I teach first grade and I have a 7yo daughter. I would take her out of school to go on a vacation if I needed to. That week would be much more beneficial to her in the long run than one week of school.
I had several students miss a week or more of school this past year. One had surgery, one went to visit her father stationed in California, and one went to visit grandparents on the east coast. All three of these students' parents notified me well in advance. I gathered necessary books, worksheets, and activities that they would need to do while absent from school. The deadline to turn these assignments in was one week after their return to school. They did not have to do every single thing their classmates did while they were out. They had to do the most important assignments and some alternate assignments. The travelers were required to keep a journal and record certain information from the states they traveled through and complete a writing assignment about the trip. There is no way to replace the missed class time, but there is also no way to replace the trip. We worked out the best solution for all -- the parents and myself together. (I think THAT is the key.)
In my school district, we are paid for 190 contract days. We can choose to divide our pay by 9, 20, or 24 installments. Many of the teachers and other school personnel work additional jobs to make ends meet, and some for "extra" money. Yes, we get a lot of time away from the job. Yes, we also spend many (did I say many?) hours working away from school. My official work hours are 7:45-3:30. I generally work 7:30-4:30. Then I carry home a big canvas bag full of additional work. Last summer, I spent a 6-hour day every single week working in my room and preparing for the school year. This year I vowed not to spend that much time, since I want to spend it with my daughter. So far, I've only spent 2 full and 2 half days at school. I have about 2 full days I need to put in to get my room in order (we were all shuffled this summer). Then of course I have to get my room/first week stuff completely ready. This is all done on our own time, since the contracted days consist entirely of meetings and workshops. I chose this profession because I really wanted to be a teacher. I also would like to be a stay-at-home Mom, but that is not feasible, so I have the best job for offering time with my child. Sorry, I got sidetracked......
Back to days off. I get 1 personal day each year. It can not be used immediately before or after a holiday, so I can not add it to a long weekend. My husband can not take off work around the Christmas holidays, so we can not vacation over Christmas break. Since we find the Florida heat unbearable in the summer, we go on Spring Break.
Year round school is rare in our state. It gets little support from the public or teachers, except for those already doing it. Some of my friends teach in a year-round school and LOVE it. They enjoy the frequent refreshing breaks and the students perform better overall. If my school went to year-round, I could finally take advantage of those Disney Fall Specials.
I missed a lot of days last school year. I had 7 school business days and several days of jury duty. Most substitutes are very competent and when I know I'm going to be out, I leave more notes and instructions than they need. Yes, the kids always try to get by with more -- sometimes they do, and sometimes they get a sub who is much more strict than I am.
I personally wouldn't have a problem with it as long as the teacher is a good one. I don't have problems taking my kids out of school to go either (though haven't done it yet -but would if we wanted to go off season). 
