[ExI] rugged individualists

[Kelly Anderson]

On Thu, Jul 14, 2011 at 2:49 PM, Damien Broderick <thespike at satx.rr.com> wrote:
> On 7/14/2011 3:26 PM, Kelly Anderson wrote:
>
>> Every year since 1999 when I paid $502,000 in federal income tax,
>
> Good grief. What follows might be regarded as a rude question (but you did
> volunteer that information):

Not at all. I think it is instructive.

> How did this happen? Was it cumulative non-paid tax over many years? Does it
> include some monstrous IRS fine? Did you make more than million bucks that
> year? (I gather that the top tax rate on regular income that year was 40%,
> and 20% on capital gains, which seems to imply that in 1999 you still
> managed to keep more money than I've ever made in my life, aside from
> selling my home and buying another with the proceeds.) Tax of half a mil in
> a single year seems a bit inconsistent with your woes about living on the
> street, etc.

It was the year I sold the company (ViewSoft) that I co-founded in
1991. Years of near poverty before and after (although not immediately
after), but the one year of astounding success was punished severely
by the government. It was a capital gains tax on $1.8 million dollars.
Despite the liberal hogwash to the contrary, there were NO tax dodges
that would work. Rich people pay their fair share. If it had been
regular income, as opposed to capital gains, the rate would have been
even higher.

> If this *is* an outrageously personal and offensive question, my apologies
> and please ignore it.

Not at all...
http://lib.store.yahoo.net/lib/demotivators/mistakesdemotivationalposter.jpg

Fortunately for my immortal soul (hehe) I shall pass through the eye
of the needle with no effort thanks to my two ex-wives...

-Kelly