Taxes, Taxes and more TAXES!!

Good day all. Well, not so good. It’s that time of year again when Uncle Joe and his Progressive handlers start demanding their monetary tribute. Yes, it’s time to start filling out the 1040 forms and ship your hard earned money to those far less deserving, Welfare cheats, Foreign governments that hate us, Progressives, Liberals and the political class.

I’ve just about finished mine and as expected, I will be once again chanting “I Owe, I Owe, it’s off to the IRS it goes!” As usual, I’m going to get hit over my investment portfolio. Obviously, I’m not going to tell you what I made. I’m sure some phony house committee will be more than happy to leak it to the Mostly Stupid Media.

While I do itemize, once again the Standard Deduction will be the better deal for me. However, dealing with all the investing stuff is a royal pain in the ass, especially the few stocks I have that are in foreign companies. Obviously, I’m going to wait until the last possible moment before I send Fedzilla any of my money.

As I have for the last <Censored> years, I bought Intuit’s TurboTax. I keep thinking I should use a different program, such as H&R Block. However, I was able to get this years taxes done in less than 3 hours. The fact that I have to spend this much time and money to stay out of jail is annoying. It’s long past time to scrap the current tax code and just start over from scratch.

There are those who like to push what they call the “Fair Tax.” This is a national sales tax and is expected to run about 30% of the purchase price of anything. Obviously, this is going to hit those who don’t have a lot of money the hardest, and it will cause the black market of goods and services to explode. (If the Feds think they have a problem with illegal drugs, wait until people find ways to avoid paying a national sales tax)

The “National Sales Tax is, allegedly, meant to replace the income tax. That is just a sick joke. It will be added to the income tax. No, I’m in favor of a flat tax. This is almost as complicated as the fair tax in some ways, but also much simpler. You could have one big deduction, say the first $30K of your income, indexed to inflation as your deduction. After that, you pay say 5% Basically, if you make $50,000, you would pay 5% of $20,000. Obviously, the actual numbers need to be carefully checked.

It would also require major cuts in government. Basically, if it isn’t a constitutionally mandated expenditure, close it down. I don’t see this or the UnFair tax being adopted. The politicians have to much invested in the current tax code to just toss it and start over. I do have one thought. Has anyone ever challenged the actual tax code?

I, personally, think that the current code can’t be understood and has many parts to it where if you obey one section, you are violating another. It also is impossible to understand. Even the IRS doesn’t understand it and it’s their job to enforce it. I think it would be an interesting case to bring. Imagine the panic in Congress if they had to write a new tax code from the ground up?

Well, as I said above, I owe money. No refund for me, although I’m good with that. A refund is nothing more that the government repaying their no interest loan you gave them. I set my withholding to the lowest levels I can and invest it. I may have to send some in, but I still come out ahead. In the mean time, how about clicking on the amazon links and buying stuff? Any of the links below will take you to amazon and you can search around for something interesting like a Larry Correia, Tom Kratman or Michael Z. Williamson book. Help me pay off my tax bill.

Thatisall

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