Great Post! It is a struggle to stay positive when it seems that the looters are winning but when the time comes they will lose and you will be the better for staying upbeat for your family and yourself.
"Keep on keepin on." Joe Dirt

Some 25 years ago, in a social setting conversation with a liberal leaning college professor, I responded, "And what will happen when the rational, productive people either quit or simply reduce their productiveness while retaining their work?" Her answer was, with condescending confidence, "Oh, that will never happen!"

I have said for decades that the root of all irrational people is "I (or we) can get away with it." The "it" they want to "get away with" is life, never grasping (as AR so frequently expressed)
that fear of death is NOT equivalent to loving life, and most particularly one's own life.

You know why my posting takes the tone it often does.

I started to put my two cents in here but instead will save it for that book some of have told me I need to write. It was huge.

What I'd like to say to those still working though is SYM, "Save Your Money". Find a specific percentage and save it, period. I saved in a 401K the most I could that would take the biggest advantage of the company’s contributions. I saved personal funds as well in the bank when the banks used to pay interest. And I bought all the company stock I could at 85% of current value, thanks to the company I worked for. And finally I bought some rental property, always owning at least a four-plex, and or a rental house or two. I did without a lot of things I really wanted, but then again, I was too busy to enjoy them anyway.

Today in retirement, some of my friends tell me they can't afford this, they can't afford that. It's getting so they can't afford me anymore. I tend to hang out with those friends that can afford what we like to do, we go out to eat a lot, take cruises, buy collector items, like guns and stuff, and just plain have a good time. And I finally got that Corvette that I've always wanted since I was in high school. My sister had her two Corvettes back then, but she doesn't have any now. I help her out on occasion now as she’s had some hardships, but we live our own lives.

Today I find my 1040's reporting more income than I ever had while working and I only draw a little over the minimum of my required IRA withdrawal. And my IRA still continues to grow. In the early years of retirement, before I was making more, I moved money and just paid the darn taxes from my IRA to a Roth IRA. That falsely inflated my income. I did this in fear of increased tax rates. I also sold all my company stock at $90/share with an average cost of $19/share, and just paid the darn taxes. This I did in fear of increased capital gains taxes. The balance is now mine to enjoy. That stock has recently been up to $170/share, thank goodness I bought some more of it after my big sale. My only stock recommendation, find what you think is a good company and ask yourself, "Will it be around 20 years from now?" (The best advice I ever got from Warren Buffett).

These days, with the biggest earning I've ever shown on my 1040's I now have to draw extra cash out of my IRA in order to pay the additional income tax. It really hurts, but it's a whole better than the alternative. In any case there is no better advice than “Save Your Money”. Taxes will never go away.

Mmm, I'm hungry now!

It took a long time before Hank and Dagny were convinced of the futility of struggling and refusing to give up. Almost as long as it took me to be convinced. Now even I am convinced. You soon will be convinced, too, Mamaemma.

We'll be here when you're ready.

This is a good answer. Keep up the quality of your production, but rein in the quantity until you are below the trigger value.

Back in the 1980's, I ratcheted back my work hours to the minimum full time (32 hrs per week) to keep below a tax cuttoff point. I made about 20 dollars less per paycheck (I forget the actual amount) than the people working 40 hrs at the same pay rate.

Another possible solution is to talk with your boss about taking the raise in some sort of unofficial benefits (work from home 2 days a week; come in an hour later each day to miss traffic) that are not metered - instead of the $ raise.

Jan

I shrugged 15 ago when I reached 45, but leading up to that it occurred to me that the moochers write parts of the tax laws for themselves. I took on a second job of studying the tax codes and learned how to reduce my taxes by a lot. I don't do anything that might get me in trouble or trigger an audit, but I pay a lot less taxes than most. I invested the money I saved, which is what put me in a position to Shrug.

"Work part time and spend more time with my [values]"

Excellent!!!!!!!! Worked for me.

There is no doubt at all that he is a Muslim. There is a video of him saying that the most beautiful thing that he has ever heard was an imam's call to prayer - only a Muslim could have said that. He is also a Marxist, which, although it sounds like an oxymonon, is not uncommon among many "progressive" Muslims. But the real issue, to me, at least, is why so many Americans are supporting and glorifying him? Who's behind the brainwashing? This has begun long time before Osama; he fits the role well, but is there more to it?

You can also give your heirs slightly less than the gift tax exemption each year (I believe it is now $13,000/year per recipient) without having to report anything, and without it counting toward your estate. Of course this doesn't work with larger units of property such as real estate.

Obama is trying as hard as he can to cut that death tax exemption back. If you are married to a citizen (has to be a citizen), you can give them the chance to spend it before its taxed. But I dont think the exemption amount is indexed to inflation, so they are probably hoping that it will be cut back on its own.

Made breathing tube sets and humidifier devices used when patients needed machines to breathe for them while they recovered, or in the case of premature infants while their lungs were still too young to function properly.

In my experience Self Employment Tax is more than made up for by the expensing of costs as a business. Example, You have two cars and one is reserved for entirely business use.(Not absolutely required but better if possible.) If your office is not at the clients location your drive to the client may become deductible. Some travel expenses are more easily deductible. Expenses for your office are deductible (although home office expenses are limited.) You also should make your services available to more than just one client to retain your small business tax treatment. You can become more knowledgable by downloading IRS Pub 17 (individual) and Pub 334 (small business) and Pub 535(business expenses.) Be aware that these are the IRS suggestions that don't really give the leeway that the law does, but if you get familiar with some of this you will be able to better understand what your tax preparer tells you to do. Its not rocket science, but it does take some time to understand. At least the payment for understanding is lower taxes, and that is not taxable;^)

BTW, did you know that wall street traders have a special filing method so they don't have to pay Self Employment tax on trading profits?

Watch out for the doubled social security "contribution."

LOL, that occurs to me often, but maybe that's your good copyright!