What prompted you to shrug?
I have not officially shrugged, but I think I'm ready to do so, at only 47 years old. I have sold off two startups. One was an alternate to the EPT pregnancy kit. The second was a biofuels to chemicals company.
I am a professor at Florida Tech in chemical and biomedical engineering, and have founded a nanotechnology minor program. I enjoy my work thoroughly. Florida Tech is a private, non-tenure-granting institution, and is probably as close to the Patrick Henry University as one will get nowadays.
Nonetheless, after completing my taxes yesterday, I realized that I have not gained on retirement since 2000, at which time my wife and I were in our mid 30's and almost millionaires.
If I didn't like my current position so much, it would definitely be time to shrug.
In my mind, there is no country out there, including America, that embodies Galtish values. I think my tipping point was when the Obama administration "offered" them $225 for $100000 of GM bonds back in 2009 during the Cash for Clunkers union bailout at bondholder expense.
I am a professor at Florida Tech in chemical and biomedical engineering, and have founded a nanotechnology minor program. I enjoy my work thoroughly. Florida Tech is a private, non-tenure-granting institution, and is probably as close to the Patrick Henry University as one will get nowadays.
Nonetheless, after completing my taxes yesterday, I realized that I have not gained on retirement since 2000, at which time my wife and I were in our mid 30's and almost millionaires.
If I didn't like my current position so much, it would definitely be time to shrug.
In my mind, there is no country out there, including America, that embodies Galtish values. I think my tipping point was when the Obama administration "offered" them $225 for $100000 of GM bonds back in 2009 during the Cash for Clunkers union bailout at bondholder expense.
For me - Retirement is somewhat of a misnomer, because it is the opportunity to put more time into *my* business,... the traditional "sit on ones laurels and collect free money" retirement model scares me - if I'm not producing, not contributing, not challenging (and being challenged) then, well, to me, that's the end, mate, and you may as well grab the shovel and start digging.
Even tho his field was totally different than either of mine, one of the pivotal books I ever read (other than AS) was "the Romance of Commerce" written by H.G. Selfridge - his love for his field and his ability to produce comes through in his writing, and is inspirational to say the least.
Those who do what they love, and love what they do, have a live-giving sense of fulfillment that you can't match anywhere... and makes the difference between a prodcer mindset and a moocher mindset.
I already have some health problems, and I have lost a lot of income during my prime earning years because of the policies of both Republicans and Democrats.
a) Gulf War I was achieved without any tax hikes.
b) Analysis of Social Security continually showed the program would go bankrupt, but the masses of Americans clearly would not accept its disbanding.
c) The Congress and the public at large viewed President Clinton's scandals as unworthy to merit their attention until semen entered the picture. Clinton's second election.
d) My company opening a gym and offering its use to employees for a fee. How much was the fee? That depends on how much money one made. When I replied "This is Marxism", I got mostly blank stares. One person commented that it seemed fair because that's the way Planned Parenthood operates.
e) Digitization and harmonization of drivers licenses among states. Setting up of traffic cameras everywhere that could decode a car's license plate. Discovery that vehicles could be tracked via OnStar or via toll transponders that in many areas became manadatory.
f) The move to drive as many financial transactions as possible away from cash and checks, in favor of debit/credit cards. The erecting of FINCEN which made banks file federal paperwork every time significantly large cash withdrawals were made.
g) Supposed at-the-moment drafting of the 300+ page US Patriot Act within a month after the Sept 11 attacks, and subsequent passage with just one representative voting against it.
h) Echelon, TIA, PRISM
i) Obama's second election.
I could go on. These are just the highlights that pop into my head given five minutes of thought.
Find another state with an equal educational establishment. One of the other seven states that doesn't have a state income tax. One that
doesn't have Fla's corporate income tax..
Take up a new endeavor. Investing. Where the capital gains tax is much less than income tax.
Harry M
I'm not knowledgeable about the details of the bailout. Would bondholders have received more in a standard BK? I know bondholders are pretty high up on the list of people to get paid, but I don't know what GM's situation was.
1. The company had “unofficially” adopted a compulsory charity donation system for all salaried people in which the amount paid increased the more you made. They even called it a “fair share” donation.
2. My wife was practicing infidelity with members of her own sex with the attitude that she was being brave in living out “who she really was” regardless of the fact we had a child.
3. I realized that society as a whole was beginning to agree with her.
4. I was bringing home less money than hourly people who, on paper, made less than me due to taxes.
I left that life and wife. I live now in a different state, am married again, make a third of what I did, and paid less than 2% in annual taxes.