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Why a middle-class lifestyle on the coasts costs $300,000
CNBC ^ | April 27, 2018 | Sam Dogen

Posted on 04/28/2018 2:27:00 PM PDT by nwrep

Who makes $300,000 a year?

•A Bay Area Rapid Transit janitor made $234,000 + $36,000 in benefits in 2016

•A Bay Area Rapid Transit elevator technician made $235,814 + $48,429 in benefits in 2016

•Starting salaries for 22 year old employees at Facebook, Google, and Apple range from ($80,000 – $120,000) + ($10,000 – $50,000) in annual equity grants.

•30 year old first year Associate in banking earns $150,000 in base salary + ($0 – $120,000) in bonus

•A 26 year old Airbnb employee shared he got a $250,000 total compensation package back in 2015

•A 26 year old first year law associate at a firm like Cravath make $180,000 base + $20,000 sign on bonus. By the end of their 6th year they are making over $300,000

•A 29 year old Director of Marketing at a startup makes between $120,000 – $180,000

•A personal finance blogger with 500,000 pageviews earns between $150,000 – $600,000

•A 42 year old college professor at Berkeley makes $235,000 on average and $279,000 at Columbia and NYU

•The average specialist doctor finishing his or her fellowship at 32 makes $300,000. The average salary for a primary care physician is $200,000

•A 26 year old middle school teacher making $55,000 a year plus her $250,000 a year VP of Marketing wife

•A 56 year old high school athletic director making $100,000 a year plus his $200,000 a year management consultant husband


TOPICS: Business/Economy; Culture/Society; Front Page News; US: California
KEYWORDS: california; coasts; culture; economy; incometaxes; salary; taxcutsandjobsact; taxreform; tcja
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To: napscoordinator

You amoral types end up going to hell.


41 posted on 04/28/2018 8:22:31 PM PDT by steve86 (Prophecies of Maelmhaedhoc O'Morgair (Latin form: Malachy))
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To: ClearCase_guy

Disgusting.

They couldn’t bring themselves to mention heterosexual couples. Just the perverted ones.


42 posted on 04/28/2018 8:30:10 PM PDT by thecodont
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To: Ikeon

I don’t blame you for taking them, you did nothing wrong.

But it is a financially unsound system and it is not moral for public employees to live like nobility while workers in the private sector have to pay for their own retirement and also that of the public employee.

The system is going to imblode anyway.


43 posted on 04/28/2018 8:33:47 PM PDT by crusher2013
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To: crusher2013
I agree it is financially unsound, but have you ever taken a free sample at Costco? These people are doing the same thing- taking free money... They chose to live there, because the wages are so high, and its a free country, company's can move where they want and hire who they want and pay what they can get away with. What's really amazing is the number of people who live in these cities who support socialism, expecting to keep their 300K a year jobs.. socialism pays everybody 20k a year.DOH! .
44 posted on 04/28/2018 8:42:28 PM PDT by Ikeon (WhAaat? you got offended by something you read on the intranet?)
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To: Ikeon

The problem is most people confuse charity with socialism.

Heck within reason, I think the Government should help people who truly need help as well as private charity.

But Socialism is about control and not charity. If you don’t own the fruits of your Labor then you are really just a slave.


45 posted on 04/28/2018 9:02:58 PM PDT by crusher2013
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To: crusher2013; Ikeon; SamAdams76; Elsie; RegulatorCountry; neverevergiveup; i_robot73; StAnDeliver; ..

Recently I heard an interesting discussion comparing capitalism and socialism. After listening to it and making notes, it confirmed something I have been thinking for some time. It started with my liking of the saying, “give a man a fish he eats for a day, teach him to fish he eats for life.” The Christian impulse to help others is important in our culture, but has been perverted by totalitarian Communism. Making people dependent on the state for all their safety and comfort is weakening. On the other hand the basic goal of Capitalism is controlling production and amassing as much profit as possible destroys the social contract. Our political parties seem to be in major crisis. I am thinking the perhaps we need a new party—the Entrepreneurs Party. Such a party would have the basic goal of using the creative spirit to create something of value to other people, and using profits to help self and family. But once one has a reasonable level of comfort, then using one’s business and energy to teach and help others build and be creative as well. The end goal being a comfortable life where one also takes pleasure in aiding the growth and comfortable life of others. The end goal of amassing huge amounts of money does not seem to make very many happy super rich people.

