposedly, it's a one time thing, but we'll just have to wait and see if the government tries to make it permanent.

[noahburns]

18:53 - thank you for that summary, it simplifies the whole process into 3 manageable chunks, greatly appreciated!

[ytchip]

Didn't realize my favorite YouTube teacher was so buff 💪🏻08:36

[VagabondRetro]

Taxes. One of the few things that can simultaneously unite us and divide so sharply.

[bochuanzhang]

Mr. Beat just made this video to cover the cost of that IRS check

[skeletonkeysproductionskp]

can't wait for the Henry George video, Land Value Tax is the one!!! Did my dissertation on it and is on my political To Do List!

[lukeporras]

You forgot 1 basic kind of tax: the poll tax, also known as a head tax. It’s basically where each person has to pay a fixed tax, say $200 a year per person, regardless of wealth, income, property, etc.

It’s not used very commonly anymore, but it used to be one of the main methods of taxation.

[theinfamoust]

You forgot the ever awful, "means and use" tax. Where you pay taxes on your equipment that you use to keep your business running.

[JoshuaJCrawford]

I thought when people said Mr. BEAST they were talking about you but pronouncing it wrong lol.