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I hate paying federal taxes due to the wealth redistribution welfare system. I will gladly be poor, and be happy not paying into that welfare system.
The knowledge that my money is not being used to support the leeches that live in this country, makes me very happy.
I understand your point of view, even though I don't share it. I would prefer NOT to be poor, even at the cost of having to contribute financially to something which is unjust (supporting leeches). There are so many injustices in the world in addition to the one you pointed out that I try not to get myself worked up about them. When I was younger I was so often outraged and angry. But guess what? That didn't change a thing. Serenity works better for me in old age.
Besides, my taxes support deserving people in addition to the leeches.
Your interpretation would make the statement make sense, so I would say you are probably correct. However, the poster did write "taxes". Thanks for pointing out something that had not ocurred to me.
Right. I think it's around $16k this year but definitely a small amount before they start deducting. I looked into this because I may be forced to retire early (I'm 64) later this year and my current ss plus the $16k will only add up to around $36k.
Had a client years ago who started collecting Social Security benefits early so had to be mindful of the earnings limit. He had a clever approach to handle the consulting income he earned from his former employer.
He formed a corporation and put both him and his wife on the payroll. The corporation paid both of them generous non-taxable employee fringe benefits and maybe there was a pension, I can't recall. In any event, these benefits and other corporation expenses sucked up a lot of the consulting income and allowed his W-2 wage to be below the earnings limit. And as a result of those expenses, the corporation had little taxable income and, thus, paid little or no tax.
After the earnings limit no longer mattered, he dissolved the corporation.
A comfortable lifestyle can be had on 36K in most places.
Yes it can and I will have to compromise if / when the time comes but right now looking for a town where I can park the car for the winter and walk everywhere and also be able to hop on a train and get to NYC in around an hour. Tall order, but I know it's out there if I just keep digging
Had a client years ago who started collecting Social Security benefits early so had to be mindful of the earnings limit. He had a clever approach to handle the consulting income he earned from his former employer.
He formed a corporation and put both him and his wife on the payroll. The corporation paid both of them generous non-taxable employee fringe benefits and maybe there was a pension, I can't recall. In any event, these benefits and other corporation expenses sucked up a lot of the consulting income and allowed his W-2 wage to be below the earnings limit. And as a result of those expenses, the corporation had little taxable income and, thus, paid little or no tax.
After the earnings limit no longer mattered, he dissolved the corporation.
That's brilliant!
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