Sue.Grinius.Hillover 1 year ago
You are correct. I happen to be one of those people who our president has decided is 'rich'. We don't think of ourselves that way - we started out like any other starving students/newlyweds long ago with borrowed everything, and slowly worked our way over 26 years to being comfortable with two white collar incomes. This didn't come from some silver spoon. It came from 70 and 80 hour work weeks for years, and tradeoffs in life that we forewent for a future nestegg. We now support our extended family members (elders), ourselves, our adult children, and continue trying to sock away earnings to protect ourselves from the inevitable failure of social security someday, just when we need it. We give in our family, a significant portion or our free cash goes to charity. We enjoy giving. However, it has occurred to me that we will be hit with this tax increase and our free cash will be less. We will still give on a percentage basis because it's part of our life. But we won't enjoy giving to as many services, or as much as we have in the past. I've already de-prioritized some giving and just told a telemarketer the other day that due to uncertainty in our economy once the election results came in, I wouldn't be able to commit to help with her cause and pledge future amounts. I am now giving a one time smaller amount, and letting God multiply it as He will. I am concerned that the decrease in income we will feel as a result of higher taxes will result in less giving. We all do have to tighten our belts across the country and get ourselves out of deep deep debt for our future generation's sake, but it will not be without pain for all of us now.