Ski Resort Managers Rejoice!

[steamboat1]

Live totally and completely within your means. Some know how to do that. Way too many, some wealthy, don't.

Ain't that the truth.

 

[Puck it]

If the couple in this example gets a modest house, has one kid instead of two, and so forth, they can live relatively worry free.

My view is that the expectations of what people deserve is out to lunch these days. 40 years ago, the nuclear family with the house and the cars was far more achievable. Now it isn't. It's simply the new reality.

How to respond to that? Live totally and completely within your means. Some know how to do that. Way too many, some wealthy, don't.

Modest house where the jobs are 300k. Add college, car payments. Oh and the taxes. Not much left.

 

[deadheadskier]

$250K is not rich like some think. That is two professionals(husband and wife) working in a tech job for 10+ years with two kids in school and not getting any aid to pay for them. Nice house and two decent cars. And going to work everyday. That is what some people say is rich. I agree with the $500K to some extent. People making that much money and are getting W2' for salaries do not have the options of hiding income like the filthy rich.

It's not Donald Trump money obviously, but only 1 in every 50 American families bring in $250K a year.

If it's such a struggle to live on that kind of income, imagine what's it's like for the average family. I can promise you, every single average working family would trade the tax benefits and tuition help they receive to earn $250K a year instead.

Not suggesting it's wrong to want more, but I don't ever hear any of my friends in that income bracket complain about money.

 

[mbedle]

It's not Donald Trump money obviously, but only 1 in every 50 American families bring in $250K a year.

If it's such a struggle to live on that kind of income, imagine what's it's like for the average family. I can promise you, every single average working family would trade the tax benefits and tuition help they receive to earn $250K a year instead.

Not suggesting it's wrong to want more, but I don't ever hear any of my friends in that income bracket complain about money.

I got agree with this. I find it hard to believe that if you are bringing in 250K a year and having a hard time getting by, you might want to rethink your priorities.

 

[freeski]

$250K is rich no matter how you slice it. If you've over spend on homes, cars, vacations you can chew it up though. The people who make out are people who own there own businesses. I know of people who have "customers" stay at expensive 2nd homes to create write offs.The car dealers seem to be the worst. I know a guy who had 3 Mercedes and wife drove a Hummer and used dealer plates to avoid local taxes. They don't even have a car dealership. Also, write off meals as business expenses, etc...

 

[Edd]

$250K is rich no matter how you slice it. If you've over spend on homes, cars, vacations you can chew it up though. The people who make out are people who own there own businesses. I know of people who have "customers" stay at expensive 2nd homes to create write offs.The car dealers seem to be the worst. I know a guy who had 3 Mercedes and wife drove a Hummer and used dealer plates to avoid local taxes. They don't even have a car dealership. Also, write off meals as business expenses, etc...

Those people sound gross.

 

[cdskier]

Those people sound gross.

Just take a look at some of the public tax records one day. Near Sugarbush there are several rather expensive homes/condos owned by "holding" companies in the Bahamas. Then you have other condos and homes owned by a variety of LLCs (some could be legitimate for different reasons, but I'd bet others are setup that way for tax purposes, write-offs, etc).

 

[dlague]

Dlague? translation pls

Can't help you on that one!

 

[steamboat1]

Yeah lets tax the shit out of those rich bastards even though they already pay the lions share of taxes in this country. It's only fair.

[h=1]Top 20% of Earners Pay 84% of Income Tax[/h][h=2]And the bottom 20%? They get paid by Uncle Sam.[/h]

 

[Not Sure]

I got agree with this. I find it hard to believe that if you are bringing in 250K a year and having a hard time getting by, you might want to rethink your priorities.

I think it depends where you live, 250K goes alot further outside the Metropolitan areas that living down town.
As far as self employed people getting tax breaks, they bust you up front with a "Self employment tax".
I'm sure there's abusers like anywhere else.....which leads me to another gripe.
I've done a lot of work in subsidized housing projects, 20% of those people are working the system.
One tennant tells me " Hurry up and finish your job I'm going to the batting cages , big screen TV and freakin Escalade
....Ha Ha ...his thermostat somehow got stuck on 60f.

 

[dlague]

I got agree with this. I find it hard to believe that if you are bringing in 250K a year and having a hard time getting by, you might want to rethink your priorities.

250K translates to about 50k in taxes. Earning higher incomes generally means higher expenses. 250K is not rich. And should not be treated that way.

 

[steamboat1]

Top 20% of Earners Pay 84% of Income Tax

Yet only earn 51% of income.

To be in the top 20% you need to earn $112,000 per year.

Lets tax those rich bastards more.

 

[Jully]

I mean the top fifth of people paying 4/5s of taxes isn't a total travesty in my opinion. We have a gradient income tax. I'd like to see what percentage of the 80-90% earners pay of that income tax compared to the top 10% percent. There are people with $3 million salaries that should translate to more income tax than someone making $30,000 or 1% of that.

This massive income tax isn't hurting the top earners that much because since 1979 the top 20% of earners in the country have seen post income tax income rise by greater percentages than the remaining 80% with the top 1% of those earners seeing a 200% growth in income after they paid their taxes compared to the 20 to 80% earners seeing a 40% rise in income.

Income inequality in this country is rising despite all the uncle Sam benefits and high income tax on the top earners so I don't feel too bad about that tax statistic. If the top earners were seeing equal income rises to the rest of the country or were seeing less growth, then we'd have a discussion.

 

[steamboat1]

yeah burger flippers deserve more. Don't have to risk a thing.

Ever hear of risk & reward?

 

[Jully]

It's a lot more complicated than that and you understand that. Give me a real reason and we can have a discussion, because there are real reasons out there. The majority of the poor and lower middle class in this country do not flip burgers. There are significant socioeconomic factors holding millions in their places. I'm all for fixing that through education, not handouts, but I'm for fixing it. I don't want to not tax the wealthy so that they can afford luxurious vacations and million dollar vacation homes.

You got help getting where you are today, and if you didn't you're a part of a super minority. Ever hear of giving back?

 

[JimG.]

Haven't a clue but I think he met BG at Platty, smoked some resin & had a few wines.. I could be wrong though. No idea what Yonkers had to do with it.

Love ya Scotty.

translation: don't try to score MJ in Yonkers it's dangerous and you might get ripped off.

 

[JimG.]

Not needing to go to work is my idea of rich.

Holy crap!

Something I agree with you about.

 

[VTKilarney]

Not all rich people took a risk.


.

 

[deadheadskier]

Not all rich people took a risk.


.

+1

And "burger flipper" isn't a profession that should be belittled either. That sort of white collar arrogance doesn't exist in much of the developed world outside of the US.

 

[Puck it]

I got agree with this. I find it hard to believe that if you are bringing in 250K a year and having a hard time getting by, you might want to rethink your priorities.

One always spends to the level of their income. Why not.