Why does the IRS think I’m rich?
This might be more of a rant, but I finally got down to doing our taxes this year. Our income this year was $160,000 gross, and we live in California. Out of that we paid almost $3,000 a month for an apartment (3BR since we have 2 kids), $1,200 a month for 2 cars and insurance, $1,300 a month in student loans, and another $2,500 a month for utilities, groceries, gas and what-not. That adds up to $96,000 a year, and we certainly weren’t living like royalty. We netted about $120,000 after taxes, which leaves us with only $24,000 in a year to save for retirement or spoil our kids with, certainly not what I would view as wealthy!
So imagine my surprise when I find out that the IRS won’t let me claim my student loan interest or the child tax credit because I “make too much.” I can only imagine what will happen once I have to pay for government health care.
Here’s my question, am I rich?
Ah my dear fellow American, to a politician you most certainly are when it comes to taxes.
However, as you see, when you do the math in the REAL world those of us not in elected office must live in, not really.
You’re actually doing well though–most folks don’t have anywhere near $2K a month cushion in their lives–frankly most folks don’t have $200 a month cushion in their lives.
One reason for that, as you saw, is that with all those TAXES, your income gets chewed on hard. As the bulk of all taxes we pay is bogus–entitlements prohibited by the Constitution (someone please read Amendments IX and X–preferably to those in office)–the government has grown accustomed to trying to morph into a nanny state (oddly while many parts of the world are trying to fully shed that idiocy!).
That is why they have to turn to folks like you who are paying your own way and steal from you so they can continue to keep their various poverty industries alive.
You’re just going to have to keep an eye on them and current events and use the one thing we still have power over–the vote–and demand they start moving towards a Constitutional sized government and some sense.
Good book you’d probably agree with:
Save America, Save the World by Cassandra Nathan–it’s searchable on Amazon.com
As you brought up health care, you might like her thoughts on reforming the MILLIONS on the different government health programs now while ending the problem of the uninsured–NO mandates, no employer payments, no increase in taxes–it can be done.
QUALITY, ACCESSIBLE, AFFORDABLE health care for all.
That means preventative care (physical with follow up). Real medication (no Medicare “donut holes” the really ill are ripped off again.) No bogus ridiculously low “caps” on needed medical procedures. No abuse of the ER. No paying for the silly with the sniffles to go to the doc for free. No more bankruptcies over medical bills. I want THIS plan that ends abuse of the taxpayer, takes the burden off employers, provides price transparency, and ends the rip-off of the US taxpayer at the hands of greedy insurance CEOs (which has been repeatedly documented).
http://www.booklocker.com/books/3068.html
Read the PDF, not the blurb, for the bulk of the plan. Book is searchable on Amazon.com
Cassandra Nathan’s Save America, Save the World
Anthem Blue Cross, Blue Shield, California Health Insurance $45/month – NoCobra.com
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