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Compare your income (1 Viewer)
- Thread starter Marmalade
- Start date
mr. furley
Footballguy
we're slightly better off (a couple percentage points) than i imagined as a household. and people need less money than i thought to be considered low income.
Osaurus
Footballguy
mr. furley
Footballguy
i'd pushed it to what i thought was a pretty low number for a family of 4 and the actual number came in a few grand less than that even.
didn't run the numbers on a napkin or anything, but i can't imagine putting a family of 4 through life on 37k a year combined household income.
Gawain
Footballguy
As a family of five, we are not doing as well as I thought we were by 15%. I’m wondering how much of my perception is because we are one income. If my wife worked, the first 50k or so would go to child care and we’d be considered a lot better off with no objective difference in life, except being sad our kids weren’t growing up with a parent around.
one of the many reasons why an exercise like this doesn’t tell much.
one of the many reasons why an exercise like this doesn’t tell much.
-fish-
Footballguy
mr. furley
Footballguy
NutterButter
Footballguy
strange that i didn't read that at first so i did post tax and i'm still at the same point compared to everyone else.
Gawain
Footballguy
NutterButter
Footballguy
Brunell4MVP
Footballguy
My problem isn't with income inequality. Some make more, some less. It's all relative and many have earned it.
My problem is the wealth gap over generations. Granted many uber wealthy give a ton of it away - Gates, Buffett, etc... Gates has given away like $45 BILLION. But a lot of them don't give it away. I think the inheritance tax needs a huge ++++. Too many playboys living off what their ancestors did 5 generations ago.
My problem is the wealth gap over generations. Granted many uber wealthy give a ton of it away - Gates, Buffett, etc... Gates has given away like $45 BILLION. But a lot of them don't give it away. I think the inheritance tax needs a huge ++++. Too many playboys living off what their ancestors did 5 generations ago.
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-OZ-
Footballguy
Funny, I usually forget my pretax income.
I'm not really shocked that we're in the top quarter, but it sure doesn't feel like that. Then again, we're supporting 7 and this is among those supporting 4 or more.
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cosjobs
Footballguy
Pretty good, but apparently they believe the only way to pay for social programs is by taxing those making under $265000
no mention of brackets above that no other revenues such as inheritance tax or reducing corporate tax rates or welfare.
or the military
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NewlyRetired
Footballguy
I always enjoy these surveys where I plug in my part time library job income and see how poor I am because they only look at income, not means.
Ron Swanson
Footballguy
CurlyNight
Footballguy
Well let's just say by law, I don't have to file taxes..
mr. furley
Footballguy
Sand
Footballguy
Not true. Even with very wealthy families the third generation down has expended the fortune, on average.
Steve Tasker
Footballguy
Gawain
Footballguy
I brought everyone up to 42% with the thought that the excess is pushed back out in the form of M4A and UBI. Health is there, but UBI doesn't really go with poverty reduction in my eyes.
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Sand
Footballguy
If we actually enacted measures like that I'd be buying gold to bury and make sure my kids had a treasure map for when I died.
cosjobs
Footballguy
So your net worth is over 5mm?
I'd prefer the cutoff about half that, but still.. How much coke and gambling money do your kids need when you die?
Sand
Footballguy
Negatory, but if these rules go into effect it will be the blue team and those folks will definitely drive that threshold down or allow inflation do the work over time, etc.
cosjobs
Footballguy
what rules? I've seen no blue proposals that would take the Inheritance tax below 3mm.
So this admin has shown zero fiscal restraint and you're fearmongering the blues?
Brunell4MVP
Footballguy
Any statistical backup of your statement?Sand said:
I see BANK statements of a few clients with millions in them. Forget their investments. It's in banks earning like .5% interest. It's their play money. They are extremely well educated and smart. But their entire job is managing the people that manage the fortune they've been handed down and toys they buy. If someone has $200M invested and is pulling a mediocre 7%, they are making $39K per day. No way the wealth gap doesn't get bigger as time goes on. They make in interest in a week what a well off middle class person makes in a year.
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Bull Dozier
Footballguy
Been there, done that. Granted, it was 15 years ago, so the numbers would have been a little different. My wife stayed home with our kids and I was making under 40k. It was a monthly choice of which bill I didn't pay that month, so I could get some other bill that was delinquent caught up.mr. furley said:
NutterButter
Footballguy
chet is still spinning since yesterday. give it up buddy. i don't think its gonna make much of a difference at this point.djmich said:
Sand
Footballguy
Why Wealthy Families Lose their Fortunes in 3 Generations.
This article says 90% rate at which the grandkids lose it all. I was surprised that it was that high, but I guess I shouldn't be. We see how screwed up rich family kids can end up.
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