@AAQ
You far over estimate both what I take in personal income and the taxes I pay. The tax laws benefit those with substantial assets allowing minimization of income taxes. Due to exoduses of wholly owned businesses in our personal returns, our effective Federal Income Tax rate has never exceeded 7% in the past 30 years. Mrs. CTL hadn’t been in the Social Security system for a decade before her death. I draw a moderate salary, preferring to leave retained earning in the firm. I don’t need the cash.
When reveal real estate we own has been fully depreciated (giving us offsets gif income), instead of selling and paying taxes in a gain from the new reduced cost basis of zero, we engage I. Like kind exchanges and get to start depreciating all over in the same money investment but from a much higher new market value.
Property in Mrs. CTL’s personal name passed to me under the terms of her will, tax free, and I get to start the depreciation all over, we made sure to keep her personal estate below the point where estate taxes would be due. But, I am an estate and trusts attorney and tax specialist and know how to make the system work.
I have never lobbied or contributed to legislators to make the laws to my advantage, but use the regulations to my advantage.
The 3 million in medical bills would have been beyond my cash holdings, that is why I believe in insurance. My old posts will show I was( still am) a supporter of ACA. Saved me loads in premiums and met our needs nicely.
Youngest daughter turns 26 this month and must go off parental insurance. The company policy is not as good or inexpensive as that available through the CT healthcare exchange, so she will buy via ACA.
I support a single payer national insurance plan. I also support allowing insurers to sell across state lines to lower costs. My carrier now has a network in NY, FL and IL so if I should choose to spend time I. The family home in Brooklyn or the place in Boynton Beach I don’t have to worry about out of network uncovered expenses