Don't buy Squat

‘Tis the season to start preparing taxes. During the presidential campaign we kept hearing about the failure of trickle down economics and how the wealthy (now defined as a household making over $150,000) don’t pay their fair share. And yet, when I sit down to do my taxes I must beg to differ. I pay more than my fair share. I also create jobs through consumption and save money so as not to burden my fellow citizen when I am of old age.

In 2009, it is time for the “wealthy” to really help the government determine whether indeed the theory is really correct.

Here is what the “wealthy” need to do:
Don’t Buy Squat for 6 Months
No electronics (ipods, iphones, iwhatever)
No clothing or shoes
No eating out,
No home improvements
No Knick Knacks for the Home (pictures, cooking stuff, novelty items)
No Vacation
No Cars (Foreign or Domestic)
No Sporting Events
No Pay per View Movies
No Furniture
No Toys
Cut your insurance limits

Think of all the job losses, federal and local income taxes lost.

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Submitted by skyspy on Wed, 12/24/2008 - 12:02am.

I'm with you. I am already being punished enough for having a job and being successful. In our family we made all of our gifts, no reason to spend money when you are being unfairly taxed.

The only charity I still give money to is the Fayette Humane Society, no charities for humans. They have oodles of entitlement programs that I'm already paying for with outrageous taxes.

Submitted by skyspy on Wed, 12/24/2008 - 2:41pm.

They don't dump animals. They have volunteers that are foster parents. As long as I know a couple of the people who are foster parents, I will continue to donate money. I know my money is well spent, unlike some other charities. They are taking care of the animals. The strays I have taken in are worth every dime I give.

Merry Christmas Not Again. Hope to see you on the paths.

Submitted by Bonkers on Tue, 12/23/2008 - 9:18am.

I would be interested to know just what percentage of your gross earnings you actually ended up paying.
In other words if your groass income was say $150,000, and your total taxes were $22,500 (federal), that would be 15% federal taxes. Plus of course your FICA taxes.

Your 401-k would already have been free of taxes of course until you withdraw it.
All of your deductions would have ben made, and any refund calculated and subtracted.

Were you aware that someone making $40,000 a year also pays 15%?
Usually doesn't have any deductions and can't afford 401-k!

Try doing that stuff you listed on 40K!

JeffC's picture
Submitted by JeffC on Tue, 12/23/2008 - 9:27am.

If I was really, really rich, I would have lost a lot more money this year. LOL.

Submitted by dollaradayandno... on Tue, 12/23/2008 - 3:59pm.

Aren't you lucky to have assets in the market to lose?
I assume you only had the recommended 20% of your assets in stocks?

Granted your house is worth less, but only if you sell it!
Bet it is paid for already from hefty earnings in the past!

Your bank stock probably isn't worth too much right now.
But, the bailout will soon cure that---hang on.

The main thing is just to NOT need a job right now!

Git Real's picture
Submitted by Git Real on Tue, 12/23/2008 - 11:41am.

You failed to add back in the Alternative Minimum Tax Penalty into your equation. I'd give Jeff's left testicle up to be in a 15% bracket.

JeffC's picture
Submitted by JeffC on Tue, 12/23/2008 - 1:09pm.

Thanks for thinking about me but I'd just as soon you paid a lot of taxes.

Git Real's picture
Submitted by Git Real on Tue, 12/23/2008 - 1:40pm.

I vote for you keeping yours and for me to keep more of mine. Smiling

Merry Christmas to the Carter families.

JeffC's picture
Submitted by JeffC on Tue, 12/23/2008 - 2:41pm.

Turns out that taxation with representation ain't so great either.

We're outta here for a while. Merry Christmas to you and Mrs. Git and the Gittlings. And to all the bloggers here.

Here's a special shout out to Wulfman and his family. Merry Christmas! Hang in there we're thinking of you.

PS: Thomas Carter, 12/23/08, 8 pounds 1 oz. My brother Jack's second grand baby. We're jealous.

dawn69's picture
Submitted by dawn69 on Tue, 12/23/2008 - 12:58pm.

Come on, Jeff. Git's only asking for one testicle - take one for the team, be a trooper, give to your fellow man.....

