OT - Re: Taxes (in general)
in response to
by
posted on
Oct 23, 2008 10:48AM
However it's better to become more affluent and pay higher tax than to be poor and pay no tax
Having been poor myself, I'd always suspected that would be the case.
While I can understand poor people whining occasionally because they have a hard time making enough money to make ends meet, I never quite understood how rich people could whine so much about not being richer. I get the concept of wanting to keep what you earn, but the reality is that we have a progressive tax system currently in this country. The argument is over to what degree. I could certainly be in favor of a 'fair tax' (or consumption tax insofar as I understand it) if it were ever to see the light of day - which it won't.
The $250K figure is net, by the way... a fact I think has been almost completely overlooked. If you aren't able to offset more business income with expenses to get you below $250K in taxable income, then either you're doing quite well for a 'small' business or maybe you just need to get another accountant.
- Sinkman