Jennifer Lane posted on twitter a link to why people fail to get rich. Included in this article are the usual suspects:
- They fail to plan
- High-income paupers flaunt their earnings
- Young professions are at most risk
- Expensive lifestyles quickly outstrip income
Unfortunately, there is no mention of one of the highest expenses for most people, taxes. When including sales tax, state and federal income tax, social security tax, gasoline tax, and the myriad of other costly taxes, many people are losing over 50% of their income that could go toward savings. With the tax burden expanding around the country it is little wonder that two incomes are necessary for most families.
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