"The wealthy need to pay their share of taxes"...huh?

[kannibul]

Originally Posted by FLSTFI Dave

Lets say I earn 100K a year, and Joe earns 25K a year. We are both married with 2 kids.
I am taxed at 29%, Joe is not taxed....that is our current tax code.

So Joe still has 25K, but I now only have 71K.

How is that fair?

Joe works 40 hours a week, I work 70 hours a week still fair.

That 71K goes a lot farther than 25K towards raising a family and existing.

[kannibul]

What I also find funny about this whole thread is that I would wager...

That the majority of those arguing that the tax system is unfair today, or that taxing people who have more money, aren't anywhere near the same tax bracket as those would be impacted "negatively"

[kannibul]

Originally Posted by FLSTFI Dave

That is far from fair. Especially if say the first couple is a school teacher who is the bread winner, gets 3 months a year off

The Second couple , the husband works 65 to 70 hours a week 49 weeks a year.

OK, two major issues with your post...

1) Teacher Salaries are rediculously low. 3months off a year is hardly compensation, all things considered. Remember, these are the people who are supposed to be prepping our children! You wonder why your kids are dumb - look at the teacher's salaries, and thing..would I give a **** if Johnny is a failure in life, when I make less than $35K/yr, and have to pay back my student loans?

2) You assume that someone making more money, automatically is working more hours/time. BS! How many corporate execs work 20hrs a week, and get paid 100K+/yr, and get "comps" and golden-parachute retirements...

Speaking of golden parachutes - how about those people in political office,their retirement? I'll say this...SS retirement won't be fixed until they are required to take it, and nothing else...

[jkswiss]

I wasn't aware that this forum was populated by the top 10% of earners in our country.

[kannibul]

Originally Posted by jkswiss

I wasn't aware that this forum was populated by the top 10% of earners in our country.

Exactly, most of the people on here, I would again would wager, would see a reduction in their taxable income, should taxes be adjusted more towards those who have more, pay more...

[east_stingray]

Originally Posted by kannibul

Exactly, most of the people on here, I would again would wager, would see a reduction in their taxable income, should taxes be adjusted more towards those who have more, pay more...

Being a moral person means not stealing from others, even if it would benefit you. I'm glad to see we have people on the board who live by what they think is right rather than by what would put more money in their outstretched hand.

[Brickboy240]

Your kids are dumb because there is no competition in the public school arena. Teachers are forced by administrators that have never worked in an environment where they had to be competitive, to teach to the lowest denominator in the class - often an underpriviledged kid that can barely speak English. The public schools are a monopoly and unless you're wealthy, your kids are stuck there and they know it.

Simply increasing a teacher's pay will NOT guarantee smarter kids. Neither will dumping more money into the public school system. Washington DC's public school system spends the most per student of any public school system in the nation and ranks near the bottom as far as test scores and graduation rates. More pay for teachers equals smarter kids? This has never been proven to be true.

Another misnomer: some high wage earners work 20 hours a week. Nobody I know with a salary in the six figure range works less than 40 hours a week. Nobody. Many (like me) are rarely home before 7pm. Some work at home in evenings and I get all sort of biz related phonecalls at odd hours. Many that I know, cannot take a vacation that is more than 4 days gone fom the office at a time because they're integral to their company's functions. I also know many that travel extensively and work on weekends.

In my family and with some friends I have, the ones that hold mid range salary big corporate type jobs leave right at 5pm and never work on a weekend or take a call after hours. I have a cousin that works for Hewlitt Packard and that is his schedule. Ditto for a brother in law that is in the Exxon corporate office. My neighbor' wife is a high school teacher and her car is in the driveway at 5pm or earlier.

The big myth is that many with higher incomes have easy work schedules. That may be true for some, but in my business and in my family...that is not true at all.

Did you know that most of the people that have a net worth of a million dollars or more are first gerneration wealthy? Most made it themselves by hard work. The popular view of the Kenedy clan on their yachts or golf course just does not fit. Read the book, "The Millionaire Next Door" and it will dispell many myths most have about who makes the money in this country.

The mistruths and misconceptions about who makes what and how they live is obviously huge. Many in this old world are where they are not because they stole it from someone else, but merely because they were willing to work harder and longer than others. this bothers some to a great extent...but its true.

- Brickboy240

[Frenchy]

I don't want a system that redistributes wealth, rather a system that treat all wage earners equal. I don't believe any of us will argue that.

[east_stingray]

Originally Posted by Frenchy

I don't want a system that redistributes wealth, rather a system that treat all wage earners equal. I don't believe any of us will argue that.

I think you're right. What we're arguing about is the definition of "equal".

Some here think that "equal" means everyone should pay an equal amount.

Some think that "equal" means everyone should pay an equal percentage.

Still others think that "equal" means everyone should be left with an equal amount of money in the bank once the tax man is done.

[Frenchy]

Well...I'm in favor of a flat or fair tax, so that would be percentage.