Posted on 02/28/2009 5:29:18 PM PST by 2ndDivisionVet
I got this earlier today, from a reader:
Jonah, a few years ago, I lived in Manhattan (we met briefly one year at a cocktail hour at some bar on 2nd Av when I was at [job description withheld]). My bride and I together were pulling down about 400k per year. (btw, we didn't feel rich, we didn't act rich, and Bernie Madoff never took us into his confidence, either.)
At the same time, every dollar we earned was being taxed about 50% (I mean, taxed where I could see it being taxed) . So who were we working for? Everything we bought, we were buying one just like it for somebody else. I decided then (probably 2002 or 2003) that I wouldn't do that any more. So I deliberately changed my career strategy to move into jobs that paid progressively less. After 2 such job changes, we left New York for CT. Our income now is about 130k and soon I will leave my 80k job for real retirement. Yeah, I have a pension and some other assets (dwindling) that can produce income. But I think I've succeeded in minimizing my income - and therefore my tax burden. And yeah, I'm at a stage in my life where my strategy is practical and I know most people aren't. But so far it's working for me.
And this came in just a minute ago:
Jonah:
I don't believe Stephen Benen would be happy if I and other anesthesiologists simply worked less - because we maxed out on low taxes.
I work a lot of overtime, for MONEY.
Without this incentive, people like Benen would be waiting in line for surgery.
Sincerely,
Frank
tag line
Two income 250k folks are going to be thrown to the wolves by zero.
I have a hard time seeing how these doctor/lawyer working types could EVER vote DIM again once they see what happens in the next fiscal year.
I have a hard time seeing how these doctor/lawyer working types could EVER vote DIM again once they see what happens in the next fiscal year.
I have met those types and you are wrong. They (at least those who subscribe to socialism) will continue to work at those jobs until they are declared the enemy by the proletariat. If you don’t believe me read the history books.
Whatever he takes in taxes I save and do not spend. Poor service workers or maybe I should just call them the soon to be unemployed.
Barry and his liberal allies in Congress have killed the American Dream. The Oppression of hardworking Americans has stifiled Proactive Self Starters who want to make it because they see the government raping them for trying to be successful.
Not only won’t you get the credit for your work and ideas the government will demand more and the scary part is that the GOVERNMENT IS US.
I’m telling you it’s isn’t just the people who make six figures. I work my ass off at a day job plus I freelance alot and I barely make 35k. What I have seen as I have slowly and arduously climbed to the staggering heights of my tiny ladder, is that is doesn’t pay hardly to work hard to make more money. Especially once your kids are gone and you lose those deductions. This year I am going to be smarter about deducting every dime I can because of my freelance “business” which may offset some of the gubmint money grab.
But between higher tax rate and increased cost of health insurance I bring home about $150 a week less than I did a couple of years ago, and I actually make more per hour now than back then. Right now I don’t even think I would want a raise.
I’ll be 61 this month. I’m looking for ways to seriously reduce my income.
No it's not. They are a bunch of crooks riding the wave of disinformation and propaganda...and they are good at it.
Socialism was started 100 years ago. It doesn't take tea leaves to predict the outcome, just a willingness to profit from it.
The instant the pre-Election polls declared that Obamination and the kleptocrats would have a sweeping victory, the U.S. economy promptly collapsed.
I am convinced that there is a mass “Who is John Galt?” phenomenon, as the productive Americans have simply decided they will not work for Obama and the democrat’s higher taxes.
Methinks very little. Obama is digging his own grave. I applaud every shovelful he takes out of the hole.
All the former 'luxury tax' did was put a lot of blue collar luxury builders and sellers out of work.
I’m ready to quit.
If this type of high-income dodging to avoid heavy taxes becomes popular enough, employers will respond by paying lower salaries BUT with lots of non-pecuniary benefits (trips, cars, fine dining, etc.).
you could pay me to be an expense!
I hate Obama. I’m not ashamed to say it. I hate him because he acts like he has a greater claim on what I earn than I do. I hate him, and his fellow socialists in Congress and every leech who voted for him who has been raised to think that someone else should be paying their bills. I will not be his slave.
>>Methinks very little<<
Methinks, tons.
In fact, methinks most.
People who sit in government assisted housing, with the Wii and the big screen tv, two cell phones, car, free lunch and breakfast for the kids, will they hate this? No.
The people making 35,000 a year who see their money dwindling but 0 hands them healthcare (trust me, healthcare won’t immediately be Canada. It will take time) will they hate this? No.
The single mom who is looking at someone “helping” her, or the out of work Union guy who gets more unemployment, will he hate it? No.
What we aren’t getting is that 90% of the taxes are payed by 10% so it’s only 10% (and those of us who know the truth) that will hate this.....Only our kids and grandkids will see that we stole this money from them.
The rest are too busy watching American Idol and figuring out what they will do with their stimulus check. Sheesh.
“If this type of high-income dodging to avoid heavy taxes becomes popular enough, employers will respond by paying lower salaries BUT with lots of non-pecuniary benefits (trips, cars, fine dining, etc.).”
I concur. People will go underground or use “in-kind” payments for salary.
Yes. And the federal government won’t take it too well if those people start trading their services (barter economy). Watch for some policy to prevent that.
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