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Believe it or not, in some parts of the US 500k doesn't get you much.
Hey doc, let's do an experiment. You give me a gift of $500K then I will move to wherever you indicate and find out personally wether or not your theory is accurrate.
I don't live in the USA.
I live in Europe and I am European.
I do have a family to support.
I am damn lucky and fortunate and I count my blessings.
I am more than happy to pay tax and to give away a proportion of my after tax salary to charity because those of us who earn should by rights be expected to support those who are less fortunate.
Very happy to do so to.
Perhaps governments of some other countries are not as corrupt and wasteful as the US government. I think it is easier for the public to keep their eyes on funds when the country is smaller. There may be something to be said of the fall of the USSR being contributed to by the vast size of the union and how unwieldy it is to control such an economy.
I am perfectly to happy to pay more than 50% of my gross salary here in Europe, in tax.
That is the way it should be.
This means that the system that I live in guarantees medical/social service support for those less fortunate.
That is the way a civilised society should be managed.
Very impressive Indurain. We live under the same society, and pay 40% of our taxes to the govt. And we also feel that a civilized society is much better off and are proud that people less fortunate have some benefits. We feel good about that.
It's been asked at what salary level is someone considered rich, and there has been some very interesting insight.
My question is, if a family has a combined income of $300,000 a year, are they considered "rich". Of course everything is relative, but in most parts of the US is this considered wealthy?
While this figure is clearly a large sum, I think it depends how old one is when they earn this kind of money which determines whether or not they are rich. If it's someone in their 30's or even 40's, I would argue that they are affluent (not rich).
But if it's someone in their 50's or 60's (who has yet to pay off their mortgage, drives luxury automobiles, travels extensively, dresses to the nines, enjoys fine wine and food) I would say they are not.
Even though a salary of $300,000 puts one in the top .9% of US income earners, I still do not consider this figure to be "rich". Do you?
depends on what their expenses are. Someone conservative financially could be rich another could be bankrupt
Very impressive Indurain. We live under the same society, and pay 40% of our taxes to the govt. And we also feel that a civilized society is much better off and are proud that people less fortunate have some benefits. We feel good about that.
Depends on your house and car. Your average home and your average car aren't the trappings of the rich. Then again, your idea of "living rich" and my idea of "living rich" probably aren't the same.
My house is 5,000 feet, in the nicest part of my town. I paid 10% more each month on the mortgage which made a 30 year payoff 20 years. All my friends and relatives could have done this but they kept blowing money all their lives and borrowing; speculating in higher interest schemes and now they are broke. They earn far more than I do yet I'm the one who has the cash. I eat anywhere I want to and travel to Europe. Everything I have ever bought was an antique or collectible, in other words, worth what I paid for it or more. My friends have tons of furniture and electronics, all worth 10 cents on the dollar.
This means that the system that I live in guarantees medical/social service support for those less fortunate. That is the way a civilised society should be managed.
You live in a society that values society as a whole. Here in the good ole USA, we live in a society that is still hung up in the fantasy of the rugged individual. It's still a me first society, work the system advantageously, lord your success over everyone less successful, separate yourself from those less fortunate, throw em a few crumbs to keep em from rebelling, but do everything in your power to maintain your economic advantage.
Wealth distribution and socialism are swear words in the minds of many Americans, but Corporate Socialism is blindly accepted. This is a country of the corporate elite, by the corporate elite, and for the corporate elite. Quite astonishingly they have brainwashed many people outside of their elite group into supporting their philosophy. Talk of paying more taxes to help the less fortunate is borderline heresy. Anyone spouting such nonsense is quickly branded as a left wing, liberal wacko.
Last edited by CosmicWizard; 11-16-2009 at 09:18 AM..
This means that the system that I live in guarantees medical/social service support for those less fortunate. That is the way a civilised society should be managed.
You live in a society that values society as a whole. Here in the good ole USA, we live in a society that is still hung up in the fantasy of the rugged individual. It's still a me first society, work the system advantageously, lord your success over everyone less successful, separate yourself from those less fortunate, throw em a few crumbs to keep em from rebelling, but do everything in your power to maintain your economic advantage.
Wealth distribution and socialism are swear words in the minds of many Americans, but Corporate Socialism is blindly accepted. This is a country of the corporate elite, by the corporate elite, and for the corporate elite. Quite astonishingly they have brainwashed many people outside of their elite group into supporting their philosophy. Talk of paying more taxes to help the less fortunate is borderline heresy. Anyone spouting such nonsense is quickly branded as a left wing, liberal wacko.
Over here I think we do live in a culture which values all of society, more.
I sincerely hope that it does stay that way because the model works and has worked for the past 70 years or so.
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