I have just paid my biggest bill of the year. The invoice was for a cool 9% of my entire annual income – or my “Adjusted Gross Income” (AGI) as it appears on my tax returns, which have just been filed. And that invoice was from my accountant who just filed them for me.
I have a pretty modest income – so modest, in fact, that my AGI is of the order of a half of the median household income across the United States – the kind of income that triggers significant subsidies under the Affordable Care Act. Even the “top line” of my income falls short of that median: so it’s not as if I’m earning loads and deducting huge amounts.