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I work for a small company and the owner is an consultant. If he doesn't earn $250,000 I bet he is really close to it. I think he probably works less hours than my direct boss and would have plenty of time to putz around on the computer. He does other things instead, things that are not 'work' but if he wanted he could spend the same time hanging out here. That's one advantage of owning the business and hiring people to do the bulk of the work. He can take on many more clients (i.e earn more money) and do much less work overall.
I work for a small company and the owner is an consultant. If he doesn't earn $250,000 I bet he is really close to it. I think he probably works less hours than my direct boss and would have plenty of time to putz around on the computer. He does other things instead, things that are not 'work' but if he wanted he could spend the same time hanging out here. That's one advantage of owning the business and hiring people to do the bulk of the work. He can take on many more clients (i.e earn more money) and do much less work overall.
I agree that there's plenty of folks that make well over 250K a yr. However, my point was - i doubt that there's anybody making well over 250K that blogs here on daily basis. There's just no correlation between that kind of wealth/intelligence and the constant, daily, active participation on these forums. As a small business owner (imaginary), there perhaps would be plenty of meaningful/useful opportunities that i would want to look into other than REGULAR attandance in CD forums. There's just no correlation there. On the other hand, if was making 30K, working from 9-5.........go figure.
I think one of the saddest things is, poor conservatives vote for republicans when it benefits the rich and doesn't help them at all. It is only because of their conservative values instead of their political issues.
Yes, they vote against their own economic interests - it's amazing.
Actually, $250K isn't that big a deal. And you really don't have to work all that hard to get paid that much. LOts of rich people earn passive income, meaning, they do little to no physical labor to rack up that kind of money. The income may come in the form of dividends from stocks, interest from bonds, or rental income from real estate. Say you have a $3 million portfolio earning 3% a year. That's $90k in passive income. Then you work at an 8 to 5 job earning $80k (say a schoolteacher, nurse, or cop in a major city in the East or West coast) and your spouse also earns $80k. That's 90 + 80 + 80 = $250K.
So I suppose the people who post on the CD forum are either jobless and poor (plenty of time on their hands), or very rich (they don't need to work or only work part time).
Actually, $250K isn't that big a deal. And you really don't have to work all that hard to get paid that much. LOts of rich people earn passive income, meaning, they do little to no physical labor to rack up that kind of money. The income may come in the form of dividends from stocks, interest from bonds, or rental income from real estate. Say you have a $3 million portfolio earning 3% a year. That's $90k in passive income. Then you work at an 8 to 5 job earning $80k (say a schoolteacher, nurse, or cop in a major city in the East or West coast) and your spouse also earns $80k. That's 90 + 80 + 80 = $250K.
So I suppose the people who post on the CD forum are either jobless and poor (plenty of time on their hands), or very rich (they don't need to work or only work part time).
Well, since the median household income in the U.S. is about $50K, most people don't make a large income. In fact, half make less than 50K. Half make more, but how much more?
We know that most of the wealth is in the hands of a very few people. So, what's your point? That ANYONE can make $250K? Statistics show otherwise.
What if you make much less than $250K but depend on dividends and capital gains for your income? For instance, utilities are called "widow's stocks". My mother depends on these and the much-hated Exxon Mobil.
Those poor people are going to be slayed by Obama's tax policies.
Well, since the median household income in the U.S. is about $50K, most people don't make a large income. In fact, half make less than 50K. Half make more, but how much more?
We know that most of the wealth is in the hands of a very few people. So, what's your point? That ANYONE can make $250K? Statistics show otherwise.
The point is not that anyone can make a $250K income. The point is that you don't have to work 30 hours a day to earn $250K (preventing you from doing other things like posting inane stuff on CD), because a lot of very rich people actually earn passive income.
The median income in the US is $50K, but I submit that people who use the internet don't necessarily belong to the median household. People who use the internet are not a random cohort of individuals; they are self-selected. They obviously have the time to use the internet because they are either 1.) unemployed and poor, or 2) unemployed (or partially employed) and very rich.
Here is how 2 people can make over 250k, have fun, live in CA and have time to do internet surfing while working:
2 Parents I.T. workers - each making 130k (10 years experience, B.S. Math or Engineering, Masters in Computer Science, C++/C Software Engineers and a senior DBA).
Telecommuting from Home
2 Monitors on the desk - 2 CPU's
On the work computer -> Compile C++ Code
On the home computer -> Post on City-Data.com
On the work computer -> Deploy C++ exe to server for test
On the home computer -> Post on City-Data.com
Pretty simple...
(I know at least 20 couples in my company that do this - including my family, it pays to be a nerd.)
What if you make much less than $250K but depend on dividends and capital gains for your income? For instance, utilities are called "widow's stocks". My mother depends on these and the much-hated Exxon Mobil.
Those poor people are going to be slayed by Obama's tax policies.
Obama said that the current long term capital gains tax rates (15%) will revert back to the Clinton levels during which the economy was very good. I believe capital gains tax rates will not exceed 20% under Obama, which is still pretty low by historical standards. But even if it goes up to 28%, you are merely going back to the Reagan tax rates. And the Reagan years were bull market times.
Last edited by ndfmnlf; 10-15-2008 at 12:39 PM..
Reason: incomplete post
The point is not that anyone can make a $250K income. The point is that you don't have to work 30 hours a day to earn $250K (preventing you from doing other things like posting inane stuff on CD), because a lot of very rich people actually earn passive income.
The median income in the US is $50K, but I submit that people who use the internet don't necessarily belong to the median household. People who use the internet are not a random cohort of individuals; they are self-selected. They obviously have the time to use the internet because they are either 1.) unemployed and poor, or 2) unemployed (or partially employed) and very rich.
Well, I'm employed, and make a good salary, so I guess I don't fit.
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