FUEGO
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Nov 13, 2007
- Messages
- 7,746
My federal and state income taxes worked out to be 17% of my AGI on a dual income 6 figure salary---minimal non-salary income. We max out our 401-k's, and HSA. Our house is nearly paid off (just three more months of payments to go), so really no interest to deduct at this point. I am amazed that someone with a 6 figure income could pay virtually 0 income taxes. I have no problem with people taking full advantage of the tax laws to minimize their tax bills, but even I, a pretty conservative Republican sort, think that ability to pay virtually no taxes at an income level like that is just wrong, inequitable, unfair. Not passing judgement on anyone who can do it, I am passing judgement on the tax lawas that make this possible.
I have to agree - there is no real equity here in the current system where I pay almost nothing but have an income over six figures.
Not that you are accusing me of this, but I just wanted to go on record saying I'm not doing anything sneaky, borderline illegal, questionable, etc regarding taxation. All of what I'm doing is standard stuff that most of us here do to some extent or the other.
I guess this is another reason why I'm not particularly concerned to make a lot more money. Most would go to the taxman.