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Saturday, July 22, 2017

The Kings Golden Cup - kids story

Story! story!!.. Once upon a time, there lived a king in Kotoye village. He was quite rich and Kind.
He decided to have a party to mark his golden jubilee anniversary on the throne and his eightieth birthday.

It was an open house party for the rich and the poor alike. Friends and well-wishers were all invited : the big and small, tall and short, the leaders and the led. They were all there. It was a full house.

It was a great celebration with plenty of food to eat and drink. The musicians were not left out nor the praise singers. It was a JAMBOREE.

At last, the party was over, very late in the evening. The king retired into his inner room feeling quite happy. He wanted to have a cold drink with his cup and behold the cup was missing! What a tragedy. This was the only item the King had inherited from his late grandfather. It must not get lost.

The King raised an alarm. Everybody rose up to the challenge. The King's Golden Cup must be found. The search started that night. From house to house, Street to Street village to village the search parties went out for the King's Golden Cup.

" is it a crime to have an open door party"? People asked. This is our beloved king, his golden cup must be found. Day after day, month after months, yet the King's Cup was not found and the king was unhappy. When it was exactly a year after the party, the king came up with a decree. Anyone who got his golden cup gets a golden prize.

Then a poor man came early the following morning and humbly asked for a request "my lord" he said,  "I can get your golden cup if you grant me this request. Provide me with a very white horse and a beautiful dress, let me ride upon this white horse throughout the length and breath of this village for one whole week with some messengers and praise singers. "

The sad king agreed and the arrangement was made.  The poor man's request was granted. He ride on the white on the white horse as a Prince with praise singers going before him. They sang his praise as the King's elect for having taken the King's Golden cup. After all the king wanted to honour the one who took his golden cup and was glad to have got him at last!

One of the King's faithful servant came out in loud protest. He ordered the poor man to get down from the horse very quickly. "Show me the golden cup if you have it, " he demanded.

He rushed into his inner room to bring out the King's Golden cup to the surprise of everyone. " I should ride on that white horse, not you poor beggar, " he said as he pulled down the poor man and jumped on top of the horse.

He then rode to his fall, to his shameful end as a dishonest servant. The king got the news and sent for the servant and the praise singers. The Golden cup was taken from him and he was sentenced to life jail with hard labour.

The poor man was promoted as the King's servant to replace the dishonest one.

Honesty is the best policy!
The end of my story 
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Thursday, July 20, 2017

Taxation - Economics

  1. Taxation as we all know has so many definitions and I will highlight some definitions while you pick the one that suit you in exam condition. 
  2. This is an amount or Levi that is impose on the citizen by the government which is very compulsory to be paid. 
  Taxation is a certain set of money impose on firms, agent or components by the government.

Reasons For Taxation
1. Taxes are imposed by the government to raise revenue

2.  Taxes are imposed to curb inflationary situation in an economy.

3. To reduce the widening gap between the very rich and the very poor ( to reduce in quality too )

4.  To protect infant industry, well established industry are heavily tax by the government in other to protect infant industries.

5.  To check the consumption of luxurious goods or harmful goods. Goods that are label as harmful or luxurious are heavily tax in other to reduce the import of it.

6.  To correct balance of payment problems.  Where a country suffered for balance of payment difficulty due to excess import over export, the government as to tax imported goods heavily more than exported goods in other to stop import of luxurious heavily goods.

Common Terms In Taxation
Incidence of taxation : this refers to how the real body of tax is distributed among persons in the country.

Incidence of direct taxation : in this case of direct tax,  incidence is always on the person's that receives income.

Incidence of an indirect tax
(1). When demand is elastic the incidence of tax falls entirely on the seller of the commodity, since as a price higher than the normal price the consumer will seize to buy more of that commodity making the tax body to fall on the sellers or producer.

(2). When the demand is perfectly inelastic the incidence of the tax falls completely off the taxed commodity. Since at a higher price the consumer will still buy lot of that commodity.

