I post this, as it may be helpful to understand just how significant the effects of taxation are.
Mathematician that I am, Irecently worked out the dollar effect formulas. And I think it is very enlightening and educational. If a dollar is doubled each day for twenty days, at the end of that period, the amount held will be over a million dollars: $1,048,000. If taxes of 30% are taken out of the original dollar, and each amount of increase thereafter, after 20 days that same dollar yields only $28,449. Staggering, but real! My own blog comment where I've posted this is here, and the rigorous formulas are here.
$1,000,000,or $28,500. Taxes are a HUGE drain. I know we must always have some taxes; but it's incredibly helpful to understand just how much taxation really costs us, so that we may make better choices.
country.
Thanks,
Don
