Pay as little taxes as you can?

[truenorth418]

The question is how hard are you going to work to ensure you don't contribute to the public services from which you benefit? And how proud are you of not paying your share? People like Fuego seem to be happy to take money from other taxpayers, but proud of contributing as little as they can. That means everyone else pays more. If you go out for drinks with your coworkers, do you buy a round, or slip off to to restroom when your turn comes up and hope they don't notice?

I'm retired, age 50, and this year I will pay zero in federal income tax and will actually receive a small ACA subsidy.

I am VERY proud to have lived simply and saved my after tax money to put myself in a position to retire early and consequently significantly lower my income tax payments.

I pay the taxes that are legally required of me. Is this my "fair share"? Interesting how the same politicians that pass the tax laws turn around and accuse the people that obey those laws of not paying their "fair share".

Keep in mind that those of us who don't pay much income tax do pay property taxes, sales taxes, and a multitude of others that no one talks about.


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[truenorth418]

While avoiding federal tax doesn't mean these people are able to avoid state and local tax, it does mean that these people are not paying anything for the services that the federal government provides. Economists call this a "free-rider problem". there is another word that begins with "free" that some peole might use, but I'll leave it out of this discussion.

.

"Free rider"? People have a responsibility to pay the taxes required of them by law. How does not paying more than what is required according to the laws passed by the people's elected representatives make someone a "free rider" or any other word beginning with "free"?


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[george76]

The question is how hard are you going to work to ensure you don't contribute to the public services from which you benefit? And how proud are you of not paying your share? People like Fuego seem to be happy to take money from other taxpayers, but proud of contributing as little as they can. That means everyone else pays more. If you go out for drinks with your coworkers, do you buy a round, or slip off to to restroom when your turn comes up and hope they don't notice?

For years I have contributed the legal maximum to my 401k plan at work. At the same time I knew workers who preferred to buy a more expensive car (my car finally broke down after 250,000 miles) than me or the latest TV or whatever instead of contributing to their 401k.

We all make our choices. I chose to make sacrifices when I was younger so I would have a chance to retire earlier. I chose, unlike a lot of people, to live a more spartan like life so I would have more resources when I was older. Why I should I now be punished for that?

By the way, I have paid plenty of taxes and always followed the law. If you don't like the law, the law should be changed.

 

[Independent]

For years I have contributed the legal maximum to my 401k plan at work. At the same time I knew workers who preferred to buy a more expensive car (my car finally broke down after 250,000 miles) than me or the latest TV or whatever instead of contributing to their 401k.

We all make our choices. I chose to make sacrifices when I was younger so I would have a chance to retire earlier. I chose, unlike a lot of people, to live a more spartan like life so I would have more resources when I was older. Why I should I now be punished for that?

By the way, I have paid plenty of taxes and always followed the law. If you don't like the law, the law should be changed.

I don't think you are the person who has a $200,000 income in retirement and pays no FIT. Your 401k withdrawals are taxed as ordinary income (at least mine are).

And, I don't feel like I'm being "punished" for saving. I took the money that would have bought a nice car (after taxes) XX years ago, saved it in my 401k, and doubled it. Today, I can withdraw the accumulated amount, and (after taxes) buy two nice cars, or one luxury car. I feel like saving worked out very well for me.

 

[Independent]

Interesting how the same politicians that pass the tax laws turn around and accuse the people that obey those laws of not paying their "fair share".

I don't think most of them are quite that hypocritical.
A bill comes up to raise the capital gains tax rate above the current 15%. Rep A votes for the bill, rep B votes against it. The majority of reps vote with B, and the bill fails. The cap gain rate stays at 15%.

Late, rep A complains that high wealth people "don't pay their fair share". He's not hypocritical, he's just in the minority.

 

[Big_Hitter]

I am kind of surprised that no one questions the ethics of spending $200,000 a year, and trying to find ways of enduring that other people pay for the defense of your country and all of the other things the federal government provides. I understand how people object to government waste, but to be that rich and really want to find ways not to contribute at all? Have you no shame? It is people like you who make the flaky, flaky Occupy Movement actually seem credible.

wow, that's hilarious


Question it? I applaud it as long as it's all above board. I just hope I don't have to spend 200K a year when I retire.

 

[daylatedollarshort]

I am kind of surprised that no one questions the ethics of spending $200,000 a year, and trying to find ways of enduring that other people pay for the defense of your country and all of the other things the federal government provides. I understand how people object to government waste, but to be that rich and really want to find ways not to contribute at all? Have you no shame? It is people like you who make the flaky, flaky Occupy Movement actually seem credible.

Most posters here have under $100K in retirement expenses, many way under:

http://www.early-retirement.org/forums/f28/annual-expense-poll-40239.html

 

[george76]

I don't think you are the person who has a $200,000 income in retirement and pays no FIT. Your 401k withdrawals are taxed as ordinary income (at least mine are).

And, I don't feel like I'm being "punished" for saving. I took the money that would have bought a nice car (after taxes) XX years ago, saved it in my 401k, and doubled it. Today, I can withdraw the accumulated amount, and (after taxes) buy two nice cars, or one luxury car. I feel like saving worked out very well for me.

I was responding to another poster who didn't think it was right that people who had planned paid less in taxes. That's all.

 

[MRG]

I don't have an issue with fed, state, county. However I w*rked 29 years in a city that took a flat 1% of my pay. I couldn't have an opinion on how the money was spent and couldn't vote to get rid of the tax as I didn't live in the city! Something seemed wrong with that.

Least i's over with.