02-13-2012, 6:50pm
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#6
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Latin American Goat Roper
Barn Stall Owner #101
Bantayan Kids '13
Points: 133,794, Level: 100 |
Join Date: Nov 2009
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Quote:
Originally Posted by DAB
the unsaid thing regarding the 'rich', is that they have options. once their basic expenses are covered, they do not have to go out and earn more just so they can give the lion's share to the government.
i recall reading or hearing an interview with Reagan years ago, before he was elected President, and he was asked about tax rates in the 60s and 70s. he replied that he had sat down, figured out how much he needed to earn that year, and once he had met that, he could stop working for the year, as he objected to working the majority of the day to fill the government's coffers. so he downsized his lifestyle.
same idea.
and, if you have enough savings, you don't really need to chase investment earnings (thus producing a tax bill), you can simply withdraw what you need from savings.
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eheheh....IF I had been better at business and investments, it would have worked out for ME too, and Reagan was rite....trick is these daze, to trust NO ONE on investment advice, and don't be pressured by a ex wife....
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