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.
He actually said they have a "few hundred dollars of discretionary income per MONTH.
A doctor & lawyer are about as portable a well-paying job as one can have.