Smart Way #52: Take care of the goose that lays the golden eggs; pay your taxes.

Nobody is crazy excited about a portion of their wages deducted to pay tax, and yet our taxes pay for the services that we expect and often take for granted. Schools, roads, general infrastructure, hospitals, the defence force, the police force and help for those in need, are all paid for with tax dollars.

In his book Seven Strategies to Wealth and Happiness, Jim Rohn describes taxes as ‘the care and feeding of the goose that lays the golden eggs’. He says, ‘It’s so important to feed and care for it, even if we might all agree that the goose eats too much! But then, don’t we all?’ Rohn says to be careful of accusing the government of what you’re guilty of yourself.

We have the tendency to look to the other guy to cut back when we want to continue to indulge. We may not agree with all the ways our taxes are spent, but we need the government to continue the services on which we depend. If you want more control over this, make sure you vote!

Even though it’s tempting not to disclose all your earnings, you’ll very likely get caught if you evade paying your share of tax. Likewise, don’t be ignorant of the tax laws and pay more than you have to. Be savvy and respectful and ‘treat the golden goose with respect’ for the benefit of us all.

Smart Way #52 of Making It on My Own; 52 Smart Ways to Smash It in the Real World.