It was fun.

There is a budget talk going on in Washington. So I did little study trying to find out why the government has so much debt. Of cause, the government is spending more than what they have. They need to cut the cost but how about the income side?

I found out from the little research that US government used to tax 50% income tax over $212,000. In 1963, the top bracket income tax rate was 90%. It is all 35% now. I do not like to pay tax, but I think I am willing to pay higher than this 35% if I am making say $500,000 or more.

http://en.bloguru.com/files/d29d7202c7dd51f86032825f85be8e58

Above link show the history of the income tax rates. Also, the graphics above is what we have been taught ... Is it true? This formula does not work for everyone. It seem to work for a few rich people.

I again, I do not want to pay tax if I don't have to. But this low tax thing does not seem to work. It was fun, but it might be time to pay up.

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