Hey Kids! Do you know what is so special about this month, at least for the rulers of our country? 

You know the month is April. Considering what follows, it makes sense for April Fool’s Day to start the month. Then your taxman comes calling in the middle of this otherwise beautiful spring month.

The Beatles’ song “The Taxman” by George Harrison sums up the concept of taxes. We include a few lines for your edification and nodding head ire.

“Let me tell you how it will be
There’s one for you, nineteen for me
‘Cause I’m the taxman, yeah, I’m the taxman

Should five per cent appear too small
Be thankful I don’t take it all
‘Cause I’m the taxman, yeah, I’m the taxman

If you drive a car, I’ll tax the street
If you try to sit, I’ll tax your seat
If you get too cold, I’ll tax the heat
If you take a walk, I’ll tax your feet

‘Cause I’m the taxman, yeah, I’m the taxman.”

A recent conversation with our accountant set the magma in this woman’s blood boiling. Please do not jump to conclusions. The seething anger is not toward the messenger but rather the folks who wrote the laws to flood more money into the government coffers.

Did you know that taxes on Social Security income is 85%? But “At age 65 to 67, depending on the year of your birth, you are at full retirement age and can get full Social Security retirement benefits tax-free.” Of course, if you have retirement income from an IRA or 401K, your taxes will churn out funds for our “friends” in Washington, D.C.

Can the tax pill go down easier and perhaps make us feel better about our plight? Other countries have it worse than we do. Germany’s taxes fall hardest on single folks with the highest incomes, followed by Belgium, Lithuania, Denmark, and Slovenia. However, “Lithuania, Turkey, Denmark, Finland, and the Netherlands have the highest taxes for married couples with two children.” (Investopedia.com)

Keep in mind the country with the most significant social services, topping the list, is Germany, which soars into the stratosphere.

If you file income tax as a married couple with children in most countries, things are a little bit easier. However, having and raising children is an expensive and lifetime investment, even if you receive an occasional tax break.

Should you doubt this, consider this. The extra expenses start when you buy the little test kit, the results of which will change your life. Home pregnancy tests cost between $8 to $15. And that is just the beginning. If all goes well with a pregnancy, the average amount you pay for prenatal care is around $2,000.

Then comes the birth with all the added expenses. Then follows the formula in disposable containers. Along with a landfill’s worth of dirty diapers because washing cloth diapers may be eco-friendly but gross. Should you doubt this, when this woman was a tender 14-year-old, she babysat for a family with a tiny poop machine known as a baby.

You guessed it. The mother used cloth diapers. The person changing the diaper (the parent or the babysitter) had to rinse the poop in the toilet bowl before dumping the dirty diapers into the to-be-washed diaper pail.

That odiferous experience made our younger self swear only to use disposable diapers for any potential and future child. After two children, our Pampers came in cases. When you consider the yuck factor, it was money well spent.

When you factor in furniture, clothing, education, and other things that pop up unannounced, the basic cost for having and raising a child is well over $200,000. If you are lucky, the child care tax credit is $2,000 until they reach 17 or 18. That is barely chump change compared to the amount you will spend on every child throughout their lives. In other words, children are a lifetime investment, usually your lifetime. But do not count on the taxman’s help in carrying the load once you have children.

The taxman giveth and taketh away with a massive smile on his face.

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