April 15th, Extension Day!
April 15th, Extension Day!
For most of us April 15th stands for the day taxes are due to the State and Federal on your income or profits. As I see it Profits and Income are two different birds and need to be revamped as one is to survive and one is to get rich. I don’t believe we should be taxed on our income that we use to rent from the person profiting off an investment. Big difference but they are both taxed and lumped into the same category on the tax form to come up with your Gross Income.
As a business owner I have to say that this is the worst year I have had for profits. In matter of fact I have ate into my savings this year to keep my business alive in the hopes that the good ole days will return, and soon! But most business owners will file an extension today to keep from paying for last year. It is a delay and it is abused for those who do not have their business in order. The business does not know on today what monies they made last year 4 months into this year.
I file my taxes every year on the same day, April 14th so I can go golfing on the 15th. I refuse to work on the day I pay my taxes. As a Small business owner I do not get the breaks that most do. I do not qualify for all sorts of Government aid and programs because I chose to be in business. There is no unemployment, there are no food stamps, there is no Medicare or Medicare. There is nothing and if you do not show income from your business there is no loan.
I wonder how much the Governments are going to get this year compared to five years ago when all the financial ruin started. As I write this today Carl Levin is heading up a sub-committee to find out what happened to the financial world and as I read his opening statement I pondered to realize that we let the banks do it to us again as they have done in the past and that the knowledge that they will really learn is the same banks got us again as they did in the first depression as we are in a second one and far from out of it.
As Unemployment in its third tear begins to run out this June I am in fear what we are going to see next as we make believe that the manufacturing jobs are going to return. Keep on hoping that we will see the day that the wage is keeping up with inflation and the poverty level. I personally have not seen the wage go up in thirty years. People still offer me $10 hour jobs.
So today is the big tax day and most file for an extension and as an American Citizen I have paid mine in full and am damn proud of it, even if I made one quarter of what I made five years ago. I am still here and alive, getting by and supporting a system with money that I will never see benefits from because I am self employed.
