The Tax Man Cometh

For many years I have told my clients and myself that paying taxes is not always a bad thing. Paying taxes means you are blessed and making money.

Sometimes I would have to debate clients when they do not want to do the prudent thing and take “some” profit in their stock holding that has run up 500% or 2,500%…The argument usually is the same, “But if I sell, I will have to pay taxes on it.” To which I reply that the alternative is that you can wait until the stock goes down and you have a loss, then you can sell and get a tax deduction. It never made much sense to me. Especially when we are talking about long-term capital gains (holding the stock for at least 12 months).

Paying taxes, means you are profitable and making money and as a free-market Austrian capitalist, I am all for paying taxes on my gains and my “fair share.” How we determine what is “fair share” is a topic for another time.

This time however, it was painful to write that check to the federal government. Paying your fair share and rendering unto Caesar what is Caesar’s is one thing. Paying taxes on your hard earned, blood sweat and tears toil when the United States Government is running $31 TRILLION deficits is downright sinful and criminal.

When they have shown to be nothing less than reckless and irresponsible and have not balanced a single budget since the days of Bill Clinton, that is where I have a tough time writing that tax bill.

I am all for taxes for clean water, firefighters and police, quality roads, bridges, and public transportation. The problem is when you try to pass a $1.9T infrastructure bill and less than half of that bill has anything even remotely related to transportation and infrastructure, this is where I have a problem. My hard-earned money should not be going to ridiculous programs that I am against, nor should they be going overseas to fund other countries' corruption.

Happy Tax Day!