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<blockquote data-quote="JB Books" data-source="post: 1993625" data-attributes="member: 6889">Having to pay a lot in taxes is a good problem to have.&nbsp; Typically, it&#039;s people who cannot manage their money who have problems.&nbsp; Lawyers in my field are some of the worst. For example, I settle a case and get a $200,000 fee and decide to take it out for myself.&nbsp; I have to be aware that really only about $125,000 of that money is mine.&nbsp; I better hold back $75,000 for my quarterly payments.&nbsp; A lot of guys don&#039;t do that and when it is time to pay taxes, they are in a world of hurt.Growing up with grandparents who grew up during the Great Depression helped me a lot.&nbsp; I&#039;m a compulsive saver.&nbsp; I&#039;ve avoided the traps many of my friends fell into...lake houses, boats, airplanes, etc.&nbsp; Instead, I concentrated on having no debt (except on property), stocks and bonds, and real estate.&nbsp; That being said, I sure as Hell would not want to pay 91% tax rates, and like tRdoc, I would reduce my productivity and my business ( resulting in my laying off many employees).</blockquote>

[QUOTE="JB Books, post: 1993625, member: 6889"] Having to pay a lot in taxes is a good problem to have. Typically, it's people who cannot manage their money who have problems. Lawyers in my field are some of the worst. For example, I settle a case and get a $200,000 fee and decide to take it out for myself. I have to be aware that really only about $125,000 of that money is mine. I better hold back $75,000 for my quarterly payments. A lot of guys don't do that and when it is time to pay taxes, they are in a world of hurt. Growing up with grandparents who grew up during the Great Depression helped me a lot. I'm a compulsive saver. I've avoided the traps many of my friends fell into...lake houses, boats, airplanes, etc. Instead, I concentrated on having no debt (except on property), stocks and bonds, and real estate. That being said, I sure as Hell would not want to pay 91% tax rates, and like tRdoc, I would reduce my productivity and my business ( resulting in my laying off many employees). [/QUOTE]

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