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As a matter of fact...
Posted by Rafe (more from Rafe) on Tue, 19 Jul 2005 20:59:43
In Reply to: Anyone take a pay cut for job satisfaction....., Thom, Tue, 19 Jul 2005 11:30:56
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...I dropped out of mainstream employment altogether and went free-lance. I keep up contacts in my field with part-time project work, but I have few workplace hassles, and most income now comes from trading and investing. Capital gains are taxed at 15% (long term) and 38% (short term). Employment earnings are taxed at 38% income tax plus 15+% SS. But that is only the beginning of the story: commuting, business clothing, dry cleaning, expensive meals in restaurants, etc., are all uncompensated costs of employment. Plus you never see your kids. Ask yourself, would you rather have $100,000 per year in employment income, or as little as $50,000 per year in long term gains plus some trivial consulting income? Which provides more net income AND a better lifestyle? Uncle Sam's crazy tax policies are telling you to quit your job!
Posts in this Thread:
- Anyone take a pay cut for job satisfaction....., Thom, Tue, 19 Jul 2005 11:30:56
- Yes, and I've looked back several times..., Erik, Wed, 20 Jul 2005 15:05:37
- Sure, and never looked back..., Noel, Wed, 20 Jul 2005 05:52:08
- Wow...thanks for the feedback!!, Thom, Wed, 20 Jul 2005 04:10:28
- As a matter of fact..., Rafe, Tue, 19 Jul 2005 20:59:43 <-- Viewing This Message
- Just did this, kind of, Spencer, Tue, 19 Jul 2005 19:43:59
- I got lucky....., frefoo, Tue, 19 Jul 2005 17:37:20
- I took a substantial cut for the right job..., Indiana Saab, Tue, 19 Jul 2005 17:28:34
- Re: Anyone take a pay cut for job satisfaction....., Bill in VA, Tue, 19 Jul 2005 15:38:09
- Just did this!, dcjayhawk, Tue, 19 Jul 2005 15:17:04
- Similar but different situation, steve, Tue, 19 Jul 2005 14:54:03
- Also took a 50% cut, John in Bismarck, Tue, 19 Jul 2005 14:42:26
- Yep - 50%, Scott Paterson , Tue, 19 Jul 2005 13:44:09
- Re: Anyone take a pay cut for job satisfaction....., LesH, Tue, 19 Jul 2005 13:20:54
- You could cut my salary 30% to get me outta here, NickR, Tue, 19 Jul 2005 12:37:00
- I left mechanical engineering to teach high school >, Mike in Anchorage, Tue, 19 Jul 2005 11:41:39
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