I did my taxes this past weekend. Like usual, I had to pay extra even though I don't take very many deductions. That was expected. What I did not expect was it to be way more than I usually have to pay. My wife and I are both teachers and we make good livings here in California. Over the last 10 years we have consistently made a bit more every year (even during the cuts that happened after the last recession). But, all the increase has gone to pay for taxes and health insurance. Our take home pay has not increased at all in 10 years! This year we are on track to bring home less for the first time! This is so infuriating. The more we make, the more we pay. Now I don't mind paying for the things that make all our lives better (clean water, power, good roads and schools, fire and police, etc…), but at some point it has to be enough!
At this point it is very tempting to file for bankruptcy, have my wife stay home from work, and move to another state where there is no state income tax. I might not have that much less after I pay all my bills!!!!
What does that say about the state of our economy that when you make more money, and you end up with less? Why bother working harder? Why bother seeking to make things better? Why bother going to school to make yourself more valuable? There is no incentive to become more than you are.
Is anyone else in this situation? What are you doing about it?