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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Riu Ocho Rios: Jamaica All Inclusive
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Thank you Spencer, Lindsay, and Pamela for my awesome siggys
>>if forced to pay someone who had done nothing to deserve it, I would consider that wealth distribution.<<
While that is what the term "wealth distribution" implies, as I understand it, it is not what is MEANS.
No one, no one at all, is in favor of taking one person's money and giving it to someone who has done nothing to deserve it.
Riu Ocho Rios: Jamaica All Inclusive
While that is what the term "wealth distribution" implies, as I understand it, it is not what is MEANS
Hmm,
Let us not forget that if we do not continue to spend on social programs via taxable income and increased taxes, many
>>>I guess I've just been lucky to not run into that situation.<<<<
No, the argument goes if you are in that position you should be thankful you have the wealth to arbitrarily distribute. Are you middle class? Maybe you can be one of the 33 people I send $500 to when Obama gets elected.
http://openlettertobarack.blogspot.com/
Yes I'm middle class, but I don't want the $500 from you, thanks though.
Well if your family makes $100k would you be in favor of sending forty $100 checks out to families only making $25k per year? They need it more than you don't they? That would be the same as what I'm being asked to do. Help out those who have less by sending my money to them. After all, your family makes 6 figures and you can afford it too, right?
McCain said he would keep certain vital programs. If he froze all programs then a lot of people would become unemployed, I see the concern there. Are you sure your program would end under McCain? What have you read/heard that supports it would? I honestly don't think McCain would be able to get that one through a Democratic Congress. I can't imagine putting an end to Medicaid, which run at the state level I believe. I admit I do not know a lot of about it, but I'm all ears if you want to explain more.
http://openlettertobarack.blogspot.com/
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