Just because you may be able to withstand the hit doesn’t make it right. If later that day someone stole $5000 from your wallet, you’d be fine as well with still north of half a million, but that wouldn’t make it any less theft. The government has no right to that money and it essentially disincentivizes success. Now, I’d like to think that said person would do some good(beyond employing and providing benefits for countless people who need a job and benefits) through charity or something along that line. But it should be his call and he should be able to direct his funds to something he feels warrants it, not have a bunch of career politicians funneling the fruits of his labors into their own coffers and/or financing a bunch of nonsense in the name of some cause that acts as little more than a guise to continue the theft.
Best Posts in Thread: Biden Eyeing Tax Rate as High as 43.4%
I would add a couple more things to your thoughts though. One people that make over 400K generate income(and subsequently more tax revenue for the government)in the first place due to supporting local goods and services. Anyone know of someone in that income range that mows their own lawn, washes their own car, cleans their own home or pool? Hell most pay OTHER people to manage their assets(RE management, CPA'S and financial advisors to name a few). Their spending habits also generate more state sales tax revenue and many pay for private schools WHILE also paying property taxes for schools they never use...
And then to take 43% of their assets once sold that they paid for WITH AFTER TAX dollars is f vcking criminal....
If the Government wants more money to fix sh!t that they f vcked up(mismanaged) in the first place they can do what John and Jane regular citizen do...Find a way to EARN more money or find a way to SAVE more money.
And while I don't really share 78's ultra casual views on the matter, I do think he's correct in saying you have to just accept it and put in the extra work to cover yourself. No different than watching people file their taxes in 15 minutes and having a refund in the first week of Feb vs pouring over files for months, having multiple meetings with your accountant and waiting until the last possible second to write a check. On the surface it sucks and is obviously much more laborious, but it's certainly the better of the two alternatives.
Anyway, forget all this wasted energy and focus on getting BMF a mortgage.
Do you ever wonder why entire areas turn into slums? It's the de incentivizing effects of over taxation set in place by irresponsible spending Left wing politicians. Just look at the areas where this occurs. Good Lord man don't you like keeping your money? The tax system in this country is f vcked as it is and just begs people to find loop holes. Charge a decent rate(5-10%) and get rid of all he loop holes.
This moron just needs to get it over with and come out with the Hammer and Sickle tattooed on his forehead. There's a reason tax receipts were the highest ever in 2018/2019....And I know Dems and liberals can't figure this out but lowering taxes ACTUALLY RAISE tax revenue.