"Fight against those who (1) believe not in Allah, (2) nor in the Last Day, (3) nor forbid that which has been forbidden by Allaah and His Messenger (4) and those who acknowledge not the religion of truth (i.e. Islaam) among the people of the Scripture (Jews and Christians), until they pay the Jizyah with willing submission, and they are subdued." [Soorah at-Tawbah, 9:29]
Explaining this Aayah in his Tafseer, Imaam ibn Katheer says:
{حَتَّى يُعْطُوا الْجِزْيَةَ** أَيْ: إِنْ لَمْ يُسْلِمُوا، {عَنْ يَدٍ** أَيْ: عَنْ قَهْرٍ لَهُمْ وَغَلَبَةٍ، {وَهُمْ صَاغِرُونَ** أَيْ: ذَلِيلُونَ حَقِيرُونَ مُهَانُونَ. فَلِهَذَا لَا يَجُوزُ إِعْزَازُ أَهْلِ الذِّمَّةِ وَلَا رَفْعُهُمْ عَلَى الْمُسْلِمِينَ، بَلْ هُمْ أَذِلَّاءُ صَغَرة أَشْقِيَاءُ
"Until they pay the Jizyah", meaning: If they do not submit (to Islaam). "With willing submission", meaning: After having control over them (i.e. Muslims have taken the land). "And they are subdued." Meaning: "They are made low, disgraced. For this reason, it is not permissible to honour the Ahl-udh-Dhimmah and nor to raise them above the Muslimeen. Rather, they are humiliated, low, miserable." [Tafseer ibn Katheer, vol.2, p.136]
That is the reason behind the Jizyah. It's not about the money.
This is the reason the `Ulamaa of Islaam have given, the Mufassiroon. Whether people will like it or dislike it is not our problem. Allaah Ta`aalaa has legislated Jizyah. Those who have a problem with it have a problem with Allaah.
Many people will read this message and hate it. Yet, none of this is my words nor am I giving "my opinion", because in Islaam, there are no "opinions". There is only what Allaah Ta`aalaa and His Rasool
صلى الله عليه وسلم have said.