But the thing is, not everyone respects the flag, or even what you say it symbolizes, and the American government does grant these people the right to express their views about it. The fact that you, or even most of America disagrees with their views should not abate their rights.

The "BOMB" example you gave is irrelevant to flag-burning. Such vacuous behavior is likely to cause injury to many, even potentially death. Flag-burning, aside from potentially being a fire-hazard, does not threaten anyone. Banning flag burning would simply be a limit on your freedom of expression because the majority does not like what you are expressing. Such limits would directly attack what America has sworn to protect.

Also, symbolization is overrated. Burning the flag is not the same thing as disrespecting the work of veterans. As Sovereign said, the flag is merely a piece of cloth. One can claim anything to be a symbol of practically anything else. Furthermore, nothing forces us to respect the work veterans did, that is your own value.