Dateline: 18 March 2014
|Herrick's Spring Vacation 2014|
I think I've griped here about income taxes every year since 2005 (when I started this blog). Each year since then I have made more money with my Planet Whizbang business and I have paid more money to the government.
It boggles my mind when I consider how much money the government takes from me. I work hard for it, send a large portion of it to them quarterly, and they squander it in ways that make me angry. Worse yet, they don't just squander the money that hard-working, productive people like myself send them, they also borrow and squander the money of future generations. It is an immoral system, for sure.
When I was elected to the town board of my small, rural township 14 years ago, I was shocked to find out that the annual budget contained two thousand dollars for senior citizen bus trips. The taxpayers were paying to charter a bus for older folks in the town to take day trips to museums and plays. I asked how long the town had been paying for that. They told me, "forever." I said that's not right, and another board member quipped, "Well, you can tell them that!"
In time, we eventually cut that item out of the budget. We also, with my encouragement, cut out the annual payment to send town kids to a summer recreation program in a neighboring town. This has met with some resistance from a few people in the community, but my argument is that using tax dollars to send kids to summer camp isn't right. If I were to ask the taxpayers of our town if they want their tax dollars going to pay for other parents to send their kids to camp, I'm sure that the majority would say no. If parents want their kids to go to camp, they can pay the cost themselves. Another board member likened it to the town paying for some parents to send their kids to a baby sitter.
Like most every small rural town in America, ours is fiscally conservative. We are very careful with how we spend taxpayer dollars. And we do not have any fiscal problems. Taxes in our town have not gone up in several years.
If that same small-town rural fiscal responsibility could be applied to our states and the federal government, this country would not be in the sorry financial mess we're in today.
The American dollar, once "good as gold" will one day be obsolete. The nations and the people of the world are realizing more and more that the dollar, and dollar-denominated assets are not a safe investment. They are not buying our debt like they once did. Now our government creates money out of thin air and uses it to buy our own debt. It is so bizarre that it seems unbelievable. But that is what is happening. It is a desperate non-solution.
The American dollar will one day no longer be the world's reserve currency. When that happens, life in this country will change. Things will get very expensive. Life will get much harder. This will happen. It is just a matter of time. Most Americans are blind to the coming reality.
I hate tax time.