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 - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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