Tuesday, September 8, 2009

Taxing Effect

Start with a dollar, double it every day ($1, $2, $4, $8. . .) and you'll be a millionaire sometime after lunch 20 days later.

Do the same thing, but this time pay a daily 35% income tax and in 20 days you will have a whopping $22,371. That's no typo--$22,371 versus $1,048,576.

What lessons should we learn from that?

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