As a self-employed person, I found myself cutting a check to the government today. I always laugh at the moronic people who are so gleeful about receiving a return. I call them moronic because who in their right mind loans money to somebody for a whole year without collecting interest? One should be claiming all they can to minimize the deduction taken out of their checks. Actually, I wish everybody had to wait until April 15th to pay their taxes and then this country would have a true uprising and have to change the tax code.
Now I get to look forward to receiving that “rebate” check from the government. I’m just giddy about what to do with it. Actually my plan, which will undoubtably stimulate the economy, is to send that check right back to the government to cover estimated taxes for 2008. For those who do not pay taxes in that way, my advice is to save that money because you are going to need it. To put this into perspective for you, let’s say you get $600.00 as your rebate. The price of gas is going up on a daily basis right now and this morning I spent $50.00 to fill up my mini SUV that gets 24 miles to the gallon. I have to fill up at least twice a week because I use my car alot for my business. So that runs me about $100.00 a week. With that rebate and the price of gas going up I will be able to fill my car 12 times or for 6 weeks. All of a sudden that new HD television isn’t looking so wonderful, right?
I found this great article that I recommend reading that has some great points and a pretty reasonable solution: http://12angrymen.wordpress.com/2008/04/15/end-the-tax-nightmare-red-herrings-and-true-reform/