What’s Left Of A Million
I daresay a million, dollars to me,
Is not the amount up front, that you see;
The tax rate on that in our Promised Land
Is 39.6 percent, for Ol’ Uncle Sam.
So once you’ve been raped by the IRS,
You’re left with $631-Grand, at best.
Then there’s my daughter’s looming college costs
Of another $180,000, lost.
Now there’s only $450-Grand left—
Spend it quick, or they’ll tax you again
If it carries over to the next calendar year;
You’ll get nailed on interest-income, my dear.
Let’s say I pay off my house with some of that;
I’ve now just slashed the $450-Grand, in half,
For a remaining total of 225,
Thousand dollars on which to thrive.
If I put it in my tax-deferred pension,
I can’t touch it ‘til I retire, I must mention,
So the best thing to do with what’s left, I know,
Is to down-pay the cost of my daughter’s home
Which she’ll need after college, a place to live—
I’d give her a better start than my own parents did
For me, when they bailed on me financially,
And my everything was paid for entirely by me.
So now it’s all gone and accounted for,
The million, is spent and it is no more.
I might as well keep working for the rest of my days,
For there’s always something else you need money to pay.