I am now officially poor.

I did a rough draft for my 2009 Taxes and discovered that I am officially poor. My Federal Tax liability was ZERO!!!!! Wow, it really does "pay" not to work for a living. Zero federal taxes.

THE POVERTY LEVEL FOR FAMILY OF TWO IS $14,500


With just my wife and myself and an adjusted gross income of less than $9,000.00 we are now poor.
Since I am now "officially poor" don't I qualify for a new Cadillac or something?

Where do I go to get the free cheese, utility bill assistance,Section-8 housing assistance and my new LCD television etc.

This is first year since I was 11 years old that I didn't receive a W-2. All income is from dividends,interest, and capital gains.


I don't mean to belittle others out there that are struggling with their bills and having a rough time. Just accept this post for the jest that I mean it to be.

I can stay "poor" as long as my 401-K and savings accounts can continue to diminish each year. I haven't touched the 401K/IRA yet. We're still living off our savings. It helps to have all property and vehicles,etc paid for.

Oh, I sold my Mercury Mountaineer the other day and that helped to pay for a medical bill I just received for services back in August 2008! I've still got a little left over for my annual spring trip to Lake Barkley,KY for a week and all the excursions to the Ohio river by McAlpine dam in Louisville,KY

However, I will gladly accept any and all contributions to the
AID TO TYME2FISH FISHING FUND FOR 2010

Re: I am now officially poor.

Welcome to the club, T2F.

Re: I am now officially poor.

Don't let the kids know you had an AGI of $9k...... they will ask for money.

Re: I am now officially poor.

You poor poor man

Re: I am now officially poor.

Last I heard, you and Warren Buffet pay the same amount of taxes. So that either makes him bad at doing his taxes or you a tax mastermind .. okay, or just poor. But didn't you feel special for a moment?

This year my wife and I got a tax refund for the first time in seven years. It took not working to get it.. go figure.

Re: I am now officially poor.

Congatulations..............I think!

Re: I am now officially poor.

havn't done my taxes yet. but i'll guess that i'll be officially poor too. not a club i particularly want to belong too though. personally, i'd rather have some steady work and pay the taxes. working makes me feel better about myself and my worth to society.

hope everyone in our boat has good fortune next year and have to pay...

Re: I am now officially poor.

i'm officially poor, been that way for 20 years, all depends on where you hide it.

Re: I am now officially poor.

tashasdaddy said:

i'm officially poor, been that way for 20 years, all depends on where you hide it.

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excellent. LOL

Re: I am now officially poor.

I've been paying taxes for over 40 years. Glad I can carry those that don't have anything, but for those that should and manage not to pay

Re: I am now officially poor.

What kinda work are you looking for???? or is this retirement

Re: I am now officially poor.

there are many legal tax free (hiding spots) investments. some of my old ones have a much higher interest rate, than most of the banks now.

Re: I am now officially poor.

My MIL earns about $900 a month. Never pays Fed or state income tax and really doesn't have to file. But I use a free online tax forms to file her taxes.

She gets a rebate on her property taxes every year. There may some other stuff one gets eligible for with lower incomes.

Re: I am now officially poor.

If she is getting by on $900 a month, bless her heart and I'm glad she doesn't owe anything.

Re: I am now officially poor.

JRJ said:

If she is getting by on $900 a month, bless her heart and I'm glad she doesn't owe anything.

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It's a squeeze, but she manages. Doesn't own a car, house is paid off, no charge cards, etc. Her son makes a weeks worth of food and she nukes it as needed.

We paid her property taxes and when the rebate comes in the mail, she signs it over back to us.

She maintains her independence, more or less.

Re: I am now officially poor.

Other than doing boat repair on the side i made 7400 bucks last year...Yep,add me to the poor list...

Re: I am now officially poor.

You guy's are lucky I wish I had enough left to consider myself poor.

Re: I am now officially poor.

slasmith1 said:

You guy's are lucky I wish I had enough left to consider myself poor.

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Pay Attention. Oh wait, you're too poor to pay attention.

I remember one of my "poor" periods, living on $300 a month, raising 7 kids, and with one hand all bandaged up.

One morning we ground some wheat into flour, made whole wheat pancakes with Northern Minnesota wild blueberries in them, and home made butter from our family cow, and doused with real maple syrup. As we ate them we realized that most well off people couldn't afford to eat like that. We had no bills other than minimal utility bills, and had raised a garden, done some hunting and fishing, bought a little grain and staples, and had no problem getting by those lean months on our "savings."

I guess it's all in how you deal with what you got.

John

Re: I am now officially poor.

Gary H NC said:

Other than doing boat repair on the side i made 7400 bucks last year...Yep,add me to the poor list...

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I donno ... pretty nice boat you got ... LOL

Re: I am now officially poor.

j_martin said:

Pay Attention. Oh wait, you're too poor to pay attention.

I remember one of my "poor" periods, living on $300 a month, raising 7 kids, and with one hand all bandaged up.

One morning we ground some wheat into flour, made whole wheat pancakes with Northern Minnesota wild blueberries in them, and home made butter from our family cow, and doused with real maple syrup. As we ate them we realized that most well off people couldn't afford to eat like that. We had no bills other than minimal utility bills, and had raised a garden, done some hunting and fishing, bought a little grain and staples, and had no problem getting by those lean months on our "savings."

I guess it's all in how you deal with what you got.

John

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Man ... that living. I bet you sometimes think back at that particular time with a smile on you face .. LOL