I decided to “go Galt” in February of 2009. (1, 2) As a small business owner, I was tired of living under an unfavorable tax situation, and heartily tired of the paperwork required by the government to maintain the business. I was frustrated by the statistic that only 40% of Americans are filling the federal coffers while the other 60% make withdrawals. I decided I didn’t want to be a forty percenter, and that I would prefer to “hasten the inevitable economic crash” rather than stay on the hamster wheel while the government takes more and more of our money to punish companies for creating jobs and to pay other people to not work.
No job is perfect, but in spite of my dislike for some aspects of owning a small business, I would not have dreamed of giving it up if it weren’t for the annual tax hit we took. My goal was to reduce our household income to get us right to the line where we’re not taking money out of the system nor living above the 40% line where our income is redistributed to others.
So how’s that working out for me? We’ve had some major changes in our household in the last six months – my mother has moved in with us, since she is now disabled. We’re adding a mother-in-law suite to the house. With the increased expenses, rather than restart my old business and work at a higher tax rate, I’ve actually taken a part-time job working for someone else. It’s not exactly a roadside diner, but I’m working far below my capacity – both in ability and earnings – and I’m looking forward to a refund of most of what we’ll pay in taxes next year.
The fact that I’m working for Obama’s nemesis, Rupert Murdoch – mind you, at the very bottom of the food chain at one of his many companies – just makes it sweeter.