Lynne Stevens
Thank goodness for tax day!
Bet that got your attention.
Yes, it’s the time of the year to file for that refund. Won’t that nice tax refund come in handy to give attention to the little repairs that have been put off on the truck; paying off some high-interest credit cards; or just stashing it away for emergencies, like a mental health weekend getaway?
Then, there is the other group who must account – in detail – to the government and pay by April 15. Once your income exceeds $184,500, those folks get a tax break. You no longer have to pay Social Security taxes on any amount over the 184,500 for the rest of the year.
On the other hand a person making $50,000 will be paying Social Security tax on their full income for the rest of the year. Considering that the Congressional Budget Office has stated if adjustments are not made, it is estimated only about 75% of current benefits can be paid to seniors in about 10 years – should this come to pass – it is bleak to think what could happen in Graham County to our parents and grandparents with no other source of income. Eliminating the cap together with some other measures could stave off the prediction of partial Social Security payments in 10 years.
No one likes paying taxes – including everyone I know – yet our disdain is not thought through. North Carolina state income tax for 2025 is 4.25% and in 2026 it will be 3.99%. Those taxes pay for the infrastructure of the state, including contributions to healthcare, schools, hospitals, and everyone who collects trash and/or maintain landfills. Then there are the courts, jails and probation officers and the Department of Social Services – which helps to keep kids and older adults safe. State and federal grants often help pay for other things like fire trucks, police cars, snow plows and salt for snow-covered roads and sewer treatment plants. We pay to keep the computers humming happily for Graham County staff, provide office space, office supplies, etc.
See where I am going? Taxes are necessary for modern life.
Since taxes are our hard-earned money going to federal and state governments, I want it to be spent wisely. In my opinion, if governments cannot properly monitor the money for various projects – big and small – it would be best not to give it out at all. It is unfortunate that when the fox watches the hen house – with no one to keep him out – he will get what he is not entitled to. That is why the government must be vigilant to monitor clear rules of the road, with swift consequences for the dishonest.
The Department of Social Services scandal of a few years ago in Cherokee County cost its citizens increased taxes. Again, if there had been proper oversight, this scandal may not have happened.
Taxes are a necessity. Strict supervision is an obligation – not an option.
Lynne Stevens writes a bi-weekly column for The Graham Star. She can be reached via email, geminga@mailfence.com.