Thursday, December 16, 2010

Random Thoughts on Taxes

The media these days are consumed by the tax situation, specifically, the expiration of the Bush tax cuts at the end of the year.  After hearing the "umpteenth" report on the present tax bill in the Congress, my mind began to randomly wander down the "tax road" of my life.

1.  Began working and paying federal income taxes on what I EARNED.
2.  Also, paying taxes to support those presently retired (social security).
3.  Oops, also from the same paycheck I pay Medicare taxes.
4.  Nuts, forgot about state income taxes coming out of that same check.
5.  Oh, and if you happen to live in St. Louis City, you have to pay city taxes as well.
6.  Enough on the paycheck.  Now I go to the store and make a purchase.  SALES TAX.
7.  My purchase was an automobile.  Registration fee (isn't that really like a tax?).
8.  Must buy gas to run that car.  I take what money is left from my already taxed paycheck and buy gas.  Of course I must also pay a gas tax.
9.  Every year I get a bill from the city:  Personal Property Tax!  More of my paycheck for owning a vehicle on which I already have paid taxes on.
10.  Must have a place to stay so I purchase a home.  Not only must I pay sales tax, I now must pay REAL ESTATE TAXES every year I own the home.  Why must I pay more taxes each year on property I already bought and paid taxes on?
11.  Part of the tax bill under consideration includes a reduction in the Estate Tax from 55% to 35%.  That means that WHEN I DIE, my heirs must take whatever I have left from my previous paychecks and send 35% of that already taxed money to the government.  Of course, the Estate Tax is actually a Death Tax.

I really haven't put much thought into this but I am certain there are taxes I am overlooking.  But, after writing the above 11 points, I've come to the conclusion that the party getting rich in this country is not me; its UNCLE SAM!

To think our founding fathers started a revolution over things like a stamp tax and a tea tax.  Even King George never put an income tax or death tax on their backs!