Is 100k a large salary for Long Island? (Syracuse: homes, buy)

[OhBeeHave]

Originally Posted by FrmlyBklyn

I voted No - based on that person being employed in the private sector. However, if employed in the public sector, then they are easily able to stay afloat. Here are the numbers backing up the analysis for a family of 5, two adults (one a SAHM) and 3 kids under age 17, live in a $400K house with a $320K mortgage (monthly p&i of $1,693.47), 5% contribution to 401K

$100K gross, federal taxes of 11,894, FICA and Medicare taxes of $7,650, health insurance payments of $6,000, state tax of $7,500. 401K of $5,000 leaves net pay of $61,957. Annual net tax refund of $9,000 (federal and state savings plan - no interest on balance earned).

Now deduct annual property tax of $12,000, annual mortgage payment of $20,321.64, annual oil heating expense of $3,000, house insurance of $1,500, annual food costs of 18,000 (could be more they have 3 hungry mouths to feed), car insurance of $1,500. Leaves about $700 for clothes, medical out of pocket, after school extracurriculars, church worship, phone, cable, etc.

There are no extras - no restaurants, no MickeyDee's, no movies at Island 16, no vacations other than the beach, no play or theater excursions. The only airplanes they've seen are the ones passing overhead from Kennedy, Republic, etc.

You tell me, is 100K survivable? perhaps, but just barely. It's paycheck to paycheck living or slight deficits each and every week with the rising toll of gasoline that you need just to get around to buy essentials. If the person is currently renting, assume an equitable rent to mortgage payment, leaving little in the way of being able to save for a permanent residence.

Or is the case with some of us paying health insurance premiums -- $16,800 per year, plus $45 copays; 2 children -- one of whom is a teenage driver; insuring two cars with a teenager who had one accident $4,400. College savings for two children $200/month. The only place where I am fortunate is I bought a real POS house 15 years ago and have completed all renovations ourselves. I don't envy any newbies trying to buy a home on LI. It's not easy. (Unless you're a teacher or cop )

[I_Love_LI_but]

Originally Posted by Crookhaven

1) This thread is about buying power on LI.

2) If 100k is crap as a single salary then it would be pitiful as a household income.

3) 77.78%

Who said it is crap as a SINGLE SALARY?

Are you assuming that everyone who voted "no it's not a large salary" thinks it is peanuts as a SINGLE SALARY for a single person?

Come on, crooks. This poll should have been more specific because you know people tend to think of total household income for a family, not single salaries.

You laid a clumsy trap to preach in favor of high property taxes and $100K teacher pay.

I understand what you mean about things getting worse for the middle class and better for the top 1 or 2% and for the corporations. I really do. The middle class has been sold out due to computerization, automation and global labor arbitrage. So the top 1 or 2% and the corporations have gotten out from under in terms of wages, benefits, and pensions and are richer as a result of it and the private sector middle class and working class is poorer. The laws and lawmakers are in the pockets of the corporate royalty.

The saddest thing about this is that the middle and working class is TRAPPED contributing money to the public sector's salaries, benefits that the individuals and families pay very little into, and pensions that they pay very little into.

Do you think it's fair that the middle class/working class in the private sector is hit at both ends? Taken down a notch and forced to pay for things they no longer get for the public sector?

Do you think this is even sustainable in the long term? Do you really think that the middle/working class has endless resources and can keep paying more and more, eventually paying 50% and up of their take home pay for their real estate taxes in the years to come to pay for all the largesse towards the public sector union members?

The world has changed. Do you think the public sector unions never have to man up and live with this because the rest of us will always be able to throw money at them for the rest of their lives? Anyone who thinks so is just plain out of touch.

[Crookhaven]

Originally Posted by I_Love_LI_but

Who said it is crap as a SINGLE SALARY?

Are you assuming that everyone who voted "no it's not a large salary" thinks it is peanuts as a SINGLE SALARY for a single person?

Come on, crooks. This poll should have been more specific because you know people tend to think of total household income for a family, not single salaries.

