Reply to For those with high HHI ($500K), tax saving strategies

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Talk about first world problems lol my 30% tax rate is twice the median household income in the US whatever can I do about it? [/quote]

Well most of us got to that place by choices we made.  I grew up poor, neither parent went to college, I've had free lunch several years in school, and we were on/off from food stamps whenever parents were laid off.  Yet I managed to go to college, pay off my college debt and do well in life.  Nothing was handed to me, I had to work hard for it all.  Yes, I recognize there are others who have it "worse" but my life wasn't a picnic.  I just knew working hard and an education was key to a better life.  Then I chose to live within my means and save save save and take career risks to advance.  
The fact that those making $178K+ pay approximately 80% of the taxes in the US means that why yes we are in fact providing for the vast majority of society.  It's our taxes that make roads, infrastructure, schools, and everything else happen.  We more than pay our "fair share"

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You acknowledge that for years you benefited from government programs.  And now you don't want to pay into them?[/quote]

Can you read?  We have contributed far more than most.  My family used those benefits for a total of about 2 years in my lifetime.  We've paid $500K+ into medicare in our lifetime (probably much more), and that's just medicare.  Happy to pay, but at some point, no I don't need to pay more.  So we will do what we can to avoid estate tax issues (at both federal and StaTE level---our state starts much lower and would affect many people more than just us).  That money was taxed once and we don't need to send 40% of everything above $3M to our state when we die.

We also contribute smartly to organizations that provide much more than the govt does with our tax dollars.  I'd prefer to have it go locally to organizations that actually maximize it
[/quote] 
You haven’t contributed enough. Freedom is priceless. Your contributions are still needed to support our defense spending. We all benefit from it. [/quote]

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