Tax Day - 4/17/12

April 15th is usually Income Tax Day in the U.S.

This year it has been extended to April 17th -

But LHQ explained all of that -

This little rant is for those who aren’t going to get a REFUND -

And are pissed because they have to PAY taxes on April 15.

First off -

We ALL pay taxes -

Some just pay more than others - ;))

And even though it was a LONG time ago -

I still remember a section in my college Finance class workbook -

It applies as much today as it did WAAAAY back then -

It read -


Do not try to impute any logic into the Tax Law.

Your taxes are calculated this way -

Because CONGRESS says so!!


So if you want to get pissed -

Get pissed at CONGRESS!!


And secondly -

REFUNDS are NOT magic money -

They are REFUNDS because you PAID MORE during the year -

Than you OWED on your tax return -

And if you didn’t pay ENOUGH -

You have to pay the DIFFERENCE on April 15 -

Simple -

If you had MORE deducted from your paycheck -

Or PAID MORE on your quarterly “estimates” -

You probably wouldn’t have to pay any “DIFFERENCE” -

So -

If you want a $5000 refund next year -

Just PAY in $5000 MORE THAN YOU OWE on your Income Tax return - ;))


Oh -

And if you want to get seriously pissed -

Wait until you have to pay Income Tax AGAIN on your Social Security -

You know - the FICA - that they TAKE OUT of your check -

AFTER you have paid Income Tax on it - the first time -

Because - when you retire and actually get it PAID BACK to you -

CONGRESS has decided to call some of it “Income” -

So you get the honor of paying Income Tax on it - AGAIN -

Because CONGRESS says so!! ;))



But then again - it’s probably just me.