Monday, January 7, 2013

And, Another Thing...

A few more thoughts about The Blog's Friday night post.

One of the silliest arguments that The Blog hears, over and over again, goes...

Something like...


"Why should I work harder, to make more money, if I will only have to pay more taxes?"

The answer is simple.


That would be because if you make more money, it means that, after taxes, you will still be making more money.

The argument that says, "I resent paying more taxes, so I will just stop making money, so that I won't have to pay more taxes," is...

Let me be blunt...

Stupidly short-sighted.

"I'll just make less money, so I won't have to pay more taxes."


Okay, too simple for you?

Let's see if I can make it clearer.

For the sake of illustration, The Blog is going to talk about the "Single" tax filing rate of  $400,000 rather than the "Married" rate of $450,000.

Just because.

As a result of the "fiscal cliff" deal, every dollar you make up to $399,999 will continue to be taxed at the so called "Bush Tax Cut" level.

The deal makes those cuts permanent.

The Blog has already explained the payroll tax "sunset clause" that the Republicans in Congress have allowed to expire.

So, yes, you and I are both going to be paying more in taxes than we did last year.

If you are lucky enough or smart enough to make more than that, you will not be taxed at the higher rate for the money that  you earned, up to $399,999.

If you earn $401,000, you will only be taxed at the higher rate on that $1,000.

Get it?

I don't know about you, my Conservative friends, but if I was making that much money, I wouldn't just be happy to pay the extra taxes...

In fact, I would be bragging about it.

"Goddamn! I am raking in so much fucking money that I am paying the top tax rate to the greatest country in the world! How do you like me now?"

I know...

No one likes paying taxes.

No one likes paying their rent or mortgage, either.

But, as my landlord friends know,

You had damn well better pay that rent, if you want the privilege of living in your home.

And, you can object to how your rent is spent, whether it's on Rolls Royce cars or wars in third world countries.

You still are expected to pay that rent.

No comments:

Post a Comment