Should Taxation & Budgeting Be Taught in High School?

An advise on Taxation & Budgeting

Unless you are very young, chances are the taxing system has changed quite a bit since you were in school. The same will happen to the next generation. The system they will use will be very different than what we have today �" probably some sort of automated online thing, where you need to click a few buttons to get it done. It makes little sense to teach something that will be obsolete in a few years. It’s better to give general knowledge, so that people are smarter and can handle any system, rather than teaching a very specific skill that will become useless.

It is even worse about finance, because people have very different ideas about what is “good” and what is “bad” and there are no simple rules one can follow. The same financial advice (like “take a loan if possible”) can have very positive or very negative results, or anywhere in between. It really depends on the situation and there is no simple rule you can follow.

When I started doing my own taxes as a teenager, I would go to the post office to get the form and sit down with a calculator and a pen and work out all the Math. Now, I upload a program, have it automatically upload my basic information from a file in my computer and enter some numbers. The program does all the computations and what not.

Had I spent a few weeks in math class learning how to do my taxes in high school, it would have been wasted time. However, I had learned enough problem solving and math at school that I was able to figure out how to do my taxes on my own. At the time, most of us did not foresee that computers would take off like they did and take over so many of our tasks.

We don’t know how taxes will be done in the future so why teach kid how to do them in school. It is best to teach them how to problem solve, write properly and communicate effective, solve math problems, research information, and to think critically. These are the skills that will allow them to solve problems and adjust to changing technologies.

Taxation particulars may change year to year. Educating people on taxation would be a way, so that they can understand how those year to year changes could affect them.

Certain particulars and rates, or occasional special credits or deductions might show up or change, but for all intents and purposes, the forms are essentially the same year over year.

IAM Group Limited Singapore’s basic guide to middle management members provides all the financing, budgeting and taxation systems one would use for and in their firm. Notable contributing members from Yokohama, Japan, Bangkok, Thailand, Malaysia and many more are always there to help out fellow managerial members.