A common disdain exists for people who make a lot of money. From those who blatantly state that “rich people” should pay more to the less vocal who believe that one person or family does not need “that” much. As such, when we know that statistically the top 10% of the money earners in the U.S. pay 70% of the taxes, most folks respond, “Good, that is the way it should be.”
Basically, whether verbalized or held only as an internal belief, a large percentage of the US population has the attitude – from those who make much, much should be taken and given to those with the least. Hence, we have the graduated tax system, socialized medicine, collective bargaining agreements, special interest groups, and yet one more cry for “my rights.”
However, do you know what adjusted gross income qualifies a person or family to be in the top 10%?
If your AGI is $113,799 a year, you are in the top 10%* and you “should” carry the brunt of the tax burden (69.94%) for the entire US…according to the facts and the attitudes of most of the citizenry.
Now consider that the 2010 census data
listed the median household income for several north Dallas suburbs as over $100,000 per year and you realize that the “rich” people are YOU! If it’s not you, it’s your brother, your best friend, your pastor!
Can you really look at your spouse and say, “Honey, we make so much money, it is only ‘right’ that we pay 70% of the tax burden while 50% of the US population pays no taxes whatsoever.” Are you prepared to look at your best friend and say, “Because you make more money than I, you should pay more for the roads that we both travel, the unemployment benefits that others have been using for almost two years, the healthcare costs for those who are currently uninsurable.” What do you really believe? How do you truly feel?
When you compare the per capita income of those in the United States to those around the world, we rank 3rd
out of 208 countries listed of which 83% of the countries in the world make less than $20,000 on a per capita basis. What this means is that the U.S. (not just our country, you and I = “US”) is the 3rd wealthiest nation in the world (we, all of us, are the wealthiest people in the world) and if you believe that “from those who make much, much should be taken and given to those with the least,” then you support how we systematically give our money to fund the world.
So, do you feel like one of the wealthiest people in the world?
If you want to not just feel
wealthy (because you are) but you want a clearly defined plan so that you know
that you are, I would relish a conversation with you about how I can be of service
* Source: Internal Revenue Service