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Fun on Friday: The Tax Man Cometh

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It’s time for Fun on Friday and I have to be honest — I’m not feeling very fun.

Why?

Because the tax man cometh! And no matter how you slice it, taxation is not a fun subject. It’s no wonder “death” and “taxes” are often mentioned in the same breath.

But April 15 is lurking right around the corner and that means it’s almost tax day.

This is the time of year we find out who is a procrastinator and who isn’t. The guy sitting in line at the post office at 11:55 p.m. Monday – procrastinator.

No. Taxes aren’t fun. But you know what is fun? Reggae music. You can write the darkest lyrics imaginable, set them to a reggae beat and viola – you have a happy upbeat song. You can be be-bopping along to a reggae song and suddenly realize you’re singing about genocide in Rowanda. It’s kinda weird.

Well, the other day, I found a reggae song about taxes. It’s by Lucky Dube and it’s called “Tax Man.” Check it out. You’ll have to admit, it’s pretty fun.

And the lyrics are darn poignant. (They are at the end of the post.)

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

Let’s be honest — not a whole lot. I mean, 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, we’re getting hosed.

Some people claim that taxation is the price we pay to live in a “civilized” society. But given the fact that the vast majority of our tax dollars fund wars, I kind of question that notion as well.

On the plus side, we do get Donald Trump’s Twitter account. At least that is entertaining.

Seriously though – nobody likes taxes. Even the lefties who sing the glories of taxation do everything they can to avoid paying them. I’m always amused when billionaires like Warren Buffet and Ray Dalio start yammering about raising taxes on the rich. They do realize nobody is stopping them from paying more, right? I mean, you can make a voluntary donation to the US Treasury Seriously. There’s a link for that. I’m not going to bother to hunt it down right now because I’m pretty sure you aren’t going to run out and donate to the IRS.

Anyway, as my mother-in-law often says, “It is what it is.” Whether we like it or not, the tax man 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.

In the meantime, enjoy a little reggae music and have a good weekend!

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

Fun on Friday is a weekly SchiffGold feature. We dig up some of the off-the-wall and off-beat stories relating to precious metals and share them with you – with tongue firmly planted in cheek. Click here to read other posts in this series.

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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.
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