Not Joe the Plumber, but SAHM

iVillage Member
Registered: 10-16-2008
Not Joe the Plumber, but SAHM
246
Thu, 10-16-2008 - 10:49am

My Open Letter:

Dear Senator Obama,

I am a stay-at-home mom living in the over $250k tax bracket. I want to ask you why you feel my family is not doing it's part to share the wealth in this country. Our family does well but we also pay taxes at the highest marginal rate. We do not have millions or the kind of lifestyle that would get us access to tax loopholes. We only get deductions for home mortgage interests, state taxes paid and charitable contributions. Last year those three deductions were capped because the government limits the deductions at our income level. In the past we have been stuck in AMT which ensures we do not underpay our fair share of taxes.

Because of our family's income level, our children will not qualify for student loans or other aid. Therefore we must save entirely for their college. We save as much as we can. In recent weeks lost 30% of those savings as well as a decent amount of our retirement savings and the few mutual fund investments we have are under water. The only other asset we have is our family home. We only have one. It would be really tough to sell it in this market, we've lost a large chunk of our equity.

We have never received a stimulus check, yet we do our part to donate to charities we believe in, invest in the market and spend to keep the economy going. And we pay our taxes. There is no question that the opportunities in this great country have allowed us to achieve the American Dream. For that I am grateful.

Your proposals will take an additional 12% out of our annual family budget by increasing the marginal tax rate and increasing payroll taxes. We aren't struggling yet but we will be if your tax proposals pass. We will have to stop or severely limit college savings, with one child only 3.5 years from college and the savings down 30%. Last year we paid enough in Federal Taxes to supply 240 individuals with a Bush stimulus check, similar to the stimulus plan you propose if you are elected (I guess that continuation of the same Bush economic polices is good). I have no doubt that some of what we paid went to wasteful government projects and earmark spending that did not help any struggling families. You say $18 billion in earmarks is not a lot of money to you but 12% of my family budget is a lot to me and my children. I do not begrudge what we already give the government, but I will argue that we are doing our share. I argue we are patriotic and we are neighborly.

We are upper middle class, we are not like your friends, Oprah and Warren Buffet. Our priorities are saving for our retirement, our kids college and paying off our house. We can comfortably do those three things now, though we are worried about the economy like everyone else.

I am a registered Democrat and have always believed in social programs for those who need them. I still believe in them. But I do not understand why when you speak that it sounds as though my family is getting something over on this country. That we aren't doing our part. That we don't pay enough tax. That we don't do enough to lift others up. I say we are doing a lot by not asking anything from the government. I say it is the government that is letting the American people down, not us.

If this economy gets worse my husbands job will be at risk. We could lose our home along with the remainder of our savings. The only good news I see coming from the Democrats is that maybe then we can have the government contribute to our children's college education, we'll get a tax cut and might finally see one of those stimulus checks. Then you'd finally get your chance to lift my family up.

Pennsylvania Mom
http://openlettertobarack.blogspot.com/

Pennsylvania Mom http://openlettertobarack.blogspot.com/

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iVillage Member
Registered: 10-16-2008
Sun, 10-19-2008 - 5:02pm

>>>>If someone is not working then the should qualify for Medicaid along with their children.<<<<

If all non-working people qualified for Medicaid we wouldn't have so many uninsured people now would we?

His plan allows people to BUY insurance. There is no guarantee under his plan that everyone who is uninsured now can afford it. And he said in the last debate he would exempt small business from having to provide it, he'd give them a credit if they do, but they won't have to.

I haven't seen anywhere that he tells us the cost to buy insurance through his National Exchange, have you?

Pennsylvania Mom http://openlettertobarack.blogspot.com/
iVillage Member
Registered: 10-18-2008
Sun, 10-19-2008 - 5:25pm
I haven't either and never will...even if my financial outlook totally changed and
iVillage Member
Registered: 02-06-2003
Sun, 10-19-2008 - 5:25pm

If someone is not working then the should qualify for Medicaid along with their children.


Not necessarily.

iVillage Member
Registered: 03-19-2003
Sun, 10-19-2008 - 6:16pm
I just spent $13.99 at Wal Mart for one!
iVillage Member
Registered: 03-09-2007
Sun, 10-19-2008 - 6:24pm

No I have not seen how much it is going to cost but I am sure the amount will be supplied once he enters office.


I also see Sen Obama giving those who are uninsured a much better chance at achieving healthcare than Sen McCain's plan.

Jess


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iVillage Member
Registered: 03-09-2007
Sun, 10-19-2008 - 6:27pm

Generally if some one is let go from their job due to a reduction in force or a closing of business, they can purchase COBRA insurance or COBRA will be offered at the cost of the employer for a certain period of time.


That is the beauty of Sen Obama's plan, it opens up doors to those who can not get insurance. It makes insurance affordable.

Jess


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iVillage Member
Registered: 04-25-2004
Sun, 10-19-2008 - 6:31pm

I've read all of the posts here on this topic and I have to say that although I respect your right to your opinion, you don't realize how very fortunate you are to make over $250k a year.

Wendy
iVillage Member
Registered: 03-09-2007
Sun, 10-19-2008 - 6:41pm

A side by side comparison to Sen McCain and Sen Obama's healthcare plans.


Jess


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iVillage Member
Registered: 07-11-2006
Sun, 10-19-2008 - 7:06pm

>>it seems there is a huge portion of the populations who feels no shame at all for asking for every dime they can get off the system...and it makes me literally sick.<<

Be the change you want to be.

Instead of whining about other people's behavior, take responsibility for your own. It may seem to you that a "huge portion" of people feels that way - but is it true? Do a lot of people feel that way or are you just blaming them for your own beliefs and responses (ie feeling sick)?

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iVillage Member
Registered: 07-11-2006
Sun, 10-19-2008 - 7:17pm

Forgive me if this is obvious, but if you have a household bringing in 250,000, how can it be difficult to pay for a college tuition, why would you need loans or other assistance? Isn't it possible to either reasonably tighten your budget and still live comfortably? What am I not getting?

Respectfully,
Nisu

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