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Old 02-22-2007, 10:28 AM
 
Location: Lake Norman Area
1,472 posts, read 3,670,721 times
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WOW, some people make over $100k a year and dont consider themselves atleast 'well off?'

You can add NC to the list of states that people who arent rich move to, but live like they are rich.
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Old 02-22-2007, 10:30 AM
 
3,042 posts, read 8,095,528 times
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sure, well off, upper middle class, but not wealthy or rich. i would consider my grandpa rich, but I am just a upper middle class sod
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Old 02-22-2007, 10:34 AM
j33
 
4,625 posts, read 12,876,071 times
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Oh, I grew up blue collar, money was often discussed, but it different ways (as in, 'they are threatening to repossess the car again, you'd better call 'em and see if they'll take $50 this month, sort of ways

My original response was more in reference to Delaneyland. I guess what I'm trying to say is that while I certainly don't have a problem with talking about money and material things, and have thought before about where I would live if I were rich (who doesn't), and in thinking about it realized that I would be miserable sequestered off in a community of wealthy people. On my street there is a house a few doors down that sold for 1.8 million dollars, and in rear apartment of the two flat I live in, lives the manager of the local hardware store, and he waves to the owner of the 1.8 million dollar house while walking to work each day. I like the mix of people in my neighborhood and have no problem with the wealthy or the 'not so wealthy' sorts that live here. and if I were able to afford a 1.8 million dollar house, I may buy one, but in a neighborhood like mine, not is a far-flung exurb surrounded only by other 1.8 million dollar houses.
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Old 02-22-2007, 10:39 AM
 
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i see what you are saying, and the places that I have lived that would be considered what the topic asked, are alot like what you stated.

there are people in condos, resorts, apartments, old homes, and multimillionaire homes in my hometown. Lots of retirees as it is a big place for golf and tennis and it a beach side city.
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Old 02-22-2007, 11:51 AM
 
3,020 posts, read 23,644,486 times
Reputation: 2704
Quote:
Originally Posted by Need_affordable_home View Post

If Florida does away with property taxes, I can see it being a good place for the rich. They can afford those nice $250k plus houses and save many thousands a year on property taxes. Add to the fact theres no state income tax to suck thousands off their huge incomes. Wont benefit the poor and middle class who cant afford a house anyway.
Once again NAH you have gotten way off the farm.

FL is a horrible place if you are rich and your money is in investments like bonds, stocks, etc. There is like a 250 K limit and then you pay a tax every year even if you don't buy / sell based on your holdings. Could be a real killer over time, especially if you are a long term investor.

I bet no sane rich guy calls Florida home for tax purposes that would require they file in Florida. Probably put the property in some straw name, lots of ways around rules. Rich guys never live in just one place, not even Oil City or WPB.

You need to do better research before becoming wildly rich.
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Old 02-22-2007, 12:03 PM
 
Location: Central Florida
1,406 posts, read 4,676,451 times
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Quote:
Originally Posted by Cosmic View Post
FL is a horrible place if you are rich and your money is in investments like bonds, stocks, etc. There is like a 250 K limit and then you pay a tax every year even if you don't buy / sell based on your holdings. Could be a real killer over time, especially if you are a long term investor.

I bet no sane rich guy calls Florida home for tax purposes that would require they file in Florida. Probably put the property in some straw name, lots of ways around rules. Rich guys never live in just one place, not even Oil City or WPB.

You need to do better research before becoming wildly rich.
Is that just FL that taxes bonds/stocks annually? Guess you can tell by my question that I'm not particularly worried about paying this, but I can't imagine that only FL would have a tax like this. And for some reason lots of rich folks have homes in Florida -- the Kennedys, Trump, et al.
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Old 02-22-2007, 12:14 PM
 
3,020 posts, read 23,644,486 times
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Quote:
Originally Posted by FL_TN_Nana View Post
Is that just FL that taxes bonds/stocks annually? Guess you can tell by my question that I'm not particularly worried about paying this, but I can't imagine that only FL would have a tax like this. And for some reason lots of rich folks have homes in Florida -- the Kennedys, Trump, et al.
I can't think of any of state that taxes the "Value of an Investment" like Florida does. Most states tax only on a Buy / Sell transaction or where some type of profit is made like a dividend.

A few states have screwy taxes like on Inventory of Goods but that tax in Florida is just inviting rich folks to divide their wealth into methods that avoids it in some fashion. I can't believe anybody with real big money would just mail in a check for wealth that is just parked and growing, after all what is the concept of sheltered investments for if you get taxed anyway. Totally stupid idea.

Must snag only the Newbie Rich guys who didn't read the rules like NAH is soon to be.
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Old 02-22-2007, 12:36 PM
 
3,161 posts, read 8,103,442 times
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Quote:
Originally Posted by Need_affordable_home View Post
I ask this because im curious and also I know some rich friends making $100k a year or even more!...If Florida does away with property taxes, I can see it being a good place for the rich. They can afford those nice $250k plus houses and save many thousands a year on property taxes.
For many areas in the US, making $100K/year isn't rich and $250K is an average or below average home price. Where I live in the northeast you'd be in the middle class. Remember that most of the US isn't Oil City, PA and the majority of homes in the country cost in the six figures.
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Old 02-22-2007, 04:19 PM
 
Location: WPB, FL. Dreaming of Oil city, PA
2,909 posts, read 12,997,994 times
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so what states would be better than FL for the rich? Wont the rich want to save by not paying property taxes if FL eliminates them?

As for $100k incomes, its very high in states with low costs of living and cheap houses. That income can get you several houses if you needed that many LOL.
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Old 02-22-2007, 04:41 PM
 
Location: Atlanta
699 posts, read 2,343,294 times
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A tiny percentage of people in the U.S. are actually 'rich'....a little larger is the upper middle class, and that is where I would think someone making $100,000 or more is classified. Most of America is middle class, average income...or less. But since so many people live above their means it's hard to tell who is in which class - that is the great thing about our class system. In other countries it's painfully obviuos who is poor and who is wealthy.
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