Taxation is a core function of government because it is the means through which governments raise revenue to be spent on projects for the social good. Regulations are a substantial function of most governments because they are the means through which the government protects the rights and privileges of individuals....
Taxation is a core function of government because it is the means through which governments raise revenue to be spent on projects for the social good. Regulations are a substantial function of most governments because they are the means through which the government protects the rights and privileges of individuals. Many individuals will disagree about the optimal levels of taxation, the desirability of various spending programs, and the extent to which regulations should be created or removed, but very few individuals within mainstream political thought would disagree with the need for taxation of regulations.
Most liberals and/or progressives support higher taxes (so long as the tax structure is progressive in that wealthier individuals pay more in taxes than poorer individuals) and more regulations. This is because they tend to believe that markets are an imperfect mechanism for providing for public goods and because corporations and other large entities have disproportionate bargaining power compared to individual citizens. In order to prevent the exploitation of workers and consumers and protect public safety and health and environmental health, liberals and progressives support targeted regulations meant to correct market failures and protect individuals from the power of private organizations. They also support public provision of public goods. This gets expensive, necessitating a higher taxation system.
Most conservatives support lower (and more evenly divided) taxation and fewer regulations. This is because they believe that markets are more efficient at providing public goods and responding to the desires of people. They tend to be more concerned with the individual freedom of each person with regard to government constraints (though they have far more varied opinions on constraints imposed by private entities) and with allowing each individual to spend money as they see fit. Conservatives tend to support the privatization of some public goods (like schools, roadways, air traffic control, etc.) under the belief that the market will provide cheaper and more efficient services to the public. This allows for significantly lower taxation, as the government has a lower spending need. However, individuals will likely have to spend most of the money that they used to pay in taxes, though now that money will go to private organizations.
Libertarians are more extreme in their beliefs and generally contend that the only purpose of government is the provision of public safety. Therefore, beyond the military (and potentially the police and courts) the government has no legitimate purpose in interfering with people's lives. Taxation, in this belief system, is only acceptable to the point that it provides for these minimal safety services. Regulations are likewise acceptable to the extent that they protect individual safety and property rights.