When our income was lower, I used to think that higher taxes would be a deterrent. IIRC, I even envisioned quitting my job so that we could pay fewer taxes. But now that our income has doubled over the past 3 years, we have found that making more money is always an attractive proposition, regardless of the increased taxation that comes with it. It doesn't mean that I am happy to pay 6 figures in taxes each year. I am European after all and b*tching about taxes is as much a national past-time for us as soccer is. I will not let myself be plucked without using every legal mean at my disposal to lessen the pain (contribute to a 401K, make our portfolio tax efficient, manage deferred compensation for tax efficiency, etc...) but, even sitting in the top tax bracket, it's hard to feel much deterrence to try and make even more money.
Compared to my other reference points, I find the current American tax system very attractive. It will remain comparatively attractive for me despite next year's tax increase.
Compared to my other reference points, I find the current American tax system very attractive. It will remain comparatively attractive for me despite next year's tax increase.