|"Forty-Seven Percent of Americans Pay No Income Tax"|
April 15th found me at the Post Office, grumpily mailing my tax return. So a message from Henry in the WALL STREET JOURNAL caught my eye. Henry, by definition, is a "high earner, not rich yet". Henry describes himself like this:
-- In the 32 percent federal, 10 percent state income tax.
-- Pays a one and a half percent property tax on inflated bracket value of his house.
-- Pays the alternative minimum tax.
-- Self employed and pays a payroll tax.
-- Pays investment tax on any savings or retirement funds; by the way, money on which he's already paid as income tax. He worked as a kid -- lawns, shoveled snow, delivered papers. Went to college on loans, working nights to pay back the loans. Now, twenty years later, Henry has a new car.
-- Lives in a good neighborhood.
-- Has retirement savings. Henry feels that maybe he does have much more than others, but he also worked harder -- building his business 60 to 70 hours weekly.
He's asking: Why does the government feel entitled to take his money and give it to others? He's a believer in personal responsibility. Henry is not a believer of equal outcomes regardless of effort. He is a believer of the American dream -- the opportunity to work and get ahead. Really trying Henry's patience is the news that 47 percent of Americans pay no income tax. Henry's tired of being the mule.
(Click the Play button below to watch video)
| Forward to a friend|
| No Comments|
| Add your comment|
| Themes: Finance, Taxes, Freedom|
More about "Getting Your Money's Worth"
As the title of the show, "Getting your Money's Worth" implies, the show concerns itself with gaining value as a consumer of education, health services or, indeed, as a tax payer. Everyday consumer spending will be included. The dialogue may not present solutions, but certainly will present alternatives in an entertaining and colorful way with experts in their respective fields.
Ms. West, a former educator, is president of Westco, her own privately held company. Westco designs and manufactures fixtures for such blue chip companies as Disney, Universal Studios, the NBC Experience Store and many others. Business people, authors and journalists, educators, politicians and actors will be interviewed in 15-minute segments with civility and dignity. "I don't care what your politics are, if you have a point of view and have a story to tell that is timely, you'll get a chance to freely air your opinion," says the attractive New Yorker.
For more information, please click here. You may also contact Judith West at 212-685-5050, ext. 228, or Judith@GettingYourMoneysWorthNYC.com.
Opinions stated in the interactive areas and discussion forums of Getting Your Money's Worth are not necessarily those of Westco Media or its principal members and operators.