Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

The Tax Man Cometh; He Always Does

  by    0   1

Monday was tax day.

I don’t know about you, but my wallet is lighter. As always, I had to write a big check. But I took solace in the fact that I’m helping create a more civilized society!

That’s the mantra, right? Taxes are the price we pay for a civilized society. That sounds like something a tax collector would come up with.

Anyway, the government pushed the date back a couple of days from April 15  to April 18 this year due to a holiday falling on the 15th. You might think I mean Good Friday, but I don’t. The government doesn’t celebrate such things. They pushed back tax day because the 15th was the Emancipation Day holiday in Washington, DC, commemorating the abolition of slavery in the nation’s capital.

So, we got a little reprieve. But as they say, nothing is certain but death and taxes. The grim reaper and the taxman always cometh eventually.

If you got a refund, you probably went ahead and filed earlier this year so you could get that nice check from Uncle Sam. I did not get a refund. I’m self-employed. That means I write checks. Therefore, I put off filing until the last minute. That means I had to write that big fat check to the IRS on Monday.

I wish more people actually had to write that check. The fact that so many people get refunds makes tax day feel like a holiday for most Americans. But trust me, you’re getting ripped off too. They just hide it from you.

So back to the question at hand: how does taking money from me essentially at gunpoint make society more “civilized?” I wouldn’t categorize stealing as civilized. And that’s exactly what happened on Monday. The IRS stole a chunk of my productive resources.

Yes – I’m saying taxation is theft.

Or maybe extortion is a better word.

But I’m supposed to understand that the government is going to take its ill-gotten gains and make the world a better place.

That sounds good in a political speech, or maybe coming from a civics teacher, but it’s propaganda spin.

Here’s the real truth: taxation is the price we pay for overreaching, unconstitutional government and that price tag is going up by the minute.

In fact, taxation doesn’t begin to pay for all of the government we’re getting. Just look at the most recent deficit numbers. Of course, we still pay for it via the inflation tax.

Given the price tag, we should have a lot of civilizing at this point. I think we’re getting hosed.

Reggae artist Lucky Dube gets it. He performed a song called “Tax Man.” The lyrics are pretty poignant. You can read them at the end of the post.

Basically, he asks the question, “What have you done for me, Mr. Taxman?”

Well, if you ask me – not a whole lot.

OK, so we get roads. But if you’ve driven through Ohio lately, you’ll quickly come to the conclusion that if that’s the best case to be made for taxes, the whole argument falls apart. Seriously, it’s amusing to me that some people think roads are the crowning achievement of government – as if without a bunch of politicians, nobody would be able to figure out how to lay a ribbon of concrete from point A to point B.

Anyway, as my mother-in-law often says, “It is what it is.” Whether we like it or not, the taxman cometh. The best we can do is try to minimize his take as much as possible.

There is some good news on that front. You can avoid IRS reporting requirements on precious metals, even on large-scale purchases. You just have to know the rules. SchiffGold’s Guide to Tax-Free Gold and Silver Buying provides the information you need to navigate the complex world of IRS reporting. You can download it free RIGHT HERE.

I pay my gardener to clean up my garden
I pay my doctor to check out da other ting
I pay my lawyer to fight for my rights
And I pay my bodyguard to guard my body
There’s only one man I pay
But I don’t know what I’m paying for
I’m talking about the taxman
I’m talking about the taxman
I’m talking about the taxman
What have you done for me lately
Mr Taxman
What have you done for me lately
Mr Taxman
What have you done for me lately
Mr Taxman
What have you done for me lately
Mr Taxman
You take from the rich, take from the poor
You even take from me, can’t understand it now
I pay for the police to, err…I don’t know why
‘Cause if my dollar was good enough
There wouldn’t be so much crime in the streets
They tell me you’re a fat man
And you always take and never give
What have you done for me lately
Mr Taxman

Tax Free Gold and Silver Buying Free Report

Get Peter Schiff’s key gold headlines in your inbox every week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!

Related Posts

UN Agency Warns of Global Recession Due to Tightening Monetary Policy

The United Nations Conference on Trade and Development (UNCTAD) got it half right. The UN agency warned that there is a high risk of a global recession due to central banks tightening monetary policy to fight inflation. But the solutions offered reveal that the UNCTAD has no idea what causes inflation.

READ MORE →

Hurricane Cleanup Will Stimulate the Economy? Not So Fast!

If the Keynesians are right, Hurricane Ian will create an economic boom here in Florida. After all, breaking windows creates demand and that stimulates the economy. And after this massive hurricane cut through Florida, there were a lot of broken windows — and much worse.

READ MORE →

This Looks a Lot Like the Dot-Com Bust With One Big Difference — Inflation

This is starting to look a lot like the popping of the dot-com bubble with one big difference — inflation. Beginning in mid-June, we saw a significant bear market rally in stocks. But the recent declines have wiped out those gains and more. For instance, the Dow jumped 14% during the 2-month rally. By the […]

READ MORE →

Gold Is One of the Best Performing Assets of 2022

Given historically high inflation, why haven’t we seen a big rally in gold and silver? There are a number of factors that have weighed on precious metals, but as the World Gold Council points out, it’s important to put gold and silver’s recent price movements in a broader perspective. In fact, gold has been one […]

READ MORE →

Feelings Trump Economics: Price Gouging Edition

Hurricane Ian is taking aim at Florida. That means there is already talk of “price gouging.” People have a visceral emotional reaction to people raising prices during a disaster. But it is nothing but feelz. In fact, “price gouging” serves an important economic function. Not allowing prices to rise actually causes more harm.

READ MORE →

About The Author

Michael Maharrey is the managing editor of the SchiffGold blog, and the host of the Friday Gold Wrap Podcast and It's Your Dime interview series.
View all posts by

Comments are closed.

Call Now