It is that time of the year - time to file your taxes.
Having grown up pretty much oblivious to taxes, including the very concept of taxes, often, am in a bit of shock & agony, each time I see a shopping bill or a paycheck.
Don't get me wrong, after about 7 years of living in a tax paying nation – and paying taxes, I understand tax monies help run towns, cities and a nation. However, I sort of feel rather appalled Uncle Sam can pretty much walk away with say about 40%of my income (almost 50% if a bonus). Tax cuts are often promised, however, given the tax cut jargon politicians dish out an election season, the only nation (that I know of) who actually cut taxes in recent years, is Canada.
Being single doesn't help, 'cause, single people, get taxed at the highest bracket. The government doesn't care being single is perhaps hard enough, nope - they've got to make you pay up just for being single - or perhaps it's Uncle Sam's message to singletons - shack up or pay up. What can hurt as well, is if you are in the middle income sect, 'cause the rich, relatively, is taxed less – the low income doesn’t get taxed much or at all.
Often, I find myself asking - where all the tax monies go? And perhaps this is sort of opening Pandora’s Box of nasty questions. For instance, Social Security in the United States is a form of tax, which is used as a source of pension income for retires, as an anti-poverty program, a widow's survivor benefit, a disability check and so on (never mind it also rewards married couples more than single people, yup! sucker for being single again). However what gets my goat, is that people who are well & healthy enough to work and make a living, drive a Lexus towards the social security office and collect benefits – go figure?
Anyway, I filed my tax returns today. Fortunately I didn't owe any more, in fact had a modest refund. So am quite happy about that, never mind the sizeable chunk that's missing.
Have you filed your taxes yet?