Wednesday, December 28, 2011

Why I Hate Taxes


In a recent poll published by the Pew Research Center, people were asked what bothers them most about taxes. The results were not what I expected, but were interesting nonetheless. 57% of the respondents were bothered most because they felt that the rich were getting away with not “paying their fair share”.

Honestly, I don’t mind paying taxes in general because I understand that they are a necessary evil, but there are reasons why I hate them too.

Here -- in order of dislike -- are my own personal reasons why I hate paying taxes.

#1 -- Inefficient Use
As I said, I really don’t mind paying taxes. My problem is more with the way in which our government puts them to use. Having them frittered away wastefully or used in inefficient ways bothers me in the utmost.

Use them to fix our infrastructure, use them to keep us safe, use them to build new parks and educational facilities, but don’t give them to big banks, don’t use them to pay ridiculous government salaries, and don’t use them to give to foreign countries that hate and despise us. Seeing my money fruitlessly frittered away, is frustrating to say the least.

#2 -- Unfair
It’s not so much that I feel the rich don’t pay their fair share in taxes, but rather the corporations. When I read about huge companies paying less into our tax system than I do, that is extremely agitating. Companies that reap the rewards of being housed in a country protected and defended with taxpayer money should be paying their fair share just like everyone else.

#3 -- Inconsistent
I always do my own taxes, yet I’ve never encountered a tax year where I’ve been able to follow the exact same format as the previous year. While sometimes this is due to changes in filing status, change of location, job change or similar personal adjustment, it doesn’t change the fact that our tax code is constantly evolving.

From state to state and year to year, there are constant adjustments to state and federal tax codes, some of which come at the last possible moment in the year, adding a further strain to those of us who must attempt to complete our own annual taxes.

#4 -- Difficult to Understand
I heard just the other day, that the US federal tax code runs somewhere on the order of 20,000 pages. Whether this is right or wrong -- even if it’s just 1,000 pages -- in my opinion, it’s just too much.

I feel as though I am regularly trying to update and educate myself regarding tax changes and laws, and while I’m no dummy, I have to say that sometimes I find myself boggled by the series of steps I must take to come to one simple conclusion regarding a particular tax issue or calculation.

#5 -- Time Consuming
I spend hours and hours each year learning and re-educating myself to the ever-changing tax code, and completing my income taxes. This is time that I might otherwise spend in much more productive ways. I could be earning money, learning a new trade, spending time with my family, or even heaven forbid, spending some time enjoying myself away from work were it not for having to spend lengthy periods of time compiling, recording, filing, and retaining a plethora of tax documentation.






Sources:
Wolk, Martin. http://lifeinc.today.msnbc.msn.com/_news/2011/12/20/9587420-why-we-hate-taxes-its-not-what-you-think. December 20 2011.

1 comment:

  1. Your #3, #4, and #5 are probably my top 3 reasons. Ugh, taxes. It's such a hassle to do, I can't even begin to think of how my money is being mismanaged once it's out of my wallet - too depressing!

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