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No I am not living above my means. We just sold our UPSIDE DOWN house, and now rent, we own 2 small cars (Honda and Toyota), I wear scrubs with a lab coat and crocs to work and I wear shorts and T's the rest of the time. I have no kids, I don't smoke or drink and I am vegetarian. We eat at home, I pack my lunch and I do not buy expensive shoes, clothes,etc. I go to Best Cuts for my bi annual hair cut. We help pay for my hub's senior parents bills and I give to my church and a couple Autism programs. So I am NOT living above my means.
You make more that $250K, and live that frugally, and have to take out a loan to pay your taxes?
Well, what can I say? I'm not lying about this. I have no kids, etc. If you lived in a 1/2 a million house where I just moved from your property tax alone would have been 14K a year. So I dont' know what to tell you. I guess congrats for doing so well.
I find it very odd why a person like me can't even post without being called ignorant, a liar, etc.
Because your numbers don't add up. You say you rent and have minimal bills, yet you'd have to be taking home $12-15k every month... yet have to take a loan to pay taxes? Like I said, my housing bill is $4k, $1.5k in car payments/insurance, yet not taking loans out here... you need to talk to an accountant.
Well at any rate, I will have to start taking loans again AND working OT to pay my taxes when the tax cuts expire.
I am on a hamster wheel now...the more my taxes are, the more I have to work to pay them. The more I work, the more I make and then my tax bill goes up. It's a vicious cycle and I can't get off of it. Hearing of tax increases makes my skin crawl. If I had a kid, I would never tell them to go to college. For what? To get a better job? ROFL! It's not worth it.
how about having your taxes taken out of your pay check so you break even, or get a refund; or how about saving up throughout the year? For someone who thinks they know so much about taxes, you seem to be very bad with money.
Because your numbers don't add up. You say you rent and have minimal bills, yet you'd have to be taking home $12-15k every month... yet have to take a loan to pay taxes? Like I said, my housing bill is $4k, $1.5k in car payments/insurance, yet not taking loans out here... you need to talk to an accountant.
I agree. It does not add up. We support a family of 4 on $75K and have never had to take out a loan to pay our taxes. That is net about $4500/month.
This illustrates the problem. Giving tax cuts to corporations and the wealthy can raise GDP, but it does not create jobs (in the US, anyway. I'm sure many jobs were created in China, India and Mexico as excess capital was invested in those economies due to the tax cuts for the rich.)
The rich already have enough money to consume more than they need. Anything extra goes to investment. Calling a broker (stock, real-estate, gemstone, art, precious metal, etc.) does not create a job. While $13 per week is a paltry sum, that money will, most likely, be spent on consumption. That's the idea. In aggregate, a couple hundred billion dollars will be pumped back into our economy, rather than go offshore or into the pockets of already-well-to-do brokers.
This kind of answer comes from people that don't know multi millionaires or billionaires and think they all sit around having a great life of leisure and they dial their broker once in a while.
I worked directly for a long list of multi or mega millionaires and billionaires, some of which are public names, and I know first hand how they live their life and how they make their money.
For starters, yes there are the limo liberal trust fund babies that have wealth and yes they jet around doing much of nothing.
However the reality is the vast majority of wealthy or high income people work their ass off. Whether it is owning a chain of car dealerships, heavy equipment rental stores, a manufacturing company, several restaurants, etc. they invest and take risk and use their brain and hard work and make something of themselves. And in return create jobs and employ a lot of people. What makes this country go around is small and large business not guvment bureaucracy. And that small and large business just didn't drop out of someones butt one day. It is the result of a lot of hard work, effort and risk taking.
Also the notion of buying stock or real estate or whatever doesn't create jobs is dumb. Really dumb in fact. Because investment is what drives the economy. It puts the money back in the system for people to grow their business and hire more people.
We need to stop vilifying wealthy or successful people in this country. Success not failure should be rewarded.
Don't like people making more than you then get off your ass and get to work. Get a better education, start a business, get a better job. I started my first business with absolutely nothing. And when I mean nothing, nothing. And I always made money. Was a W-2 guy for a while, now I am back owning my business. My sister works for a woman that started her business with $1800. It was a struggle for seven years and then business started to expand. She now employs 60 people and is a millionaire. She worked her butt off to get it.
So why punish success? Stop sitting around waiting for everyone to do everything for you and make something of your own life.
I think what is clear is our high school education is lacking as clearly people don't understand economics and math.
Then what are you spending your $250k++ on? What are your expenses? Because I'm right there and have a $4k/mo housing bill and two car payments... and am not taking loans out to pay my taxes.
Well I said what my expenses are. I do have education and malpractice insurnace but that's about it. I do carry pharmacy licenses and that is an expense each year and I have to pay for my continuting eduction.
I am honest, maybe too honest and I actually had an accountant who was an IRS audit agent and I paid more taxes with him than ever. I figured if there was a legal deduction,then we could take it. Nope....it was horrible. Now we pay quarterly so the shock isn't as bad.
We actually made the the decision and moved out of Ohio. I was paying 30K a year in taxes to Ohio alone. (City and State) (not including my husband) so we figured if we moved to Florida, then we woudn't have to work as much.
how about having your taxes taken out of your pay check so you break even, or get a refund; or how about saving up throughout the year? For someone who thinks they know so much about taxes, you seem to be very bad with money.
You must not have read my post. I claim single and zero and still have to pay. I never claimed to know about taxes. All I know is how to pay them
Well I said what my expenses are. I do have education and malpractice insurnace but that's about it. I do carry pharmacy licenses and that is an expense each year and I have to pay for my continuting eduction.
I am honest, maybe too honest and I actually had an accountant who was an IRS audit agent and I paid more taxes with him than ever. I figured if there was a legal deduction,then we could take it. Nope....it was horrible. Now we pay quarterly so the shock isn't as bad.
We actually made the the decision and moved out of Ohio. I was paying 30K a year in taxes to Ohio alone. (City and State) (not including my husband) so we figured if we moved to Florida, then we woudn't have to work as much.
I'm no tax expert, but those sound like deductible business expenses. I would not count those amounts as "income."
This kind of answer comes from people that don't know multi millionaires or billionaires and think they all sit around having a great life of leisure and they dial their broker once in a while.
We need to stop vilifying wealthy or successful people in this country. Success not failure should be rewarded.
There are those who are successful, both people & corporations, who take full advantage of the system, including illegal shortcuts.
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