The average income tax rate in the U.S. is 14.5% so I’m assuming that’s all they would need to run the government. Being that I am in the 12% bracket I’d be willing to pay the extra 2.5% for what I think is fair.
Hey Richard. That’s two weeks in a row you’ve been criticized for admiring the wealthy. Tough crowd.
Don’t you realize that they light their cigars with $100 bills?
The rich are always the people that make more than us.
i don’t see why Bezos or Musk or any other billionaire should pay a larger percentage in taxes than us. They worked harder than us to get where they’re at. They are the ones that drive this economy. They take the risks while we invest our money in Index Funds. They take their profits and invest them back into the economy to create more jobs. Without them we’d be a third world nation.
We ride their coattails then complain about how much money they have.
You’re right about that. I should have specified better. The penalty I was worried about was my Medicare Part B payment, which would be higher, because my IRMAA would be to high, and since they calculate from two years prior returns the IRS would use my return from when I turned 63. The RMD wouldn’t affect my SS Benefits, but would put me in a higher tax bracket. This way my SS payments are much higher, my Part B payments stayed at the minimum, and my future RMDs should remain in the 12% bracket.
I chose to wait until I my FRA. I’m assuming I will live past the break even point (79/80). But the real reason I waited was to rollover a large amount of my IRA into a Roth, so as to avoid being in a higher tax bracket when I’m forced to take my minimum distribution at age 74. If I started collecting at 62 my SS would have been penalized because of my Rollovers.
If you got out of the market because of incredibly high valuations on both stocks and real estate why would you get back in now? The valuations haven’t changed. Stand by your convictions and be happy with your 4.25%.
Comments
The average income tax rate in the U.S. is 14.5% so I’m assuming that’s all they would need to run the government. Being that I am in the 12% bracket I’d be willing to pay the extra 2.5% for what I think is fair.
Post: …..taxes and you
Link to comment from June 13, 2026
Flat Tax (KISS)
Post: …..taxes and you
Link to comment from June 13, 2026
Hey Richard. That’s two weeks in a row you’ve been criticized for admiring the wealthy. Tough crowd. Don’t you realize that they light their cigars with $100 bills?
Post: Peter Cancro from age 14 to 69 covered in oil and vinegar
Link to comment from June 6, 2026
I think a lot of the complaints about Musk are more political than rational. I love the dude no matter what his views are.
Post: SpaceX IPO: Is Margin Optional?
Link to comment from June 6, 2026
The rich are always the people that make more than us. i don’t see why Bezos or Musk or any other billionaire should pay a larger percentage in taxes than us. They worked harder than us to get where they’re at. They are the ones that drive this economy. They take the risks while we invest our money in Index Funds. They take their profits and invest them back into the economy to create more jobs. Without them we’d be a third world nation. We ride their coattails then complain about how much money they have.
Post: Billionaires, taxes and you
Link to comment from May 30, 2026
I’ll probably get a lot of downvotes for this, but who cares.
Post: The “Mean Girls”/Junior High Bullies at HumbleDollar
Link to comment from January 10, 2026
You’re right about that. I should have specified better. The penalty I was worried about was my Medicare Part B payment, which would be higher, because my IRMAA would be to high, and since they calculate from two years prior returns the IRS would use my return from when I turned 63. The RMD wouldn’t affect my SS Benefits, but would put me in a higher tax bracket. This way my SS payments are much higher, my Part B payments stayed at the minimum, and my future RMDs should remain in the 12% bracket.
Post: Social Security – Why I Chose FRA
Link to comment from December 27, 2025
I chose to wait until I my FRA. I’m assuming I will live past the break even point (79/80). But the real reason I waited was to rollover a large amount of my IRA into a Roth, so as to avoid being in a higher tax bracket when I’m forced to take my minimum distribution at age 74. If I started collecting at 62 my SS would have been penalized because of my Rollovers.
Post: Social Security – Why I Chose FRA
Link to comment from December 27, 2025
The greatest wealth is to live content with little : Plato
Post: Frugality, Minimalism, and Aligning Values
Link to comment from November 15, 2025
If you got out of the market because of incredibly high valuations on both stocks and real estate why would you get back in now? The valuations haven’t changed. Stand by your convictions and be happy with your 4.25%.
Post: Getting Back into the Market Now
Link to comment from May 24, 2025