Wasted Money or How to Save Money

[jmc]

...I used to be in the top tax bracket, paying 53% on last dollar earned so I concentrated on spending less rather than earning more. If I saved $100.00 by doing something myself rather than hiring someone, I'd have had to earn over $200.00 to have that $100.00 left after taxes.

Good point.

On a related note, pundits tell us if, say, inflation is 3% and wages increase by 3%, then we're keeping up on buying power. Nope. A 3% wage increase is only about 2% after taxes.

 

[WinterDeere]

Income taxes have come down a bit since I retired so I might do things a bit differently if I was still working. I used to be in the top tax bracket, paying 53% on last dollar earned so I concentrated on spending less rather than earning more. If I saved $100.00 by doing something myself rather than hiring someone, I'd have had to earn over $200.00 to have that $100.00 left after taxes.

Good point. But taxes are quite a bit lower here in the US, versus Canada. Top bracket here is only 37%, and that's only on earnings above $610k. The 1%'er threshold is presently around $450k, making that $610k threshold truly rarified air.