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Old 12-28-2010, 04:54 PM   #21
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I never cease to be amazed by the ability of people who feel compassion for someone who loses $195k from theft or natural disaster yet don't care when someone loses $195k to the government (at the point of a gun).
You're right. I don't feel sorry for people who keep more money after tax every year than I have accumulated as yet, or probably ever will accumulate in my whole life, yet think of themselves as objects of pity, simply on account of the amount of taxes they pay. Frankly, I think their complaints make them look both silly and self-centered. Financially speaking, what have they really got to complain about? Even after taxes, they make more money than 99.999% of people in the world, but that's not enough for them; they want sympathy too. Tough luck for them, but they will have to do without mine. I'll save it for people who can't afford even bare necessities, let alone luxuries. Alan is right, having a high income is a reason for dancing, not for crying the blues.

P.S. I suspect travelover's granddad was on the right track when he suspected this complaining about huge taxes is really a backhanded way of bragging.
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Old 12-28-2010, 05:05 PM   #22
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When people (myself included) start complaining about how X is better off/taking advantage of Y, I always imagine swapping places to see if it is really a better place to be. Almost always it is not a better place.

Having said that tax pain is very real for each individual that has to pay them.

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Old 12-28-2010, 05:26 PM   #23
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Not when you realize that all the hours you spend working, and close to 50% off the top of what you make is then paid out to someone else for doing nothing.
Its like protection money or the mafia shaking you down for being on their turf.

Here's a thought: Since I make more, and thus have to pay more, why don't I get preferential treatment or better benefits than someone who makes less and gets the exact same I do? Just because I make more, doesn't make me any more of a drain on the system than someone who makes less. In fact, chances are that I help the system since I spend more and maybe create more jobs.
I never made any comment as to the fairness or otherwise of the system. The point I was making is that you seem to be so sad making so much money to have to pay $195K in taxes. So, more money does not necessarily buy more happiness, even in a low tax country with all the wonderful attributes of the USA.
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Old 12-28-2010, 06:16 PM   #24
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I never cease to be amazed by the ability of people who feel compassion for someone who loses $195k from theft or natural disaster yet don't care when someone loses $195k to the government (at the point of a gun).
I dunno. I've been in that odd situation a few times, and while there's a definite *OUCH* to writing that huge check, I also have to consider that I have an obligation as a resident and citizen of this particular country to chip in chip in for it's defense, maintenance, and operation, and I had one heck of a lot more in income than was in that check.

I might object to the amount, or the use to which it is put, but that is an issue for the ballot box, not the checkbook.
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Old 12-28-2010, 07:41 PM   #25
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Way back when I used to do taxes for a living... and I would see where we would give someone estimated tax payment forms of $1 million PER QTR.... others would say 'it must be horrible to have to pay that much in taxes'....


I used to say "I would LOVE it if I had to pay that much in taxes".... because I would be making a LOT of money...

Sure, you want to pay as little as possible legally (at least I want to be legal).... but not any more...


Soooo, $195K in taxes... good for you... (PS... if you do have a girlfriend who you pay ALL expenses for 9 years... then why not get married? Seems like it is permanent to me... also, why not plug in the marriage etc. to see how much you save... might not be as much as you think. You would not use head of household)....
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Old 12-28-2010, 07:50 PM   #26
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Way back when I used to do taxes for a living... and I would see where we would give someone estimated tax payment forms of $1 million PER QTR.... others would say 'it must be horrible to have to pay that much in taxes'....


I used to say "I would LOVE it if I had to pay that much in taxes".... because I would be making a LOT of money...

Sure, you want to pay as little as possible legally (at least I want to be legal).... but not any more...

Soooo, $195K in taxes... good for you.......
Been trying to find the L'il Abner cartoon in which Abner is overjoyed at the privilege of paying some taxes. Almost think the $0.25 he had to pay was more than General Bullmoose and the taxes pained Bullmoose more...