Classification Of Taxation
• Direct taxes examples below
Personal income tax
Capital gain tax
Company tax
Royalties, mining rents
Stamps duties, motor vehicle license
Miscellaneous
Death duties
Airport tax

• Indirect taxes examples below
Custom duties
Excise duties
Purchase tax
Sales tax
Licenses

Advantages Of Direct Taxes
1. They are progressive in nature : The percentage levied as direct tax increases with the size of one's income which is the most ideal form of tax.

2.  Payers find them convenient to pay : This is because they know when,  how and where to pay them.

3.  They are easy to calculate : Once the number of income earners are known, income tax can be calculated.

4.  They are used to control inflation

5.  They are used to redistribute incomes

Disadvantages Of Direct Taxes
• They may cause deflation
• They are difficult to access
• Cases of evasion is high
• Discouragement of hard work
• They discourage savings.

Indirect Taxes
They are taxes levied on locally made imported and exported goods and services

Types Of Indirect Tax
1. Excise duties
2. Import duties
3. Export duties
4 Purchases and sales taxes

Advantages of Indirect Taxe
• They are not easy to evade
• They have less effects
• There is no exemption
• They cause less squabbles
• Indirect taxes yield more revenue

Disadvantages of indirect tax
1. They increase prices of goods
2.  They may cause scarcity of goods
3. They curtail investment
4. They restrict free trade
5. They lower people's standard of living

SYSTEMS OF TAXATION
Progressive tax system
Proportional tax system
Regressive tax system

Credits to the following
Agho Aiseosa ( CEO lectportal)
Our readers/sharers
Our team 
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Wednesday, July 19, 2017

Homeless not Hopeless

This poem (homeless not hopeless) is a vivid description of two kinds of people who are in the society (rich and poor).  The rich are in minority and the beggars are in majority. The beggars are poor, homeless, and are subjected to various kinds of hardship but the rich lives in good houses and enjoys the goodies in the society.
  The relationship between the rich and the beggars is that, the rich needs the beggar's blessing while the beggars needs the alms from the rich for sustenance.

The poem begins with the poet saying that the beggars who are in majority are homeless, their only domicile is the street.  Though the beggars are important in the society, they do not have house to sleep in at night. They sleep under bridges, they use cardboard as bed in stinky places while the night pour cool breeze and endurance on them. 
Meanwhile their rich counterparts in the same society sleep in warm beds with their loved ones.

The poet goes further to describe how the beggars live during the day.  It Dawn the beggars who are wanderers pack their belongings and move on with the day
 They stand, kneel, bend and beg for arms so that they can continue to live on earth.

Lastly the poet says that though the beggars are poor and homeless, they are not hopeless.  they are optimistic that one day, their harrowing condition will change to a better one.

Poetic Devices
Metaphors, Repetition, Anthesis, personification and paradox

1. Paradox
We are the lack/that take your lack

2. Personification
(I) When death opens the gate
(ii) As the night injects us with cool breeze

3. Antithesis
(I) Homeless not hopeless
(ii) As the _day_ chameleons to _night_

4. Metaphor
(I) As the day _chameleons_ to night
(ii) _Angels_ we open gates

5. Repetition
(I) "Day" is repeated in lines six (6), seven (7),  eight (8) and twenty (20)
(ii) "Lack" is repeated in lines twenty-six (26) and twenty-seven (27)

6. Alliteration
(I) "_You slump in the warmth of _your beds"
(ii) we are _homeless not _hopeless

Structure
 The poem has thirty-one (31) lines,  each of the lines in the poem paints a graphic picture of the harrowing condition of the beggars which is antithetical to their rich counterparts.

Themes
  1. Insecurity : The poem unveils The insecurity that is prevalent among the poor people. 
  2. Social stratification : In the poem, there are the upper class, the rich who lives in comfortable homes and the beggars who can Harry eat except they are given alms. 
Credits to 
Sola Owonibi ( author )
Young Aiseosa ( CEO lectportal )
Our esteem readers/sharer
Our crew  
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