[Myrddin]

The only real defense I have for the punishing consequences of the progressive tax code is to participate in the "key employee" salary deferral program. The company will simply credit an account instead of paying me. I can draw on the credit when I retire. There is a big potential risk in the deferral...the company might not be solvent to pay what I'm owed. I need to get off my backside and get my investments in gear to generate passive income. Eventually, even that will be attacked by the insatiable appetite of socialist spending programs.

I'm 50 right now. In 12 years I'll be 62...right when the "break even" is predicted. I think it will happen even sooner. The government doesn't really have a handle on the house of cards they've built by enormous taxation levied against a small group of successful people. That 5% of the population could stop earning income overnight and wipe out 90% of the government revenues.

[SomeCallMeTim]

Yea... I really believe one of the problems with our tax system is... not enough people are invested in it anymore.

When mean old W gave his "tax cut to the rich", my mother-in-law (who earned ~ $12k per year) was relieved from paying Federal tax at all. She had been paying ~ $1k per year. After Bush's Tax-cut-for-the-rich, she owed NONE. At the time, I was happy for her and thought it a good thing.

But, now.... I wonder if it wouldn't be better if EVERYONE paid SOMETHING. And, not just SS tax. Better that we all have a stake in the system.