Second Presidential Debate

[CrackerBarrel]

Originally Posted by ajuhdg

DEFINITELY definitions different. For example, median home cost here is half of that in CT. Not to mention, my family of 5 (MIL lives with us) would NEVER be able to get by $100/week. (I went to the store yesterday and bought FOUR loaves of bread and 2 gallons of milk, which MIGHT get us through the weekend.)

While comfortable is certainly a debatable term, again, just because you CAN live off of a certain amount why should you HAVE to? There are certain things that I have no problem buying generic of, while others might not even look at the price of things. I cut coupons, not because I have to, but because I like to save money where I can. My cousin and her husband make slightly less than we do, but she is STRICTLY organic in her food choices. Obviously that costs more, but that is her 'necessity'.

It seems to be the progression, people who make more money tend to spend more money. If I was making 250k+ per year, then I would have wider opportunities for say a vehicle purchase. I don't HAVE to have a $700/month car payment (believe my, I'm happy that I have a $250 one!), but if the money's there why not!? I don't think anyone's whining that there just barely scrimping by on $13k/month, but if you're really working for it why should you have to give it back. Not to mention, if you're making more, you're most likely putting most of it back into the economy anyway, right? That was just an side thought...

nuff rambling!

That's where the arguments for a national sales tax instead of the income tax make sense. The FairTax plan has a "prebate", where you get a check for what the government has determined to be the tax an average family of your size in your area would pay on necessities (so you aren't paying taxes on things you need to get by), but after that the idea is that rich people spend more money and buy more expensive things, so they pay more sales tax. It is a progressive tax in that sense. It also helps with the fact that some of the richest people in the world have no real income and are just paying the capital gains rate on investments and no other income tax, so you can get at their money when they spend it.