i dont hate lawyers, but i'm getting a good hate worked up for him.
hate? for what? complaining about the current state of the income tax structure? let me simplify my complaint for you: the "pure income earners" in this country carry absurd portion of the tax burden. *important note for LSD idealougues:* this is NOT a rich v. poor debate. phew, thank god we avoided that. this is a "income earners pay a ridic tax burden" v. "the huge % of very wealthy americans who get by by claiming unfair capital gains earnings and pay only 15% of total earnings to tax" argument. you may not understand it, fair enough. you'll get it once you start collecting that pay check.
do we still hate each other? ok fine. i knew that we would. ok ok i agree, the top 45% of society should pay at least 40% of earnigns into the tax system. there, can we be friends now? so, excited for that first real job once you graduate from law school?
This is because ďpure income earnersĒ donít contribute much to the system. America has never been, until recently, all about being an employee. Tax benefits are given to those who create jobs, own business or have equity/real estate. Because they ADD something to the economy, they create jobs salary employees do not. Donít like, sorry then donít strive to be a worker bee. Start your own firm, rather than sucking of the teat of those that had the balls to do it before you. Working for someone else has never been the path to riches in this county, its has always been to create wealth yourself by owning the instrumentalities of commerce.
I donít get this argument or sense of entitlement that you should expect riches for just doing your job when you have traded the uncertainty of creating jobs and risk of losing your capital for the certainty of having a job without any relative risk (i.e. you have put fourth nothing but time for education to create value). We reward risk takers not salary makers. Your nothing more than a higher paid worker bee, donít like it, take the risk to create your own wealth or come to terms with leaving it someone elseís hands and paying a higher rate in taxes because you donít add wealth to the system.
It's impossible to guage "risk." Who is to say that the highschool dropout who starts a small business is more likely to "make it" than the T1 law school graduate with biglaw aspirations? Absent those from Yale law, ALL of know how difficult it is when coming to obtaining that 160k market rate "dream job." Facts are facts, the last time I looked at the bimodal distribution less than 15% of law school graduates were walking into market rate jobs. What does that tell you? It should tell you a couple of things: first of all, it should tell you that though the competition to enter law school at some levels is borderline pathetic, at the higher levels it is the most stringent form of competition that tihs country sees in terms of graduate school admissions, and 2) entering law school and taking on high 6 figure debt is an absurd risk when you consider the actual probabilities of "making it" in a salary sense. By these considerations, the risk element encounted by law students matches (if not exceeds) the risk encountered by small business owners in this country.
as to the "they create jobs" arg, this is true in as much as they already receive tax cuts for payouts made to employees, etc. it's not a simple 15%; the 15%; is post biz expenses. fair? no way. look at the percentages. income earners carry a vastly disproportionatly share of teh overall tax burden at the upper echelons.