Today is Tax Day and all across the United States, legal, law-abiding citizens are doing something they would rather not do, but do so we can continue to be the greatest country in the world. They are paying their taxes. Whether you have already filed and received your refund or are a last minute filer because you owe taxes, paying taxes is a necessary evil to maintain the freedom we enjoy.
Taking the policies of the current administration out of the picture for a moment, we should all do our fair share to carry the load that freedom brings. The problem with most is deciding what our fair share really is. I am all in favor of a simple flat tax, where everyone pays a simple percentage of their income. I am not naive enough to think that even that idea has a few questions attached to it. The first is what about itemizing?
Regardless of which tax policy we have in place, today is the day we show our true patriotism by doing what is expected of us. I just checked our online account and verified that my $172 has been sent to Uncle Sam. What about you? Are you a late filer? Have you already received your refund? What are you going to do with it? Save it? Spend it? Invest it?
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{ 2 comments… read them below or add one }
My wife and I got a large refund this year after many years of owing Uncle Sam come April 15th. This was the first year we paid our taxes quarterly and based on previous years, we set aside a certain amount that we felt would get us to be about even. It was based, mostly on our investments which had done fine until this year. So, the one bright spot as I watched out portfolio of investments tank by 25% was the money we got back. Our plan with it at the moment is to reinvest it since it came from our investments in the first place. We have adjusted out quarterly payments downward as well which means less dollars coming out of our investments.
@BobV – There’s that silver lining! Although reinvesting won’t ‘stimulate the economy’, I commend you on taking care of you and your family.
Keep up the good work!