Posted: 1/10/2013 11:59:20 PM
Originally Posted by sparty444
"You honestly believe your government would do away with other taxes, or reduce them, for the sake of a federal sales tax?"
Of course they won't... why would the wealthy give up one of their biggest advantages? Wealthy people can pay accountants and lawyers $1000 an hour to find loopholes in the system. And those loopholes exist because the people in Washington plan on exploiting it too. Even Warren Buffet mentioned he pays less in taxes than many who work for him. And we all saw what rate Romney paid last year...lower than alot of middle class families.
Rich versus poor debate exists because the issue itself exists. Wealth is like a country club... they like to pick and choose the members and make rules to totally restrict membership. Lets look at some of the obstacles a poor or middle class kid will face in their pursuit of wealth:
Quality of education: Poor and middle class children most likely have to attend public schools...often in places that don't have the greatest teachers in the world. Wealthy children have choices on what school or being home schooled.
College: The impact above then impacts what college a student can attend. Also coming from wealth has its advantages here. Higher education is becoming more expensive and money can get you into your college for the right price and you don't have to worry about student debt.
Post college: Depending on your degree you will then enter the professional work force. Now days unless you goto a top of the line university or graduate towards the top of your class good luck getting one of the premiere jobs. Also for those poor and middle class kids you begin to feel the pressure of repaying debt. Most get married at this point of life too. Meaning added pressure to find house and to save money for children.
Mid-life: Most people are married at this time and have children. This is the time where poor and middle class people have to pay higher mortgage rates- car insurance rates and might have to worry about credit card interest rates. Rich people do not.
The United States is one of the hardest countries to break out of the economic setting you are born into. The rules are set to keep people right where they are. Yes some do manage to defy the odds with hard work and a little luck. But the vast majority are behind the 8 ball to start.
I can tell from your writing style you are intelligent. Very well organized thoughts, they are just factually incorrect/very biased.
I will go in order of sentences I bolded.
1) I am not his accountant, so I can only go with information I can find online, but accordingly to sites I've seen, Warren Buffett paid $6.9 million in income taxes in 2011. If he has other individuals working for him that paid more in taxes than he did, I would love that job. I believe the point you were trying to make was his effective tax rate may have been lower than individuals working for him. Don't feel bad, for whatever reason, alot of people in this country can't wrap their head around this concept. How much did you pay in taxes last year? I can tell you, I lead a very comfortable lifestyle, and Buffett still paid over 200 times the amount of income taxes I paid. Your average American, he probably paid well over 1,000 times the tax. Can you make the argument he receives a benefit close to 1,000 times the average American? This argument is complete uninformed rhetoric.
2) Who is "they?" And how do you define "wealth?" I can tell you that in my career, I have worked with many individuals who came from working class families where neither parent went to college, and have become extremely successful, the type of career path I would kill for. I'm talking executives with Fortune 500 companies, pulling down a couple of million a year including options. To me, that is pretty wealthy. No one "restricted membership" for them. They were intelligent, hard working, charismatic individuals, and they became successful.
3) Nothing in this paragraph makes any sense. Anyone can be homeschooled, regardless of wealth. I'm also not sure I've ever heard of a correlation between wealthy people/home schooling/and increased success. I've always equated home schooling with more of a belief system, if there is some correlation between that and wealthy individuals, it is not one I've been aware of. In terms of "public schools" plenty of very successful individuals come from public schools. Im my area, alot of individuals send their kids to Catholic schools, but public schools actually have as good of, if not a better reputation.
4) Outside of going to medical school/law school, the prestige of your college is significantly overrated. I went to a pretty good school (you can figure it out from my screename), I have the same exact career path as individuals who went to schools which cost 1/3 the amount of mine. Temple, Penn State, Widener, etc. are local schools that produced a large number of my peers (along with more expensive schools like Villanova and St. Joe's). But the point is, we all start in the same place, and it takes inner-personal skills and intelligence to advance, and that is not something that a Wake Forest (or even Harvard/Yale, etc) education gives you more of an advantage.
5) This is not true as evidenced above. If your definition of "premier job" is solely inclusive of lawyer/doctor, maybe there'd be some volitity to your point (I'm not as familiar with those industries, so I cannot 100% refute). In regards to the business world, this could not be farther from the truth.
6) Now we are moving away from "wealthy" and trying to make a statement about hard working students who graduate towards the top of their class?
7) I'm not sure I understand the correlation between socio-economic status and mortgage rates? Live within your means, and you can easily maintain a high credit score and get low rates. If you are riddled with debt and are a credit risk, maybe it is not the right time to buy a house. Homeownership is a privilege, not a right