Posted by
flagwaver on Tuesday, December 01, 2009 9:13:18 AM
Just like everyone else in America that wasn't rich growing up, I wanted to grow up and be rich. I wanted one of those houses like you saw on "Lifestyles of the Rich & Famous", the cars, the planes...the whole enchilada. That's what I wanted because that was the American Dream.
Now, I'm not so sure anymore.
This has become a country where being rich has become something to be reviled. We delight in the miseries if the rich, in their misfortunes, and their failings. Take this Tiger Woods situation, for example. Here's a guy that has never been involved in anything worse than getting caught swearing on camera and having his caddy swipe a camera that was clicking while he was trying to tee off. Until now that's been it in the negativity department for Tiger...except for the usual "Righteous Blacks" complaining that he doesn't take enough stands on political issues, i.e., he doesn't toe the Democratic Party line about the terrible treatment that Blacks recieve in America. But after whatever it was that happened on Friday morning, the vultures are out in force ready to pick at his bones. There are rumors, denied by both Tiger and his alleged paramour, of an extramarital affair and there is all of this outrage that he won't talk to the Florida Highway Patrol...even though he has no obligation to do so. I even saw the Fox News bunch wasting time covering it, with Sean "You're a Great American" Hannity acting as if it has something to do with "personal responsibility." But I have to agree with Bernie Goldberg that this is a whole lot of attention to be giving to a single car accident where there was no serious injury, no serious damage to state property, and no alcohol or drugs involved. But Tiger is rich and famous, so this is "news." But that's a peril of being rich (and famous); people want to see you fall so they can exult in your problems. And I don't think I want that.
Another thing that makes me think that being rich isn't such a good idea is that the government will use all its powers to make you less rich. And you don't even have to be Tiger Woods or Oprah Winfrey rich to have the man trying to get into your wallet; hell, under the Obama administration it is taking less and less to be declared "rich", so that the government can take you for more and more of your hard earned cash.
I know you have all heard the numbers, but they deserve to be repeated:
- the top 0.1% of earners pay 17% of all federal income taxes
- the top 1% of earners pay 37% of all federal income taxes
- the top 5% of earners pay 57% of all federal income taxes...and that starts with a floor of just $137,000 adjusted gross income
Man, if those numbers aren't as scary as sighting of Oprah without makeup, I don't know what could be (maybe a sighting of James Brown Michelle Obama sans makeup). And that doesn't even count the state and local slaes taxes, property taxes, and income taxes that are used to prop up state budgets. Plus, the feds don't stop even after you have breathed your last on this earth, because after taxing the green off a dollar your whole life they tax whatever you leave behind to your family! And in some cases, most if you're "rich", the top federal estate tax rate is 45% of what you leave behind...and then the states swoop in to take their cut as well. So after years of being left with no more than 69% of what you make (before state/local taxes), the fed leaves your family no more than 55% of what you bequeathed to them (before the state comes in). It's a damned shame when you can't escape the tax man even after you die! I mean, even the Russian Mafia doesn't rob dead people! And now members of the Congress are thinking about levying an additional tax to fund the war in Afghanistan...as if the taxpayers aren't already paying for it!
So before we think about getting rich, we had better look at it from all sides. Maybe the bad outweighs the good and it's better to be just a regular, middle class shmoe.
Nah, I still wanna be rich...just not "regular rich" but Tiger Woods rich. Then being robbed by the government wouldn't be so bad!