Not Joe the Plumber, but SAHM
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| 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/

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Pennsylvania Mom
http://openlettertobarack.blogspot.com/
I think the shared tips analogy makes more sense when you bring up the bus boy, the dish washer, the hostess, etc.
When two people have similar responsibilities (two servers) and one consistently makes more in tips, it would seem they do that "little extra" and customers reward it. Makes no sense to share that tips - is that even done (except at functions)?
When the servers works super hard and super fast, s/he depends on the bus boy and the dishwasher and the salad maker etc to keep up the pace. Often times (at least in the dinosaur age when I waitressed) the supportive staff did not make more money, but they did have more stress. For that reason it makes sense to "redistribute the wealth", so that everyone gets extra for there hard work. If only the server gets the tip, one could make an argument that s/he is not being "personally responsible" and is "climbing to the top on the backs of others", so to speak.
Pennsylvania Mom
http://openlettertobarack.blogspot.com/
Unless my math is way off (which is entirely possible) for the change in taxation to affect her to the amount she has stated ($1350 a month) her family has an income at least $100,000 more than that $250K amount.
Pennsylvania Mom
http://openlettertobarack.blogspot.com/
For that reason it makes sense to "redistribute the wealth", so that everyone gets extra for there hard work.
I disagree with calling it redistribution of wealth.
I could agree that when the customer tips the server, it's a gift, at least kind of.
I don't particularly care for the term "wealth redistribution". But if the server is required to share that income/tip with others how is it different than the concept of wealth distribution?
I don't particularly care for the term "wealth redistribution". But if the server is required to share that income/tip with others how is it different than the concept of wealth distribution?
My employer was required to pay me as well, I don't see paying someone for their hard work as wealth redistribution.
>>>>you don't realize how very fortunate you are to make over $250k a year. <<<<
*I* don't and couldn't possibly earn that with my education and training. My husband does.
>>>>Well, you know what? My DH and I both work full time and make a combined $68k per year, raising 3 kids. We work VERY HARD!<<<<
As a single mom I went 2 years without cable tv because I couldn't afford it. Every 6 months I tried to find cheaper car insurance. I was solidly middle class but certainly worked for every dollar and did not have much discretionary spending. And you know what, I felt very fortunate to have all that I had. I am not sure when or why this "we don't have enough" attitude started for the middle class. I never felt it when I was there. Oh, btw I'm middle class now. Upper middle but still middle. The wealthy that Obama refers to puts upper middle working people right in the same group the independently wealthy or Hollywood elite.
>>> But unfortunately, you see all too often those making the big money are also incredibly greedy and frivolous with their money. (They've GOT to have the million dollar homes, and the Lexus and Mercedes in the driveway, and would just not be able to live without their 3 times a year vacations to exotic locations... And heaven help them if they couldn't buy a completely new designer wardrobe EVERY season! You get my drift...) <<<<
I don't think this sounds like upper middle, this sounds like upper class. They represent less than 1% of Americans, so I'm not sure how you see it "all too often." We don't have a million dollar home, or a luxury vehicle (unless you think mid-range Toyota's are luxury cars), I've never been on vacation to an exotic location though we do make two trips per year to see family. The bra I am wearing right now I bought 5 years ago and I'm starting to think it's time for a new one. So while I may get your drift I think the picture you have in your mind is the one Obama wants you to have so you'll vote for him, and might be less tied to reality than you think.
Now if Obama wants to raise taxes on those earning over a million a year, or who drive luxury vehicles and take 3 trips per year to exotic locations, I might not have a big problem with that. If he wanted to use the money to help balance the budget I'd like it even better, rather than spending all those tax dollars to collect it and funnel it around.
What % of tax do you think people should pay? Should so many pay no tax? If you made $250k, what % would you expect to be charged in tax?
http://openlettertobarack.blogspot.com/
I'm guessing her point is that the busboy (for example) isn't employed by the waitperson, ditto the cook's helpers.
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