Sharing Daily Discoveries About Personal Finance And Business Topics

Mentality of Paying Taxes

I was just reading that story about how the actor Wesley Snipes has apparently been given a prison sentence for evading his taxes for so many years. My immediate reaction to a person like that not paying his taxes is that he probably made so much from his line of work that even if he had to sacrifice his entire pay from a project that he will be well off.

While even I admit that the notion of having to give a large chunk of your income away is undesirable, in some funny ways I have the mentality that paying more as a direct result of the income tax brackets is more of an achievement of sort as for the most part the money is going towards stuff I am using. That doesn’t mean the sense of achievement is you are losing more money and that the more you lose the better.

Rather, it’s kind of like say someone that makes $5000 a year and pays no taxes versus someone that makes say $20,000 and has to pay say $3000. In some ways making that $20,000 and paying the $3000 just seems more like an accomplishment in the overall picture. While it’s not exactly charity, I guess with that mentality you can view it where being in the position to earn that much and paying more taxes is like you are contributing more to you place you live in.

Just one way to look at it I suppose if you dread paying taxes and even fathom the thought like above where you try to avoid doing it all together.




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