Side Income

By | April 27, 2005

I already have a full-time job but a little side income wouldn’t hurt. Better yet, if I can have something working for me 24/7, that would be one step ahead in the rat race. One step at a time, I hope I eventually can create enough side income coming towards my pocket I wouldn’t need to rush to work in the morning. Work can be very dreadful sometimes.

It’s intersting to note how the government taxes “hard” labor more than investments. Let me explaing. By “hard” labor I mean physical work you do. If you have a job, your wages are subject to regular income tax of up to 35% or more. However, capital gains held over a certain period of time are only taxed at 15% or less. There seems to be a big flaw here. Wage earners are usually low and middle income people who work hard to earn living yet they get heavily tax. Meanwhile, the wealthy usually have most of their money in stocks, mutual funds, real estatest, etc. and those passive/portfolio earnings get tax breaks. Looks like the poor gets poorer and rich gets richer. Therefore, by looking just at structure of the tax system, you can see the weight is really on the working class. I can’t make get ahead by working alone. I must also have money working for me or have my own business.

My dream is to have money pouring into my pockets even if I just sit at home and watch TV. I have a lot of ideas in mind and I’m thinking of putting one or two of them in action. Check out one of my ideas on Money-Making Idea #3 post.

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