Old, that's you, many people have never paid anything in. Heck a 17 year old nephew of mine started working for the first time about a month ago. He is going to be a daddy next month and my BIL told him he has to work. They have been to see a judge and they will get hitched next month too. He's a really bad under achiever and I suspect he'll work at Wal Mart for a number of years and get back far more than he pays in. He's not alone. There are many people in the same boat. He will most likely milk the system for all he can and will never pay his fair share unless he win the lottery.
Heck think about it. Get a pay check for 400,000 plus dollars. Have an adjusted taxable income of 400,000 even. Your tax bill for federal income tax is going to be 158,400 bucks. Plus state taxes. Then with that kind of income you are going to spend more than the guy making 40,000, so you would pay out a fair amount in sales tax too. Then with that kind of income you most likely like in a more expensive home that has higher taxes too. Then people who make that kind of money most likely have investments too and returns on those investments are going to cost them 15%.
We have a guy here who I know pretty well. His average tax bill to Uncle Sam is about 68,000 a year. That's more than most people I know make. Now get this. He has no earned income. All his money is from investments.
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Today's Featured Article - Museum Coverage: The Stuttgart Agricultural Museum - by Cindy Ladage. While cold wind was blowing back in Illinois, in Arkansas, daffodils were in bloom, and the Magnolia trees were adorned with fragrant blossoms. Stuttgart, Arkansas was the site of this year's winter Minneapolis Moline Collector's show February 25-27, 1999. The show was held at the Oliver Museum created by Don Oliver, the pioneer of the four wheel drive tractor. Oliver along with Gale Stroh and Kenneth Bull using Minneapolis Moline tractors and parts created what has become known as
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