Is $75,000 considered "high income"? (pay, rent, taxes, rates)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Several of the government stimulus programs exclude single individuals making more than 75,000/yr. Now, I ask, is $75,000/yr for a single person considered a "high income"?
Here in Los Angeles I would think $200,000/yr single or $350,000/yr for couples and above would be high income, anything less is middle class. Do you agree?
Several of the government stimulus programs exclude single individuals making more than 75,000/yr. Now, I ask, is $75,000/yr for a single person considered a "high income"?
Here in Los Angeles I would think $200,000/yr single or $350,000/yr for couples and above would be high income, anything less is middle class. Do you agree?
Taxpayers from high cost states ALWAYS get the short end of the stick with those stimulus packages, income tax rates, etc. One good thing about being out of Calif is that I feel like when they make those income levels, they have taxpayers like me in mind. although, the stimulus is still just a big joke and an excuse to redistribute some of my hard earned tax money to nonworking ppl and ppl with too many kids.
Gross income is irrelevant... disposable income is more relevant...
Exactly!
If you earn $75k/year and live your life debt free, only buy the basics, and live well within your means you may be pretty well off....maybe even considered wealthy in some circles.
If you earn $75k/year, spend $50k/year paying off debt and otherwise live outside your means then you are dead broke, my friend.
The same could be said if you made double...triple....whatever.... You aren't wealthy if at the end of the month you are still dead broke.
well, this is exactly my point. I know people who earn $60,000/yr here in LA but bought their houses 10 yrs ago, they have mortgages half of what someone making $80,000/yr may be paying in rent PLUS they have equity in their homes from the astronomical appreciation over the last few years. Now, how can the guy making $80k not get a stimulus check yet the guy making $60,000 gets it when in fact he has a much higher net worth?
Also, the guy making $80k as a single is much less wealthier than a 2-person household making $145k/yr...yet the $145k/yr couple gets the stimulus but the guy making $80k gets nothing.
Here in Los Angeles I would think $200,000/yr single or $350,000/yr for couples and above would be high income, anything less is middle class. Do you agree?
"Here in Los Angeles" should be irrelevant to the equation. If it's too expensive in Los Angeles, it's time to move to Redlands, to Columbus, or to Omaha. I just don't think we should be propping up a system whereby people living in overly-expensive places should receive different treatment than everyone else. It's in the nation's best interest that those who can't afford to live in one place move elsewhere. You can argue that those who live in these costlier places receive higher salaries and pay more in income taxes; I'm just not going to buy that this justifies altering the way they're treated.
In spreading the workforce across the country, we maximize our savings ratio, spread industry across the country, and have far more stable housing markets.
The GDP per capita in the US is about $43,000. $75k is nearly double that. Seems like a reasonable limit to me.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
