You said a sales tax is great, because you can decide when or if to pay. Kind of like deciding not to pay taxes on money put into a 401K or IRA.
Getting an extra week of paid vacation gives me a benefit that the government can't tax. Buying muni bonds gives me income that the government doesn't tax. Paying tax deductible interest or property taxes lowers my taxable income.
You won’t cut your taxes much using a 401K.
Why not?
Working off the books is illegal BTW.
Really? And yet it still happens.
I'm glad I could educate you on ways that people can limit the taxes they pay under our current system. Let me know if you need any more education on the basics. I'm always glad to help.
Let’s say you lower your taxes by putting $200 a month into a 401k. Actually, you have just taken that money from your cash flow. Although your taxes did go down, your disposable income went down a whole lot more.
” Let me know if you need any more education on the basics. I’m always glad to help.”
I’ll just wait until you reach adulthood.