“I had discovered I was paying a huge amount of money to the taxman,” he once explained in interview. “You are so happy that you’ve finally started earning money – and then you find out about tax. In those days we paid nineteen shillings and sixpence out of every pound (there were twenty shillings in the pound), and with supertax and surtax and tax-tax it was ridiculous – a heavy penalty to pay for making money… It was, and still is, typical. Why should this be so? Are we being punished for something we have forgotten to do?...That was the big turn-off for Britain. Anybody who ever made any money moved to America or somewhere else.”
One of the best kept tax secrets has been the postponing of filing/paying your California Income Taxes to coincide with the federal postponement.
We paid our half yearly property taxes to keep our local government semi afloat.
Our sons’ best lesson to become a conservative or a good independent was their first paycheck stubs with all of the various tax deductions. One still has that stub on his little personal bulletin board, and he is now 52.
For us, Tax Day will be July 15 this year. We pay quarterly and Q1 and Q2 payments are now due by July 15. We’re simply going to escrow the money into some high-yield accounts and pay it off then. It can’t hurt to have additional cushion with our existing emergency funds, I guess.
“Ice? What ice? That’s no ice here.”