It’s always good to make sure I’m getting my money’s worth. I’m about to write a check to the IRS and I just did a little calculating on just what I’m getting for my money. I got a little help from a scholar at Cato, Richard Rahn:
First, I’m getting the best politicians that money can buy. For a current list I need go no farther than to Judicial Watch which provides the top 10 for my consideration, including some I never heard about, like Vernon Buchanan, a Republican from Florida:
In July 2012, the House Ethics Committee, after a haphazard investigation, reported that Rep. Vern Buchanan (R-FL) had omitted information on his financial disclosure forms over four years. However, the ethics committee took no action because once caught, Rep. Buchanan evidently corrected the “errors.” What, exactly, were the errors? In his disclosure statements for 2007, 2008, 2009 and 2010, Buchanan failed to report all of his positions or ownership interests in six entities and income received from the entities.
Second, I’m getting Medicare paid for by others – my son and his generation, soon to be joined by his sons and their generation (I plan to live a long time and I’ll need them to support Medicare to support me). It’s going to take a lot of money because Medicare is so corrupt that it wastes a third of its revenues.
Next, I’m getting a tax code that is so complicated that I can no longer file my taxes by myself. I expect it will take at least a full day of my time after I’ve collected, sorted, filed and then recorded all my receipts. That’s a day I can’t get back. But I’m not alone. For whatever comfort it gives me, others will waste 6 billion hours doing their taxes as well.
In addition, I’ll enjoy the privilege of paying taxes on interest that hasn’t kept up with inflation. If inflation is running at 2 percent a year (John Williams at Shadowstats has a vastly different opinion on that) and my savings is earning 1 percent (that’s a generous assumption), I’m going in the hole by paying taxes on that interest.
I get to enjoy a 6-minute-long video that cost the IRS (that’s me and you, folks) $60,000 to produce that was so bad that the IRS was forced to apologize for it. They didn’t offer to refund the money to the taxpayers but hey, an apology is an apology. That’s got to be worth something.
When I write the check on Monday, I’ll feel like I’m really getting more than I deserve.