You laid a clumsy trap to preach in favor of high property taxes and $100K teacher pay.

I understand what you mean about things getting worse for the middle class and better for the top 1 or 2% and for the corporations. I really do. The middle class has been sold out due to computerization, automation and global labor arbitrage. So the top 1 or 2% and the corporations have gotten out from under in terms of wages, benefits, and pensions and are richer as a result of it and the private sector middle class and working class is poorer. The laws and lawmakers are in the pockets of the corporate royalty.

The saddest thing about this is that the middle and working class is TRAPPED contributing money to the public sector's salaries, benefits that the individuals and families pay very little into, and pensions that they pay very little into.

Do you think it's fair that the middle class/working class in the private sector is hit at both ends? Taken down a notch and forced to pay for things they no longer get for the public sector?

Do you think this is even sustainable in the long term? Do you really think that the middle/working class has endless resources and can keep paying more and more, eventually paying 50% and up of their take home pay for their real estate taxes in the years to come to pay for all the largesse towards the public sector union members?

The world has changed. Do you think the public sector unions never have to man up and live with this because the rest of us will always be able to throw money at them for the rest of their lives? Anyone who thinks so is just plain out of touch.

Honestly LI I didnt think I could phrase it any simpler.

80% of this board thinks a 100k salary is poop for LI. It is what it is.

If you think this is about me championing high taxes, I assure you I'm not. I just pointing out that the Private sector has left us for dead and now were coveting the public sector and killing each other(by design) in the process.

Thats the ruse....not this thread.

Union busting has proven to be synonymous with flat wages for the Middle Class and that trickle down thing was pee pee.

Crooks

[I_Love_LI_but]

Originally Posted by Crookhaven

Honestly LI I didnt think I could phrase it any simpler.

80% of this board thinks 100k is poop for LI. It is what it is.

If you think this is about me championing high taxes, I assure you I'm not. I just pointing out that the Private sector has left us for dead and now were coveting the public sector.

To me it's more like the public sector is coveting raising the property taxes even higher to get more of what's left of the private sector's bank accounts.

It is not fair that the private sector worker has to pay ever-increasing property taxes to provide low-cost comprehensive health insurance for public sector union members and their families (which the private sector has to contribute much more to) and pensions for public sector union members while the private sector gets no pensions. Why do we have to save for the public sector union's retirements when we are already strapped every which way? Why can't the public sector pay for their own retirements like we have to? Do you think we are all made of money? Really? Do you think the money party courtesy of the taxpayers will never end for the public sector union members? I am not that concerned with teacher salaries as I am with the benefits and pensions the taxpayers are saddled with until the union members and their families literally DIE. But the union members don't want anything to change: 1950s style pensions and benefits and 21st century pay ... it is not financially sustainable. Don't you understand that?

[scottzilla]

what percentage of those that voted earn more than 100K??

[Crookhaven]

Originally Posted by scottzilla

what percentage of those that voted earn more than 100K??

Zilla

Ill venture to say most.

+1

[Bacci Balls]

Originally Posted by Crookhaven

70% say nay.

Hmmmmmmmmmmm?

Interesting since everyone's screaming bloody murder about a Teacher with a Masters making 100 grand (but if its a Cop with a GED thats just dandy).


Crooks

I have a Masters....show me where I can work a part time job with summers off and earn over 100K (and free benefits, et al.). Can't? Now you understand my anger towards the UFT. Ruining Long Island since inception and not giving a damn.

[scottzilla]

Originally Posted by Crookhaven

Zilla

Ill venture to say most.

+1

Why?

[BigMike50]

Originally Posted by scottzilla

It's good that people from NC and VA have such a good handle on this.

What does this list have to do with VA and NC It has to do with all 50 states.. It takes into account taxes, unemployment rates and cost of living.

[scottzilla]

Originally Posted by BigMike50

What does this list have to do with VA and NC It has to do with all 50 states.. It takes into account taxes, unemployment rates and cost of living.

TRUE....and how they apply to LONG ISLAND.