Reovery in Aviation Activity

[DaleB]

Actually can't remember if I truly paid 49% that year...remember qualifying for the bracket, but they still allowed income averaging and the five year window included two years of Lieutenant's pay.

Income averaging was the best thing ever for recently separated military folks. I got out in '84 and more than doubled my salary... not hard to do, really... and income averaging saved us a whole lot of money in taxes over the next few years.

[1600vw]

30 years ago, I ended up in the 49% tax bracket due to some (fortunate) circumstances. At the time I retired, I was making about 3X what I did that happy year...and my tax bite was significantly less than that.

As a 2nd Lieutenant in the late 70s, my annual pay was X percent of a new 172. After 40 years in Aerospace, as a very senior engineer, I was STILL making that same X percent of a new 172.

Ron Wanttaja

I dont knoe if taxation is really part of this topic, but just out of curiosity I looked up the facts. I dont know Canadian rates, but 30 years ago in the U S taxes were virtually the same as now, Max fed income tax in 1987 was 38.5%m dont know how Ron got 49% unless he is adding on sales or local taxes. Max U S federal rate is now 39,5%.

Mine was in 1984, max federal rate was 50%.

http://federal-tax-rates.insidegov.com/l/69/1984
https://www.scribd.com/doc/190499803...tory-1862-2013


I wrote a computer game, and my royalties that year were almost twice what my Boeing salary was. You can see the whole sordid story of my windfall at:

http://www.wanttaja.com/ifr.html

Actually can't remember if I truly paid 49% that year...remember qualifying for the bracket, but they still allowed income averaging and the five year window included two years of Lieutenant's pay.

Ron Wanttaja

In the FSim Cub, it's also in mph. But if you turn on the red "HUD" (text in upper left corner), it shows knots.

Income averaging was the best thing ever for recently separated military folks. I got out in '84 and more than doubled my salary... not hard to do, really... and income averaging saved us a whole lot of money in taxes over the next few years.

Please explain to me how this has a hill of beans to do with the recovery of aviation and aviation activity?

[rwanttaja]

Please explain to me how this has a hill of beans to do with the recovery of aviation and aviation activity?

1. Argument made that aviation simulation helps interest the younger persons in aviation, and thus may lead to more participation.
2. Argument made that current levels of taxation inhibit recovery by reducing the available disposable income for those who wish to fly.

Other than that, thread drift happens.

Ron "Oooo, a squirrel" Wanttaja