[Carley]

The very people O wants to punish.

[freeangel]

If one is actually paying taxes, then one is considered rich by obama standardds.

[xzins]

A doctor and a lawyer and they only have a few hundred discretionary dollars a week.

The temptation is to accuse them of being lousy money managers. They might be that, but what they really are is penalized.

They want private school for their kids instead of pablum or indoctrination. Where I live, that equals about 36 grand a year for 3 kids.

Put that on top of the 120,000 they identified as taxes, and you’ve pretty well knocked down their 250,000 in income.

Assume that housing costs are much larger inside Chicago as in most major cities and you have taken out another 50 or 60 thousand a year for good housing with its consequent higher mortgage. Transportation, utilities, etc., and you’ve done what the guy said, left him with little discretionary income.

He’d get more mileage out of that income where I live, but he wouldn’t have those jobs either.

More importantly, as someone was saying on TV this week: the truly rich won’t pay. They’ll just move their money or their operation elsewhere.

[Pollster1]

Four years ago, my federal taxes were much higher than this couple’s entire pre-tax income. This year, thanks to cutting back to avoid funding Obama/Pelosi, my total taxes will be about half what this couple is paying for private schools for their kids. The difference? Instead of blaming Bush, the regime should blame John Galt. I’m now a follower.

[BunnySlippers]

BUMP

[R. Scott]

“Rich” and “Wealthy” are comparative terms. I am considered “wealthy” by some friends. I too consider myself “wealthy” – with a retirement income of 36K a year. I too have a couple hundred dollars a month disposable income.
How did this happen? Our daughter moved out and is on her own. My wife died 9 ½ years ago. My expenses are minimal. I live in a one bedroom apartment, drive a 5 year old car and own everything I need or want. My neighborhood isn’t the fanciest or “best” in town but it meets my needs quite well.

There’s also the matter of perception. There was a time when a million dollars was a whole lot of money, remember the old TV show “The Millionaire”? A man was picked at random and given a million dollars. That would buy a mansion, hire a staff of servants and a big expensive car. The man was set for life. What will it buy now – after taxes?

[mainsail that]

Something does not compute. They exceed $250K by not much but pay $100K in taxes?

[ridesthemiles]

Note to Professor Henderson:

Move your family to one of the 7 states where there is no state income tax. All those states have colleges.

Look long & hard at your state income tax return & your property taxes.

I’ll bet you that in Tennessee, you could find a wonderful home on acreage & find good schools there for your kids. You would not have near the costs of winter heating, etc, & the property taxes are far less.

You could buy your new digs in just a few years with the savings in the state income taxes you pay.

Think this over. I am no professor, but you are smart enough to see the light sooner rather than later.