Jaabir, one of the poorest richest friends I know, decided to take a vacation from not working by driving down to Indian Wells, California to watch the BNP Tennis Open last month. The tennis tournament is considered “The Mecca” for tennis fans everywhere given the terrific turnout of the world’s top pros and the intimate setting.
Before Jaabir left for the seven hour drive south, he urged me to go down with him for a week. I wanted to go, but I couldn’t because I had an interview lined up with a promising new company. I also wanted to be on standby just in case I got word from another potential employer. In other words, I was a dog on a leash. Woof.
To make myself feel better for not going, I started pressuring him to stay so he could do his duty as team captain by recruiting more ringers to help us defend our city championship. Why should he have all the fun right? I learned this strategy from so many who try and bring folks down if they can’t succeed themselves.
As usual, Jaabir brushed off my wishes because he’s free. “Sam, don’t worry! I’ve got everything under control. You are rich, why not live it up a little? Why do you not come with me to Indian Wells? Why work if we’ve got Obama, babay!?”
“Hmm, what the hell Jaabir! America ain’t no welfare country!” I retorted. But then I got to thinking about my own situation. Maybe Jaabir is right. Even though I was smarting for not being able to join Jaabir to tennis Mecca, I decided to write this post as a way to better understand his viewpoint.
Imagine diligently saving $100,000 over 10 years only to wake up the next day to see $93,250 in your account. Now imagine having to fork over $99,000 of your $1,000,000 nest egg right before you plan to retire. The Cyprus president has basically negotiated a 6.75% tax on all deposits under €100,000 and a 9.9% tax above this amount in order to receive bailout money from the EU!
I never thought we’d go over the 
Every IRS person I’ve spoken to has curiously been kind. Yet, despite their kindness, I still feel my heart drop every time I get a letter from them. I’m not sure whether it’s because the movies always portrays the IRS agent as a bad man in a rain jacket, looking to shake down individuals for all they are worth. Or, perhaps it’s the fact it’s little ‘ol you vs. the omnipotent government that presents a no way out scenario. Whatever the case may be, dealing with the IRS sucks.
The presidential election is just days away! This is when candidates start hamming it up and telling us all the great things they will do for us to gain or retain power. My favorite policies are ones that redistribute money from those who’ve earned it to those who haven’t. That rocks!
John Galt is a fictional character in Ayn Rand’s novel Atlas Shrugged (1957). The phrase, “Going John Galt ” or “Going Galt” is used to describe “productive” members of society cutting back on work in response to the projected increase in U.S. marginal tax rates, increased limits on tax deductions, and the immoral or inefficient use of tax revenues.
I just got done with two things: 1) Writing a check for another $1,000 more in taxes to the Federal Government for 2011, and 2) Re-reading the article, “
I’m confused and I need your help! There are supposedly millions of people in the world who believe a Republican is actually going to beat Obama and win the 2012 Presidential election. Of these fine people, many think Mitt Romney will be the leading candidate. You know, the one who on national TV bet Rick Perry $10,000 bucks on something he claims he did not say. Way to really connect with the American people Mitt! The average household income is around $55,000, and you’re talking $10,000 bets?!