On most social issues I fall squarely on the Left, but doing my tax return this year made me see that maybe on finance the Right has a good point.
I finally got all my 1099s from Amazon, B&N, and Smashwords (at least I think so) so I could do my 2014 tax return. When I added it all up I made almost $4,000 last year. Hooray! But as I entered the numbers into my tax program my projected return kept dropping and dropping until I was in the red. Meaning I owe the Federal government money for the first time ever.
Doing the math, essentially they want 25% of my book earnings. A quarter of every dollar! That's just crazy to me, especially for someone in my situation. They might as well be stealing candy from a baby.
And so that's the price of even a moderately success year of business. It'll probably only be worse this year. Makes me wish I were a smarter accountant so I could find a way to get around all that. Maybe set myself up one of those Cayman Islands offshore accounts like the big boys.
Anyway, a flat tax is starting to sound like a good idea now.