I had the water pressure regulator fixed yesterday. Well, actually, my wife did. Looks like it will cost about $160 in plumber fees. That’s roughly $320 of earned income. Someone told me that moving to California would provide an opportunity to make lots of money and go bankrupt. How true! This “earn money – spend money” lifestyle is killing me. It was easier when I earned little and spent little.
I’m getting the car tire repaired today. It’s been 1.4 hours now, as I read through professional journals and will dive into a slide presentation I’m working on, next. Each marginal dollar I earn is pretty much gone before it’s made. 52% to taxes, including California state tax. My kid’s college finiancial aid forms levy a marginal rate of 48% on my gross yearly earnings as “Expected Family Contribution” toward their college costs. Twelve percent of my savings (cash, investments, land, business) are hit at the same rate. Folks, add it up. It adds up to 100% of my gross earnings, and 5.76% of anything I’ve saved. Per year. It’s not worth earning an extra $100 because it goes away just as quickly, pre-allocated in the big conveyor belt of life.