I don’t normally think about my accountant.
In fact, just writing that sentence seems odd; it is not, after all, as though I’m one of the 1% 1 and need to consult the lady daily. No, once a year is all I need avail myself of her services.
Even then there’s little reason to think of her a) this early in the morning, or b) this early in the tax season. As a longtime Fed my wages are relatively constant, there are no surprises to worry about or finagling over figures. It is what it is.
But there it was, her light green envelope 2 next to my laptop as I sat down at the dining room table with the day’s first cuppa. Freshly wakened, in a spectacular mood from some unremembered dream, I opened the letter.
Hmmm….”Dear Friends…We hope everyone had a happy and prosperous new year…tax breaks…expiring….mortgage insurance premium deduction…”
Wait a minute.
I distinctly remember that guy I voted for back in 2008 saying something like “If you earn less than $200,000 a year, your taxes will go down.”
Apparently that was just so much rhetoric. 3
Over the next two years, according to the CBO, taxes will rise more than 30%.
“In particular, between 2012 and 2014, revenues in CBO’s baseline shoot up by more than 30 percent,” said CBO, “mostly because of the recent or scheduled expirations of tax provisions, such as those that lower income tax rates and limit the reach of the alternative minimum tax (AMT), and the imposition of new taxes, fees, and penalties that are scheduled to go into effect.”
Well, shit. So much for my good mood.
Then I ran across this:
Huh. Like much else in life, it’s a wash: I get to live longer than the average bear, but will pay more taxes to do so.
Could be worse.
- Technically, I’m one of the 4%, but that figure changes dependent upon whose earnings table you use. ↩
- Yes, I get it – money. ↩
- Le sigh… ↩
- However, some studies report the greater the age gap between a woman and her husband, the shorter her life expectancy, regardless of whether he is older or younger. I think we’re all agreed Nora doesn’t need hear of this, n’est-ce pas? ↩