Thursday, February 02, 2006

taxing trials

after a preliminary online filing attempt today, i discovered that i have reached a new milestone in my adult life. for the first time EVER, it appears that i actually OWE money to the federal government. despite the fact that my gross income is less than last year, my tax burden shrank slightly, the standard deduction increased, and my student loan interest deduction was constant.

at first i thought--perhaps this is my employer's fault for not deducting sufficient tax every month. then i realized the truth: by having to pay taxes this year instead of having a refund, the government has virtually guaranteed that my rate of savings this coming year will double and that i will singlehandedly raise our national savings percentage rate to a respectable level again.

now that is what i call sacrifice for the common good.

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