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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Feb. 19, 2007 / 1 Adar, 5767

Perfect scheme for reducing taxes

By Tom Purcell


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http://www.JewishWorldReview.com | Let me get this straight. You've developed a foolproof scheme to dramatically reduce your taxes.

You got it. I've been working to perfect it for a long time, but, boy, does it work.

Get to it then.

In the old days, I dreamed of getting rich. I started my own business and worked my tail off. It was then I learned I had silent partners.

Silent partners?

Yes, the local, state and federal governments. They considered every dollar of profit a dollar of taxable income. When I realized how much my taxes were, I nearly choked.

But of course. When you were an employee, many taxes were hidden from you. When you become self-employed, you got hit with every one.

Precisely. My employer had paid half my Social Security and Medicare taxes. My employer paid my workers' compensation, health insurance and other benefits. I had no idea that the total cost of employing me was roughly 30 percent more than my salary.

At least 30 percent.

Now I know that Social Security and Medicare eat up 15.3 percent of my income. Add in federal, state and local taxes and my total rate is shocking. The income I earn beyond $31,000is taxed at 44.67 percent. Income beyond $75,000 is taxed at 47.67 percent.

Serves you right for being "rich."

Good one. I never understood why I was punished for making more. If I generated $100,000 in income, for instance, the taxes I'd pay on the first $50,000 would be roughly half as much as on the second $50,000. The higher my income, the higher the percentage taken by my -

Silent partners? That's the breaks in a progressive system.

But why not encourage people to earn more? Why not a flat tax that rewards hard work? Then people work harder, earn more and pump more back into the economy. The economy booms and the government gets higher receipts on lower tax rates. It's not rocket science.

You're speaking common sense, but when did common sense ever have anything to do with taxes?

Well, I got tired of working twice as hard to keep half as much. So I stopped working hard altogether. I started working part time. My revenue fell to half what it normally was.

Half! That's no good.

But it was great! I got a cheap car and a cheaper place to live. I spent more time at the park. I got more books at the library. Life was better than ever. And then I got an unexpected gift from my silent partners!

A gift!

Yes, a tax refund, the first I'd gotten in years. Because my income was down to half, my tax burden dropped significantly. It was then that I stumbled into my tax-reduction scheme.

Go on.

According to The New York Times, the top 20 percent of income earners paid 67.1 percent of all federal taxes. But families in the bottom 40 percent paid no federal income tax — yet they still received money back from the government.

I'm listening.

That's when it hit me. I had worked so hard for so many years. I spent thousands on CPAs, trying to minimize my taxes. But the key to low taxes was right under my nose all along: just earn less!

Very clever.

I know it is selfish of me to earn less. I know it is bad for the economy and the government. But it is what my silent partners have encouraged me to do. Democrats in Congress will surely raise taxes — they'll encourage me even more!

I hate to admit it, but your ideas are oddly sensible. Where to from here?

I'm still perfecting my scheme, but next year I hope to earn even less. Maybe one day I'll finally earn nothing!

Nothing?

We all have our dreams.

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