April 15th is approaching at light speed. I am sure that all of those who think Uncle Sam is a source of free money have already filed. Quite a few of them will be getting some kind of "credit", which means that all of us who are still working on our tax returns get to pay for their credit.
The Earned Income Credit. The Child Credit. The Extra Child Credit. WTF? For the record, I earn my income, I have a child, and I have an extra child. But, something tells me that I will not be getting any credit this year, or next.
I will be the first to admit that things are not as good this year as they were a few years ago. Whenever I do my taxes I get to look back at the last few years to find all kinds of numbers that the IRS wants to know about. AMT, Depreciation, Depletion, Excess contributions, etc. Looking back at the old tax returns has reminded me of how good things were even a few years ago. Geez, it seems like 20 years ago now. Is this how our grandparents felt in the 1920's?
No matter if you hire a CPA, or a tax pro, or DIY with software, you have to notice how big of a pain in the ass the whole thing is. Get all of your paperwork together and then warm up the calculator. Remember when you bought that ping pong ball for the kids? If you kept your receipt from the sporting goods store, you can write off the sales tax you paid, as long as you did not drive over 2.7 miles to get it, in a car with ABS brakes, that gets worse than 16.25 MPG. Oh yeah, if you were drinking bottled water from a foreign source while you drove, forget the whole thing. Also, if the gas you consumed that day was more than 10% ethanol, the write off is null, but you can claim a credit equal to 1/10 of your AMT in 2002. This applies only...
Who comes up with this stuff? Congress. The IRS. Presidents. Whomever came up with all of these BS rules and laws should seriously have their ass kicked. In a big way. By us.
The bigger question is why do we all put up with this? What is wrong with all of us? Can we remember what happened yesterday? Is our IQ over 50? How can it be when we keep on electing frickin stupid ass tax and spend politicians to run our country. No wonder the jokes who sit up in DC are not that scared of us. We are all big talk but no action. November 2010 will probably be the same thing it always is.