Taxes 101

Info from an accountant (okay, he's a writer, too):

"So, income gets taxed higher. Investments get taxed lower. That’s why rich guys who now live off of their investments pay a lower overall rate. That’s why Buffet’s secretary gets taxed at a higher rate than her megalomaniacal attention whore of a boss."

Larry mentions that most of his income hits as a 1099, so he has to send in his payments without assistance from an employer. I think Uncle was that one that suggested if we all had to actually write the big check every year to the government instead of the money being taken out every paycheck, we'd be a lot more upset. W-2's are hitting mailboxes. Now is a good time to think about that number.