Today I worked on our taxes. I will claim every nickel I can and I won’t pay a penny more than I am obligated. Never have. Never will. And we don’t cheat. We’ve worked hard (not to mention a lot of scrimping and saving) to get where we are. When we made a lot of money, believe it or not, we paid a lot of taxes!
At our peak, in 2008, our adjusted gross income was three times our AGI in 2012. Yet, in 2008 we paid 17 times more in federal taxes than we did in 2012.
So, right now, while we’re not making that much, there’s a lot of satisfaction in not having to fork over such a huge amount to the IRS.
Don’t try to convince me the rich don’t pay their fair share. We had two really good years (ie. over $250K). So, we’ve officially been “rich”. It was exciting and it was also exhausting.
And we more than paid our fair share.
Penalizing big earners IS a big disincentive. No matter how you cut it, there are only 24 hrs in a day. No wonder so many choose to kick back and take it easy. Or take a handout. Time is precious.