A return is almost always out of the question. Plus, gift givers don’t often include a return receipt, and we all know we wouldn’t dare ask for one. I’d rather admit to a crime than confess I don’t like a gift - how insulting to the gifter’s sense of aesthetics.
And-hey, I have limited drawer space. Who can keep these unwanted gifts for six months when there isn’t any space for them? I hate clutter, and unwanted gifts are just that.
This year, I am making an effort to swiftly remove any unwanted gifts from my house without hurting anyone’s feelings…and potentially benefiting others. As the old saying goes, one man’s trash is another man’s treasure. And thank goodness for that.
From the The Guardian:
“According to research published this week by the consumer body, one in four people (24%) received an unwanted or unsuitable gift for the Christmas of 2021. Meanwhile, a separate study by the personal finance comparison site Finder said £1.2bn was wasted on unwanted Christmas gifts each year.”
Come to terms with the fact that you will never use that gift and follow these quick tips to offload those unwanted gifts:
Donate
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The most obvious choice for those unwanted pairs of mud-green sweat socks and that same fluffy robe you get every year from your Aunt Judy is to donate them. Just round up everything you don’t want and Google the donation center closest to you.
This is also a fantastic excuse to purge your closet of that pile of stuff you’ve been meaning to get rid of. A few bags of give-away-clothes will get your spring cleaning out of the way early.
Sell Them
Artificial Photography via Unsplash
Resale websites are all the rage right now. If you got a pair of pants that don’t fit or a sweater that isn’t your style, resell them on a website dedicated to just that. Sites like Poshmark, Mercari, and DePop are known for selling those trendy pieces of clothing you barely used.
Thrifting has never been hotter. Hop on the trend while people are constantly perusing sites for the hottest deal. Then reward yourself for being so virtuous, by dropping the cash on some fabulous things you’ll actually wear!
Re-Gift
Jackie S via Unsplash
If you got something that you think one of your friends or family can benefit from, why not give it to them? There’s no shame in revealing that it was a gift and you don’t want it anymore…as long as you aren’t re-gifting to the person who gave it to you!
Or, keep the gifts to re-gift at a later date. You never know when you’re going to need a last minute gift. You’ll thank yourself later.
Attempt a Return
Erik McLean via Unsplash
If your item still has a tag, you can make a valiant effort to return to the store. If you can make your case, many stores won’t want to fight you on it. They may be forgiving and grant you store credit at the very least.
The Truth About Elizabeth Warren's and Alexandria Ocasio-Cortez's Wealth Tax Proposals
There has been a lot of recent buzz about the idea of a "wealth tax" in the United States, particularly since Rep. Alexandria Ocasio-Cortez of New York appeared on "60 Minutes" and laid out a plan that would tax the richest Americans at a rate as high as 70%, nearly doubling the current 37% top rate. Additionally, 2020 Democratic Presidental candidate and Massachusetts senator, Elizabeth Warren, is reportedly working with UC Berkeley economists Emmanuel Saez and Gabriel Zucman to design a proposal to levy a wealth tax on Americans with fortunes over $50 million. While these numbers may seem difficult to grasp, the kinds of wealth taxes democrats are proposing are not only not as extreme as they sound, but already practiced successfully in other parts of the world.
Firstly, it's important to keep in mind that America operates on a progressive tax system, meaning, as Business Insider puts it, "as a person earns more and progresses through tax brackets, their tax rate increases for each level of income." So while many people balked at the idea of a 70% flat tax rate, Ocasio-Cortez clarified "Once you get to the tippy-tops, on your 10 millionth dollar, sometimes you see tax rates as high as 60% or 70%," she said. "That doesn't mean all $10 million are taxed at an extremely high rate. But it means that as you climb up this ladder, you should be contributing more." Essentially, the rich would not suddenly be destitute under this proposed plan; they would merely have to contribute an increasing amount as their fortune grew. So it wouldn't be the entirety of their $10 million fortune that would be taxed at 70%, but their 10 millionth dollar. While under Warren's proposal, the US would adopt a progressive wealth tax that would levy a 2 percent tax on fortunes worth more than $50 million, and a 3 percent tax on fortunes worth more than $1 billion, meaning billionaires would contribute amounts that are negligible in the context of their total fortune.
This would be similar to France's wealth tax policy, which is triggered at €1.3 million, but only the first €800,000 of this amount is tax free, and taxpayers pay between 0.5% and 1.5% on anything over this each year. This tax has worked successfully in France, despite it being applied to significantly lower amounts of wealth than Elizabeth Warren is proposing. Meanwhile, in Denmark, the highest tax bracket sees about 15% taxation, and citizens report great satisfaction in terms of quality of life and government services. In summary, wealth taxes are a simple and effective way to ensure that wealth does not become too heavily monopolized by a few people, while also ensuring that the poorest people are taken care of by the state.
But some don't see it that way, with many on the right reacting strongly to suggestions of an American wealth tax. House Republican whip Steve Scalise called Ocasio-Cortez's idea a "leftist fantasy program," while more moderate voices didn't react quite as strongly, but still suggested that while income tax laws definitely need to be reformed, a wealth tax is not the way to do it.
But to truly understand the argument, one has to compare what a wealth tax would mean to a real life billionaire, vs. what it would mean for the country. For example, with Warren's plan, only an approximate 75,000 families would be minorly affected, but the United States would earn an additional $2.75 trillion over a 10-year period. If you take the $57 billion fortune of Mark Zuckerberg, and apply this tax idea, he would only be taxed $1.7 billion, and then close to $0 in the following years if his fortune didn't continue to accumulate. For him, $1.7 billion is a small number that would in no way affect his quality of life. But if you think of the social services that would benefit from that $1.7 billion, you would undoubtedly see widespread effects improving the lives of the poorest Americans, making it difficult to argue that an American wealth tax would do anything but help the state of the nation.
