Death and Taxes

Benjamin Franklin, America’s polymath extraordinaire, is credited with uttering one of history’s most famous – and perhaps least celebrated quotes:

“Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except Death and Taxes.”

Benjamin Franklin

While the sentiment might lack inspirational flair, its truth has only become more evident over time.

Certainty not Doom

There are certain givens in life, the Sun will rise tomorrow, the tide will continue to roll in. However, in Cosmic time even these may not be true. Death however, is the inevitable end and hangs over all of us. Taxes, while certainly less dramatic, are just as inescapable. While certainly Death is a morbid topic, Franklin’s quote was meant to project certainty and stability into a young nation with a sense of optimism for our future, and not foreshadow a pending doom. Taxes are the lifeblood of any functioning society, funding essential services like infrastructure, education, and national defense.

Civic Duty

Let’s dispel these notions and explore the true meaning of Franklin’s words in the context of responsible citizenship. The idea that taxes are a grudge, a forced purchase, something to be minimized or evaded at all costs, disregards the fundamental social contract that binds us together. We live in a civil society, a complex organism that relies on a shared investment for its well-being. Roads, schools, hospitals – these aren’t built and maintained by magic. They require resources, and those resources come from the collective contributions of its citizens – in the form of taxes.

This doesn’t mean there isn’t room for debate. Tax policy is a complex beast, and there’s always a conversation to be had about fairness, efficiency, and how tax dollars are spent. At the Tax Project Institute, a non-profit dedicated to Civic Education and Fiscal Responsibility, is committed to promoting transparency and openness in tax policy. We believe a well-informed citizenry is essential for a healthy democracy.

Here’s the key takeaway: we all have the legal right, and even the moral obligation, to minimize our tax burden through legitimate means. Deductions, tax breaks, and strategic financial planning are all part of responsible financial management. But this right exists within a larger framework of civic duty. Taxes are the mechanism that builds and maintains our society. By contributing our part, regardless of how large or small, we make investments in our future that benefits us all, creating a more secure, prosperous, and livable environment and everyone in Society plays a role.

Franklin’s quote isn’t meant to be a harbinger of doom. Quite the opposite, it’s a reminder of life’s realities and the framework within which we operate and his hope for a more perfect future for our Nation. Taxes might not be glamorous, but they are a cornerstone of a thriving nation. The Tax Project Institute advocates for a tax system that is transparent, open, efficient, and promotes economic prosperity. But ultimately, it’s up to each citizen to embrace their Civic responsibility and contribute to the collective good.

Misinformation and Bad Advice

Yet, in the age of social media and misinformation, myths about taxes being optional or somehow avoidable have begun to spread³. As we approach Tax day, misinformation, bad advice, scams, and outright false hoods abound and appear to be on the rise. The IRS often puts out guidance to beware of such dubious information and schemes each year (Advisory)¹. Increasingly, in our hyper partisan Nation, trust in traditional media is on a serious decline, and more and more people are turning to alternative channels and social media as their primary news sources. In fact, many now believe that they are being misled by traditional media². In many cases, you can find valid, and fact-based data, often not covered in traditional media, but you are also likely to encounter questionable to outright false information. Use your best judgement, be skeptical, and discerning, and know no matter how much we want it to be true, our obligations as citizens do not leave us until Death. So, the next time you pay your taxes, you don’t have to love them, you don’t have to like them, but know that it is an investment in the future – your future, and future generations of our nation we all share.

Citation

1. IRS https://www.irs.gov/newsroom/dirty-dozen-taking-tax-advice-on-social-media-can-be-bad-news-for-taxpayers-inaccurate-or-misleading-tax-information-circulating
2. Fortune https://fortune.com/2023/02/15/trust-in-media-low-misinform-mislead-biased-republicans-democrats-poll-gallup/
3. Washington Post https://www.washingtonpost.com/business/2024/04/08/tiktok-tax-advice-misinformation/