The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: bentway who wrote (29342)	7/17/2011 9:18:43 PM
From: THE ANT	39 Recommendations Read Replies (8) of 119360

I am a physician working 70 hours a week to make that kind of money.A recent study by a Boston University proffesor found that plumbers make more after tax money in their lives than do physicians.That study likely did not include that fact that plumbers probably dont pay tax on some of their cash income where as in my case 100% of my income is W2 or 1099 and all taxed.I never made over 20K a year until age 30 and worked 60-70 hours a week ages 20-30.I am retiring early (around 50 years old)next year (that means working 30 hours a week for 6-8 months a year from then on) I now pay 50% income tax/medicare tax on my last 100K and that is the weekend/ late hours work.I need to worry about being sued and multiple other issues and have already decided it is not financially worth my while to continue.There is a shortage in my feild of work ,as an economist undergrad I am careful with govt money and calculate I save the govt millions in Rx cost.I am also the best in my field and save millions there too (snear if you wish its the truth) More truth, 50% of Americans pay no Federal tax and only 20% of their eventual medical costs after age 65 and 50% of there eventual cost to the Social Security System(my estimate from a Cato study from 1999 in which the return on money put into Social Security had the highest return of any asset class in 30 years including stocks---and this was near the stock market peek---if the study was done now the govt subsidy to SS would be much higher)These people have spent the last 20 years driving fancier cars than mine and likely living in nicer house.The gig is up.We are like Brazil was 15 years ago.The needed changes will not come until a gun is at our heads and our back is against the wall.We are not there yet and many stupid moves will happen first.I have watched Brazilian minimum wage go from $30 a month with 30% a month inflation to $300 a month with 5% inflation a year(these workers pay no tax,get SS,have free health care and get a month vacation a year)This happened as the hard changes were made.The US needs a VAT tax on consumption.If we want the medical care and benifits of the Europeans we will need to consume less and all pay more tax and live like them in small houses with small cars.If those in the 50-250K tax bracket dont pay more the most productive high income workers in 250-500K range will just shift back to that range and enjoy life a little more.In my opinion the enemy is Wall Street and the Banks.If you want less of something then tax that.I have no issue with a wealth tax or higher tax on incomes over a million but that will not solve our problems.All Americans will have to live with less and pay more in tax.We are losing wealth we never really owned.When we one day stop hitting our heads against the wall and make the hard changes things will again improve.By then I fully expect the average Brazilian to be living beter than the average American.I for one have done my job,paid my taxes,and screamed from the roof top what was coming,what did come and what will come.I will sit and watch.Many of you as good Americans will put me on ignore.That is how you do it

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