April 30, 2007 @ 09:16
Today is tax deadline day and this day always reminds of how bizarre our system is.
This is one of those years when I actually got a refund. So did my wife and my son, but my daughter had to pay 13 bucks.
Like everyone else, when my tax guy told me I was getting a refund I got that feeling of exhilaration like I had won a raffle or some modest jackpot and that's why our system is so stupid.
This isn't found money or extra money or any other kind of a windfall. It was my money that the government had control of up until about two weeks ago. I just got back what was mine in the first place.
Lucky for me I'm not in a situation where that money was make or break for me, but there are lots of people who could really use the money the government holds on to for most of the year.
My son is a great example. He was lucky enough to get a great summer job last year that paid him over 20 dollars an hour. But it was only for a couple of months so the final total wasn't that excessive when you consider what it costs to go to school.
Problem is, because he made such a large hourly wage he was taxed to the hilt, so from the beginning of September to the middle of April the government held on to a couple of thousand dollars he could have put to great use during the school year.
He got back every penny he paid in tax, but he had to go several months without it while the government used it.
Needless to say the money has come in handy because it was like a forced savings plan, but that's not the point.
The point is, the savings plan paid no interest and making deposits wasn't an option.
Certainly there's got to be a better way.
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