The Rev-rhund Sharpton says that you must increase your taxes paid next year, then! Pay up!
Posted on 11/06/2007 5:49:23 AM PST by shrinkermd
This article is a compilation of income and wealth statistics by percentile. It is fairly comprehensive.
Among the quotes are:
Or, as a Washington think tank recently pointed out: If you're a teacher married to a policeman, your combined household income puts you in the top 25 percent of all households in the nation.
"...Whenever I slip these tidbits into cocktail party chatter, people are surprised to realize how little money it takes to win a gold star from the Fed. If you and yours are bringing in $40,000 a year, you're doing better than half the households in America.
(Excerpt) Read more at finance.yahoo.com ...
They need to do this by region or else it’s pretty useless. Some places cost a lot more to live. But it’s true ppl don’t realize where they fit into the picture.
These are the "rich" people Hillary wants to raise taxes on. Not the people in her income range and not the "poor" who pay no taxes anyway. It's you and me brother.
The Millionaire Next Door delves into this a bit. It would be interesting to see how many of those high earners (in any given year) are there because of the sale of a home.
OK, so Mr. CGG and I are above average in income. Why don’t I feel rich?
Because you’re also above average in intelligence?
I remember thinking when all of this SCHIP nonsense started last month how crazy the left's thinking was. If you are a family of four making $80K a year, you are "rich" enough to afford a tax increase, yet you are too "poor" to afford health insurance for your kids.
The most I ever made was about $37,000 and that was as an evil union thug here in Michigan. It’s not great but it’s not terrible either.
Me too!
At least you made it to thug. I never made it past goon.
Because you don't understand the difference between income and assets.
LOL
Do you have the "official" chain-of-command heirarchy of a Union?
(I was a Union member for only 2 years; back in 1968 and 1969), and have never been in a "seniority-based" career path since....
I was up to 90K+ my last year of corporate dronedom. Then I jumped ship to pursue my dearest dreams and interest. Making more like 25K but happier and healthier, with prospects.
True that. According to the first chart, my wife and I park pretty high up in that parking lot, but we're solidly middle class here in eastern Massachusetts. You cannot live in any of the towns that surround us . . . well, on three sides, anyway . . . if you don't park on that top floor---and you don't park your Rolls on that top floor at that.
And I'm sure cats who live in Manhattan, LA, and San Fran have it even worse.
I was lucky to be born into a frugal blue collar family where I could learn the art of living cheaply.
Most people around here live in Jackson county Michigan due to the lower cost of living here but work in Washtenaw county where pay is better.
I bet that’s it.
We’re above average in both and I still don’t feel rich. I’m not rich.
It’s not how much you make, but what you do with it.
Because everything costs so damn much.
My word! Who are the ones making LESS than $40,000?
Me and my spousal unit combined earn quite a bit more than that, but there is no way I feel like we're wealthy.
I can't imagine trying to get by on less than 40k.
We have more-or-less the same dynamic around here. Pay is better in Boston, but the cost of living is astronomical, so people tend to live in the surrounding suburbs and exburbs. And now the cost of living in those places is celestial as well. One has to drive at least an hour from Boston to find anything affordable.
Damn! I am rich! Who knew!
They say if you have assets over 800 plus thousand you are in the top tier. That may be so but that is a long way fro wealthy in my opinion.
Right. Wealthy people spend 860 thou a year old their hobbies.
Wow. I don’t feel so poor now.
I have often noted the same things. When raising taxes, there are an awful lot of people that liberals think "can afford it." But when doling out entitlements, there are too many to be paid.
Let's see the democrats tax net worth. Let's see how that goes over. Oh yea, the death tax.
By the way, why don't we ever see the stats officially labeling the "middle class"?
Consequently, these statistics are always way off for income levels. There is a large group of workers in the 17 - 23 age range that have very low wage jobs while in school that are included in the stats as "poor." There is also a lot of 60 - 90 age range that is included. They switch back and forth from "house hold" incomes to individual incomes when it fits the story they are selling.
They have higher wages, but expenses are higher there, so it all works out. They are fundamentally no better off than we here in the heartland who are paid less.
Both my sons make more than I do, (both more education as well), but both also live in some high-priced areas.
That's funny. Police and teachers (unions) here in Cali are always whining about how poor and underpaid they are.
My wife and I are also well above “average” nationally...but only slightly above locally.
Either way we don’t feel rich, either.
It's not how much you make, it's how you make it much?
'fro wealthy?"
But yeah, "wealthy" is a noise that liberals make when they want to raise taxes. It conveys no specific meaning.
It's not real popular around here (understatement) but I was a union member for 31 years and I don't try to keep it a secret, nor do I keep secret the fact that I have never voted for a democrat in my life.
.
See there? I bet you feel richer already!
I thought it interesting when Britney Spears and her husband Kevin went to court and had to declare earnings. The press focused on Britney and not her husband...he earned over $500,000 but after deductions his gross pay was around $7,000. I guess Hollywood knows how to avoid paying taxes, makes it easier to support a candidate who is going to raise taxes.
A lot depends on where you live, how many people in your family, is your house paid for etc. Many people get by on a lot less than 40k per year.
fro is for from. Careless typing. But I am rich so you cannot criticize me {ahahhahahaha}
The Rev-rhund Sharpton says that you must increase your taxes paid next year, then! Pay up!
I feel better already.
That is mean!!
Begone poor man, I shall consult my many tax advisors and find some loopholes to protect my wealth.
“If you’re a teacher married to a policeman, your combined household income puts you in the top 25 percent of all households in the nation.”
On Long Island the yearly salary for this couple would exceed $200,000 with tremendous benefits (almost nothing out of pocket). If the Police Officer hubby works a little overtime they can get the annual payola over $250K.As well, when they both retire their yearly incomes can approach their working incomes (perhaps exceed)depending on how many vacation, sick days they cash in and how much OT they work their last three years, all going towards their gross income. God Bless our politicians in the State of New York and the Long Island Counties for making our teachers and cops very wealthy (sarcasm). I feel sick....
The article is trying desperately to pretend it is some stacked deck game, when anyone with anything to invest can assure himself better than average returns by using low fee indexes. Actively managed instead can only make more somewhere if another actively managed makes less. In the aggregate, they too have to get the average return - minus the vastly higher fees involved.
The other things missing in the whole article are age and household size breakdowns. Two married workers in mid to late career are going to count as "rich" unless they have been financially irresponsible their entire lives. A single person just out of college isn't going to have any assets, outside a tiny second generation trust fund set.
LOL! Poor man - that’s me!
Of course it is all relative. I made more than $170K per year for several years but I don’t feel rich. I save as much as possible. I drive old cars ( all my cars have over 125K miles. I live a very conservative life style. I don’t have a lot of toys (ATV, boats). I tithe to my church, make house payments in Southern Cal, and after taxes I don’t save over 15% of my salary. It would be hard to survive in SoCal making $80K and 2 kids in college. The stats I find appalling is the net worth. 50% of the people have less than $60K. You can’t retire with just SS, our children are going to have a huge problem when SS goes up in smoke.
Get to the top by spending like you’re at the bottom.
Median world income is about $2 per person per day.
If you’re making more than half the world’s population, you’re not poor.
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