Death and taxes

By Tom Haughey

They say there’s nothing certain except death and taxes (and I might add death taxes). Politicians perpetually demand that everyone “pay his fair share.” That’s a euphemism for paying more, sometimes a lot more. Who, I wonder, is the logical arbiter of said fairness? Shouldn’t it be the taxpayer himself, since he’s the only one acquainted with all the nuances of his lifestyle? Yet sadly it is never the taxpayer charged with determining what constitutes his fair share. Nor is it even the IRS. In many cases it’s ginned up public opinion. I read a news account today berating our governor for only paying a $100 this year on income of over $130,000. Reading through the article, however, it turns out that the low tax amount was caused by a combination of legal deductions and thousands of dollars in capital losses in the stock market. Is income really income if it is offset by huge losses? Clearly the reporter was trying to turn the weight of public opinion against the governor, although he had complied with all IRS rules.