Enough is Enough

I have no problem paying taxes. I live a nice life in a great country and I understand that I have to do my part. But the more money my wife and I make the more I realize that a much larger percentage of our income is spent paying taxes. And because we don’t yet own a house we do not receive the tax benefits of owing one’s own home. This year for the first time ever I have been mindful of ways to reduce our tax bracket. I increased the percentage of my income into my 401(K), we kept receipts of items that we donated to charities, etc. But we will still pay a lot of taxes this year and we may have to start paying more if a democrat takes over next January. In fact, my wife says that she would vote for Senator Obama if he didn’t plan to raise taxes for the wealthy. My wife and I have each played fair and by the rules our whole lives. We focused on education and opportunities and have tried to be smart with our money, regardless that we were in one of the highest tax brackets and giving Uncle Sam more than our fair share. Now, there is the possibility that we will soon have to pay even more to help fund social programs for the less fortunate. On the one hand I have no problems with that concept in theory; yet when it comes to our hard-earned money, enough is enough.  

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2 Responses

  1. I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.

    Mike Harmon

  2. Depends on what’s enough. I enjoy being in the higher tax bracket (having been in the lower brackets for many years), and I don’t mind having a bigger portion of my income for taxes taken away. What I DO mind is what my tax dollars end up funding for the government.

    Social programs, good.

    War, bad.

    Note that if we didn’t spend so much of our nation’s dollars on the war, we wouldn’t need to up the taxes for social programs. Think of it strategically, instead of raising taxes to fund the war, they take funding away from other services, and raise taxes instead to fund the programs which funds were cut from. So when they raise taxes, they go, “what, you don’t want to help the poor?”

    Good times…

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