It’s not exactly easy street for our $250,000-a-year family, especially when it lives in high-tax areas on either coast. Even with an additional $3,000 in investment income, they end up in the red — after taxes, saving for retirement and their children’s education, and a middle-of-the-road cost of living . . . In reality, to make ends meet, this squeezed couple would have to cut back on discretionary expenses – take a pass on a new suit, skip an annual vacation, and drop some kids activities. Unfortunately, the family would also probably save less, at the expense of their retirement or their kids’ educations.
The goal of the article is to shame all of us greedy underachieving fellow citizens of the hard-pressed families with such an income into rethinking our insistence that they pay taxes. Imagine that! A poor individual who leads a hand-to-mouth existence on just $250,000 per year will have to take a pass on buying a new suit. And all to pay some stupid taxes that do not benefit this individual in the least. I mean, it isn't like her uses the same roads as we do, relies on the same police officers and fire-fighters, expects the same military to defend the borders of the same country. And we expect such a valuable member of soicety who gets nothing back from that society to give something back? That's just wrong.
Thank you, Mike, for pointing me towards this article.