On the subject of super expensive cities. I notice several trends. It seems that in some cities big national developers promote legislation to push poorer people out and increase the rate of gentrification. One way of doing this is by increasing property taxes 10% a year and more even if no improvements have been made on one’s home, but based on one or two sales of super renovated properties. If you live in such a city, fight back, demand that unimproved property only be taxed using the inflation rate which is typically 2 or 3%. In one city, I know, failure to pay property tax on time causes a 12% penalty in the first late month. In surrounding jurisdictions the one month late rate is only 1.5 to 2%. I could go on, but you get the idea, watch for such tricks by big developers in your own area. This harms many other types of businesses as workers have to live way out in the suburbs where homes are cheaper. Incidentally, regarding NY City prices, property taxes in New Jersey are higher than in most other places.


46 posted on 04/28/2018 11:25:45 PM PDT by gleeaikin
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To: gleeaikin
property taxes in New Jersey are higher than in most other places.

About on a par with Texas, I'd say.

47 posted on 04/29/2018 1:26:40 AM PDT by RegulatorCountry
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To: gleeaikin
I agree with the fact capitalism can be used for evil.. IE certain stores after Florida hurricanes were charging 30-50$ a case for bottled water that was 4.00 the week before, not people but, actual chain stores. Now maybe the store manager was to blame and the chain NEVER approved such a strategy..There was money to be made. Ex: At age 10 I used to shovel sidewalks, I set my fee per house and how much they could reasonably afford, single moms got a price break etc. Capitalism in the right hands helps everyone.
And yes, some city control boards are crooked. they raise taxes to drive some people out. I've seen it many times when a developer comes in and builds where others had been denied a permit, it is well known some people knew who to pay off, some people you can feel the slime roll of them when you meet them, Biggest problem in my area is our local review board is appointed by the county commissioner's... so how crooked is that? hint - very
48 posted on 04/29/2018 2:47:14 AM PDT by Ikeon (WhAaat? you got offended by something you read on the intranet?)
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To: ClearCase_guy

They forgot to point out racial makeup though. Unless it wasn’t what they wanted to see.

Had to read them a couple times, those two didn’t look right when I scanned over it.


49 posted on 04/29/2018 3:06:09 AM PDT by jughandle (Big words anger me, keep talking.)
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To: nwrep

When janitors are paid $270K a year—how can the middle class be middle class for less than $300K?


50 posted on 04/29/2018 3:32:15 AM PDT by 9YearLurker
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To: nwrep
30 year old first year Associate in banking earns $150,000 in base salary + ($0 – $120,000) in bonus

A little research shows this is all probably BS. I did a quick search on banking jobs in San Francisco, Most pay moderate salaries not like the "$150K" reported: Here is the link. Check it out for yourself:

Banking Jobs in San Francisco, CA (300+ Jobs)

51 posted on 04/29/2018 3:39:13 AM PDT by central_va (I won't be reconstructed and I do not give a damn)
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To: Balding_Eagle

I’m awaiting what a True Scotsman believes.


52 posted on 04/29/2018 3:49:05 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Ikeon
At least he didn't embezzle it..

And he didn't WRITE it!


Yet we get REALLY upset when illegal aliens border invaders take advantage of US laws that they had no hand in writing.

53 posted on 04/29/2018 3:51:06 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: steve86

Really?


54 posted on 04/29/2018 3:51:50 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: crusher2013
... it is not moral for...

I think you mean 'fair'.

55 posted on 04/29/2018 3:52:53 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: gleeaikin
... by increasing property taxes rent you owe the gummint 10% a year ...
56 posted on 04/29/2018 3:54:41 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: nwrep

Nice pic.

Being in my stroller on the Brooklyn promenade is, literally, the first thing I remember.


57 posted on 04/29/2018 3:57:11 AM PDT by Jim Noble (Single payer is coming. Which kind do you like?)
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To: gleeaikin
I can go down to Lowes and buy up a whole lot of building materials, pay the sales taxes and then place them in a pile on my lot and never have to pay taxes on them again.


But; if I supply my labor to rearrange these very same materials into a certain pattern; I'll re-pay taxes on them yearly until I croak.

58 posted on 04/29/2018 3:57:19 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Elsie

Don’t you renters be so smug; thinking that YOU are avoiding property taxes.

Your landlord figures his cost into your rent; taxes and all.

ALLbusinesses pay NO taxes; as they are rolled into what the final customer pays.

Ain’t it grand?

Did the price of widgets go up that are used in what you bought? Yep; you just paid for them.

Did the cost of labor go up due to a strike? Yep; you pay for that; too.

Did the gummint just raise ‘taxes’ on the company because of Green Laws? Yep; you just...


59 posted on 04/29/2018 4:03:09 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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To: Elsie

60 posted on 04/29/2018 4:05:29 AM PDT by Elsie (Heck is where people, who don't believe in Gosh, think they are not going...)
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