by Paul W. Hamilton
Going to law school was my path to financial security--I didn't become an attorney to become wealthy but I knew doing so would provide me and my family a comfortable life. In total, I've spent over twenty-one years in school learning. I served in the Georgia National Guard and Active Duty Army to help pay for college. When I made the decision to go to law school, government and private loans were the only financing options available and I availed myself of them and continue to pay them today.
Don't get me wrong, I've been blessed. Three and half-years after opening a law firm in my hometown, we are still going strong and growing every day, even in during tough economic times. Senator Obama's plan to raise taxes on those making over $250,000 is nonsensical. I'm not yet in that group--but I will be someday. Why is it that those at the top of the income stream should have to pay more than those at the middle or lower income stream? The message this sends is to work hard, educate yourself in the classroom and in the real world, have the intestinal fortitude to jump off the proverbial cliff of starting a small business that may or may not survive, be innovative and industrious, create jobs in your community....and after doing all that, PAY MORE. In short, his plan to increase taxes punishes success.
And Senator Obama's response is, "You can afford to pay more." Remarkably, Obama's running mate, Senator Joe Biden recently said it was, "patriotic" to pay more taxes.
What we need in our tax code is fairness. A system that is straight forward and easy to manage. The administrative burden of complying with our current tax code costs more than $200 billion for individuals, small businesses and corporations each year. We should implement a flat, across the board tax for all wage earners. Better yet, implement the fair tax as proposed by Georgia Congressman John Linder which proposes replacing the federal income tax with a national retail sales tax on goods and provides for a rebate for the cost of necessities such as groceries and medical expenses up to the poverty level. Such a system would capture the lost taxes on illegal activity, such as the drug trade, and under the table wages to illegal immigrants throughout this country.
Obama claims to be the candidate of change but his policy is the same old thing--this country deserves a tax policy better than what this candidate offers.
7 comments:
Vote McCain/Palin!
Warren Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. For some reason that doesn't make sense to me.
Roman,
i appreciate your comment---no, i don't think wealthy should have to pay less either---that's why i think the flat consumption tax is a winner---it treats everyone equally--unless of course Congress loads it up with tons of exceptions and loopholes--
Brother Paul, please refraim from confusing the 'flat' tax with the 'fair' tax. The older flat tax is based on income, reduces inovation, growth and success while allowing the continuation of the IRS. The 'fair' tax is the consumption tax that creates an economic environment for growth, welcomes home our off-shore industry and best of all elimantes the voluminous IRS regulations that even Charlie Rangel (the Chair of the Committee responsible for the IRS) does not understand. If the 'all-knowing' Charlie cannot understand it, how in the world can someone like me?
Czerokee---good point, flat and fair do have different meanings--sorry for the confusion--didn't Charlie lose his committee chair position?
The problem with flat taxes is it places an unfair burden on poor people. We require services of our government: schools, roads and bridges, military, protected parks that must be maintained, regulatory agencies that protect workers, like OSHA, as well as intelligence services -- CIA.
In order to replace our current revenues under the system we use, the best estimates (by right-wing conservatives) are that it would take at least 23% (some say over 34%) on every earning American -- for someone making 50K a yeah, that would be a remarkable tax increase.
The reason people making more should pay more is actually pretty simple to understand for thinking people: they benefit most from the system as it is designed, and have the most interest in maintaining it -- as well as being able to more easily afford it.
I do believe everyone should pay some taxes -- we should feel invested in the system and educate ourselves in the best ways to make it better and maintain it.
A consumption tax punishes poor people as well -- it is really no different than a flat tax where the poor and lower middles class are concerned -- they have no savings, spend all they make, and therefore, everything they have is over taxed in such a system.
While I know facts are uncomfortable things for conservatives (grin,) a recent bipartisan study showed pretty conclusively that a "fair tax" would require 34 % and that if poor people were exempted (those below the poverty line):
"Of course, if the poorest Americans are paying less under the FairTax plan, then someone else pays more. As it turns out, according to the Treasury Department, 'someone else' is everybody earning between $15,000 and $200,000 per year." Source:
http://www.factcheck.org/taxes/unspinning_the_fairtax.html
Why should the middle class be forced to maintain a system that primarily benefits the wealthy?
My father is a tax protester. Of course I adore my father, but because of his beliefs, he has not paid income taxes since 1969, I have had to really evaluate how I think about this issue, and I disagree with my father very much.
Our country requires something of us in order to live in the extraordinary culture we have, and I do consider it "patriotic" to do my fair share.
I am all for wealthy people being wealthy and harbor them no ill-will, but I do wish they would be more grateful and help us maintain the extraordinary culture God has blessed us with.
Hugs, Nick
Thought you might find this a little informative:
http://www.huffingtonpost.com/john-seery/joe-the-plumber-meets-sam_b_135399.html
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