Merry Christmas. Keep an eye on Santa's sack (and yours too)Smiling

"That it will never come again is what makes life so sweet."
- Emily Dickinson

hutch866's picture
Submitted by hutch866 on Tue, 12/23/2008 - 2:40pm.

I believe that would be give one for the team, and Jeff if it's any consolation, you could finally hit those high notes in Queen's Bohemian Rhapsody.

I yam what I yam....Popeye

Submitted by bowser on Tue, 12/23/2008 - 12:22pm.

Git, there's a very simple way to get yourself into the 15 percent bracket, and it doesn't involve anyone's testicles. Just make less than the income limits for that bracket.

But my guess is that it's worth more to you to enjoy the fruits of a higher income than it is to have a lower tax bill.

Git Real's picture
Submitted by Git Real on Tue, 12/23/2008 - 1:37pm.

Boy! That was rich. It would help if you were cognizant enough to fully understand the conversation that is taking place here.

Lucky Dog's words.... spoken like the bitter, jealous loser he is.

At this point I'll remain content in the 35% plus bracket unless jealous nut cases like you succeed in penalizing me more.

Submitted by bowser on Tue, 12/23/2008 - 2:21pm.

... resort to inane and self-aggrandizing insults.

Git Real's picture
Submitted by Git Real on Tue, 12/23/2008 - 2:40pm.

Dude... I didn't miss a thing. Looks to me like the hit dog yelped.

Submitted by bowser on Tue, 12/23/2008 - 3:27pm.

...but that was more of a laugh than a yelp my friend. Happy holiday to ya all the same.

Git Real's picture
Submitted by Git Real on Tue, 12/23/2008 - 8:04pm.

It gets old listening to people mouth off about how they expect me to ante up more because I make a few more bucks than they do. It's as if I'm obligated to fund every school fundraiser, little league team, church trip, charity, etc., not to mention that I'm obligated to provide Christmas bonuses to employees too. I used to enjoy doing that until it was no longer viewed as a gift but an annual expectation. You see... it doesn't end with how much I'm taxed with people like you.

Things have slowed down and you would think employees would step it up a notch or two and make the extra effort to aide in preserving their jobs. But nooooo.... instead they are like you.... they whine about what everyone else has or they whine about their daily tasks. Much like listening to your smart mouthed remark that I should make less so I could pay a reduced tax rate. I tell jealous folks like you to bite me anymore. It's amazing that those that refuse to put in the time, sacrifice, energy and effort into building a successful revenue producing entity are always the ones who expect folks like me to step up and give a bigger percentage of my rewards.

I hear it all the time from clowns like you that "it must be nice being rich", as if I stick 90% of every dollar that passes through my biz in my pocket. I sure don't get any recognition when I'm the lowest paid person in my organization when times get real hairy. But I can promise you I get recognition for being over paid when I have a few good years to put away some cash in the storehouse for difficult times such as this.

Yeah... I hear snide comments like yours every day Lucky Dog. But guess what? I have a few Lucky Dogs at my biz that are envious of those who supposedly "don't pay their fair share" and who resemble your attitude. Guess who the first ones to hit the street will be if I need to lay someone off?

Heck... In honor of you, I might just use this time to dump those ungrateful bums anyways. Find some folks who can maybe appreciate a decent position. If I do I'll make sure I send them your way to see if you're hiring. You'll get along perfectly as you sit around complaining about people like me who, in your minds, do nothing to earn what the gumament allows me to keep.

And oh... BTW... Just what percentage of the revenues that I earn do you think I should be allowed to keep?

Merry Christmas Dog!

Submitted by bowser on Wed, 12/24/2008 - 9:03am.

Well that was more thoughtful, sort of, although to be honest it is really hard to tell if you are writing parody or not. If you are, it's pretty good.

Anyway, after you tell me again what a jealous/clown/loser/retard I am, I suggest we both go have a great Christmas with our families.


Git Real's picture
Submitted by Git Real on Wed, 12/24/2008 - 4:42pm.

I knew you wouldn't or couldn't relate. Retard eh? I can use that one too?

All aside: Merry Christmas and I hope a very good 09 to you and yours. Really! Eye-wink

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