Writing big checks makes me kinda giddy as long as there's money to cover them... 'course my big checks aren't THAT big...
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Old 12-28-2010, 08:55 PM   #27
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My goal has always been to pay a million in income tax. I'll get there before most of you for two reasons:
1) I live in Canada where we know about progressive taxation.
2) Two reasons for what?
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Old 12-29-2010, 06:08 AM   #28
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I've had years when I paid considerable taxes and years when I paid nearly nothing. Oddly enough, the years I paid higher taxes were generally easier and less stressful
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Old 12-29-2010, 07:50 AM   #29
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When I cashed out my company's ESOP 2 years ago, my federal income tax bill slightly exceeded $50k, 3x higher than its previous high while I was working. I can't imagine what it would be like to have that kind of income every year.
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Old 12-29-2010, 08:09 AM   #30
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I fully support (all expenses) my long-time girlfriend of almost 9 years, and I still can't claim even "Head of Household" as far as I understand the tax rule. So I can't even claim that.
If you don't want to get married, why not just adopt your GF? ...

(I understand that's what Hef just did )...
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Old 12-29-2010, 10:35 AM   #31
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As he is only 24 now according to his profile, it is impressive that he has been supporting her since 15.
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Old 12-29-2010, 11:11 AM   #32
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As he is only 24 now according to his profile, it is impressive that he has been supporting her since 15.
Jerry Lee Lewis is a E-R.org member?
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Old 12-29-2010, 01:20 PM   #33
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2010 is the first time that DW and I will both have a full year of income after finishing our graduate programs, and TaxCaster tells me that we will pay >$50k in federal taxes which is around the average household income. Probably old hat to many here but it seems odd to me...I don't feel "rich"...
You may not feel rich but I would hope you feel lucky. Congratulations!
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Old 12-29-2010, 01:23 PM   #34
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I have paid multiples of this amount in taxes for many years. Feel very lucky about it. We have a wonderful life and given that I don't complain about taxes.
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Old 12-29-2010, 02:30 PM   #35
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Those who pay a huge amount in taxes do have a point - they worked hard for their money and took risks, while others chose not to do so. This is why a flat tax or a tax system based on consumption may make more sense. Under a flat tax, the rich may pay "more" in terms of total dollars, but they pay the same "share" of their income as they guy earning less. Under a consumption tax system, savers are rewarded with lower taxes, while spenders are "punished" for consuming far more resources than they need.
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Old 12-29-2010, 04:25 PM   #36
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Those who pay a huge amount in taxes do have a point - they worked hard for their money and took risks, while others chose not to do so. (snip)
There are plenty of people who work a lot harder, take much bigger risks, or both, and get a lot less money in return for their efforts than the high earners who gripe about their big tax bill, but I don't see any of the latter volunteering to change places with, say, coal miners.
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Old 12-29-2010, 04:37 PM   #37
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There are plenty of people who work a lot harder, take much bigger risks, or both, and get a lot less money in return for their efforts than the high earners who gripe about their big tax bill, but I don't see any of the latter volunteering to change places with, say, coal miners.
Nor have I seen welfare louts (the beneficiaries of those paying the five and six figures in taxes) picking up the axe, breathing apparatus and helmets and hopping down the coal mine. I mean, why work when you can get by ok without working?
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Old 12-29-2010, 05:25 PM   #38
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Here's a thought: Since I make more, and thus have to pay more, why don't I get preferential treatment or better benefits than someone who makes less and gets the exact same I do? J.
Hmm...what did you have in mind? A special title that everyone has to call you? Mandatory "movie-style" parking everywhere? (That's the kind where the hero always finds a space right in front of wherever he needs to be in a hurry).

My impression is that people with "your" kind of money get treated pretty special already! They get to live in the best locations, eat at the nicest restaurants, hire the smartest lawyers.
Nothing wrong with that, by the way.



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Old 12-29-2010, 05:31 PM   #39
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Hmm...what did you have in mind? A special title that everyone has to call you? Mandatory "movie-style" parking everywhere? (That's the kind where the hero always finds a space right in front of wherever he needs to be in a hurry)
He gets to be audited first.
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Old 12-29-2010, 05:49 PM   #40
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There are plenty of people who work a lot harder, take much bigger risks, or both, and get a lot less money in return for their efforts than the high earners who gripe about their big tax bill, but I don't see any of the latter volunteering to change places with, say, coal miners.
Coal mining doesn't pay as well as many other professions that require higher education, which is why some of us worked our way through college at minimum wage while our friends headed off to the mines (or factories, or construction sites) at wages of 4-6 times that amount right out of high school. The same reason we later took career-path jobs that didn't allow us to punch a time clock and be home every evening with our families. And why we looked ahead and put money into our 401K's instead of a bass boat. And why many of are fed up with having higher tax crosshairs on our backs from folks who made different choices and now begrudge us the success we worked so hard to achieve and think we "owe" them.
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