Maybe we should stop withholding

The cover of Time Magazine, April 26, states every man, woman and child in the United States would need to pay $42,998.12 to erase the $13.9 trillion U.S. debt.

For most people, taxes are withheld from paychecks, etc., and people are never aware of the magnitude of withholding taxes. If people examined their pay stubs and checks, there might be an uproar.

The reality is that people don't miss the income they never touched. What if there were no withholding tax? Taxpayers would actually touch their money and pay later.

This brought me to consider current property tax bills. Oh hum, most look it over briefly and file it away for next year's tax filing. Generally, people pay their taxes from an escrow account held by the lender and rarely pay close attention to the amounts and increases from year to year.

The taxpayer does not miss money they never touched. They only care that the escrow is solvent, then leave it to the lender to pay. After all, it really isn't my money.

I wonder what would happen if property taxes and any other taxes were not withheld?

Every June and September, the taxpayer would need to write a personal check for the balance? This might be an interesting eye-opener and could lead to some interesting changes.

Marc Denny

Lake Zurich