Posted 29 December 2008 - 09:59 AM
Posted 29 December 2008 - 02:00 PM
Posted 30 December 2008 - 02:55 AM
Posted 30 December 2008 - 06:46 PM
Posted 31 December 2008 - 03:03 AM
So, Mrs. Samurai, being real good with money and budgets, ran some interesting calcumulations. Turns out that out of that $100K+ that I made, we only kept a little more than half after we paid all the local, state, and federal taxes, including the self-employment tax, and medical insurance. We have three kids and medical insurance for a family of five is well over $1000/month, which would not be an onerous expense if I was allowed to simply keep the money that I earned. And I was making too much money to qualify for medicare for the kids.
Suddenly, the light bulb went off. We realized that if I simply worked less, my tax rate would go down, maybe even to the point that I would get earned income credits; we could qualify for medicare for the kids and maybe some other gubmint handout programs, too; and the quality of our family life would improve.
Now, I'm not a fan of all these gubmint handout and redistribution programs. But the sad reality is that most people are and keep electing socialists and Marxists to the White House and Congress because they think they're going get to a free lunch. So, our reality check: welfare ain't going away in our life time; the tax system is constructed in such a way to keep people from becoming financially independent, not to "tax the rich," as the class-warfare rhetoric goes. With that kind of confiscatory taxation, there was no incentive to work hard because all it was gonna git you was ulcers, a wrecked family life, and a big spare tire around your waist.
Since making money was not the answer, we looked at the other end of the money equation: spending less. We radically simplified our life and sold off a bunch of stuff we don't need, started a garden and raise chickens. Food is probably the second biggest expense in every household (rent or mortgage payment is usually #1). I do swap work with an organic dairy in Vermont (I fix his equipment in exchange for organic raw milk). This has substantially reduced our food expense. We rarely eat out at restaurants. We do not take expensive vacations to resorts or Disney World or any of that crap. But we do take vacations-- we go family camping in the summer. We don't go out to the movies; we rent from Netflix, instead. My 16 year-old daughter helps with income by babysitting and doing sewing repairs for people. My two boys help me on service calls. Mrs. Samurai homeschools the kids and is a consummate frugal gourmet. And now, with a lower income, the kids may soon qualify for medicare so we can drop our medical insurance. And our federal taxes have been slashed to almost nothing.
Our family life is vastly improved but we lament that the System is setup such that in order to survive with any kind of quality of life, you have to plan on deliberately living at the poverty line. The Welfare State has changed the "Land of the free and home of the brave," to the "Land of the freeloaders and home of the depraved." And, unless you're making several million dollars a year, like Hank Paulson was as CEO of Goldman Sachs, then the System forces you to live at the poverty line; it is futile to try to earn your way out of it because they just take more and more of what you make. The solution: work less, make less money, suckle the teat of the Welfare State, and cultivate an appreciation for things that don't require money (or not much, anyway): family, friends, a beautiful sunset, a cool garden, fresh eggs from your own chickens, a good book, a hike up a mountain, and hangin' here wif mah homeys. :afro:
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Posted 08 January 2009 - 01:34 PM
Posted 18 August 2009 - 05:12 PM
i was never really interested in the big companies. i just wanted to work for someone for a few yrs. and then go out on my own.
Posted 24 December 2009 - 02:14 AM
At about 5 years in I managed to screw up my right shoulder. I didn't have heath insurance and couldn't afford an operation, so I tried to keep working. I then screwed up my left shoulder, then my back. After 13 years of running my own business, my left knee is starting to fail too. Appliances are hard on your body and you probably won't get rich. (I'm pretty much broke)
I'd have been much better off staying with my former employer. By now I'd be in a lot better shape both physically and fiscally. The problem with running your own small business is the government never, ever helps you. Now if you make a mistake, they are more than willing to jump down your throat and screw you into the ground.
If you haven't noticed, we are moving to a two part society. The very rich and poor or the soon to be poor. If you aren't very rich, then soon you will be forced into poverty. Taxes and more taxes are our future. Mega government is here and it wants to regulate every part of your life. It will force you to do this, force you to do that and if you don't want to, it will fine you as well as tax you to death. Your best bet is to quit trying and live on welfare. I struggled on through lots of pain and very little sleep. Trying to keep working, trying to make money. Is the government compassionate? Not a chance. they want "their" money, and if you don't pay it in, they are more than happy to stomp all over you to get it.
My advise, don't start a small business.
Posted 24 December 2009 - 02:59 AM
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Posted 30 December 2009 - 08:12 PM
Posted 09 January 2010 - 07:10 PM
I think it depends a lot on where you live as well
This is KEY right here... When I hear 30K a year, I about fell off my chair. Southern California has at least DOUBLE that ... Then again, rent for a 1 br here can run about 2k a month. (location of course)
One guy I trained about 16 years ago, his boss told me he made over 100k in 2008 (when the economy was still-a-kickin') Wouldnt surprise me though if he grossed 70k in 2009
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