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Old 03-09-2012, 09:12 PM
 
70 posts, read 46,220 times
Reputation: 28

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Quote:
Originally Posted by kidyankee764 View Post
I can see you don't have experience living in an area with uber-expensive housing.
Why wouldn't you just...move?
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Old 03-09-2012, 09:27 PM
 
1,203 posts, read 1,813,566 times
Reputation: 1206
Quote:
Originally Posted by RA73 View Post
Now-let's talk about the "250K" threshhold. I don't mind paying the taxes I pay. They are relatively high in nominal terms because it's a relatively expensive area compared to the rest of the country. I concede that. What I DON'T like is being told that I am somehow "rich" or "wealthy" or free to be targeted as a member of some mythically advantaged "2%" when it comes to somebody's political agenda. My wife and I are NOT rich, and we are NOT wealthy-I don't care how you slice it-assets, after-tax pay, home value. That judgment has to be taken in the context of where you live.
Dude, you're in the top 2%, as you admit. If that doesn't qualify as wealthy, I don't know what does.

Don't worry, most people won't confuse the super-rich like Bill Gates, Warren Buffett, etc. with a family earning $250k, but you ARE wealthy by US standards. It's just a simple mathematical fact.
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Old 03-09-2012, 09:50 PM
 
21,621 posts, read 31,215,012 times
Reputation: 9776
Quote:
Originally Posted by Deeds468 View Post
Why wouldn't you just...move?
A little easier said than done, my friend.

Quote:
Originally Posted by Bruins_Fan View Post
Dude, you're in the top 2%, as you admit. If that doesn't qualify as wealthy, I don't know what does.

Don't worry, most people won't confuse the super-rich like Bill Gates, Warren Buffett, etc. with a family earning $250k, but you ARE wealthy by US standards. It's just a simple mathematical fact.
Mathematical if you go by the US average. If you look at much of CT, 250k does NOT put you in the top 2%.

Why can't people understand the simple fact that it depends on your location.
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Old 03-09-2012, 09:58 PM
 
10 posts, read 13,024 times
Reputation: 26
The average income for a family household in Fairfield County is $77,690. If you look at Greenwich, it climbs to $168,779.

So 250k in Fairfield County might not put you in the 2%. However, the majority of people in this country are never going to make anywhere near that amount, so that is where the contention arises.

Article that addresses OPs concerns: http://money.msn.com/tax-planning/do...cal-times.aspx

Last edited by globetrotter29; 03-09-2012 at 10:11 PM..
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Old 03-09-2012, 10:05 PM
 
70 posts, read 46,220 times
Reputation: 28
Quote:
Originally Posted by kidyankee764 View Post
A little easier said than done, my friend
My humble family of serfs making MUCH MUCH less than that did it! Multiple times, in fact. This conversation is reprehensible.

If you have the gall to open your mouth and complain about money being tight at two hundred and fifty thousand dollars a year...just...damn.
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Old 03-09-2012, 10:08 PM
 
1,203 posts, read 1,813,566 times
Reputation: 1206
Quote:
Originally Posted by kidyankee764 View Post
Mathematical if you go by the US average. If you look at much of CT, 250k does NOT put you in the top 2%.

Why can't people understand the simple fact that it depends on your location.
Well, you can narrow the location down to whatever you want, but it's not really valid to say someone is not wealthy because they live in a certain city. My wife and I earn over $100k, but way less than $250k. We're still in the top 10% or so. So while we save almost nothing living in the expensive Boston suburbs, we're still fairly well-off by US standards.
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Old 03-10-2012, 05:03 AM
 
3,350 posts, read 4,170,064 times
Reputation: 1946
The top 5% I believe to be "wealthy" and in Fairfield county that requires $850,000 of income. 250,000 is actually not even top quartile. It is above median but this exercise seems to reveal the weaknesses of measures of average. Here is the census data supporting my claim.
America's Most Unequal Cities - Forbes.com
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Old 03-10-2012, 07:18 AM
 
21,621 posts, read 31,215,012 times
Reputation: 9776
Quote:
Originally Posted by Wilton2ParkAve View Post
The top 5% I believe to be "wealthy" and in Fairfield county that requires $850,000 of income. 250,000 is actually not even top quartile. It is above median but this exercise seems to reveal the weaknesses of measures of average. Here is the census data supporting my claim.
America's Most Unequal Cities - Forbes.com
Another post of reason.
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Old 03-10-2012, 07:21 AM
 
21,621 posts, read 31,215,012 times
Reputation: 9776
Quote:
Originally Posted by globetrotter29 View Post
The average income for a family household in Fairfield County is $77,690. If you look at Greenwich, it climbs to $168,779.

So 250k in Fairfield County might not put you in the 2%. However, the majority of people in this country are never going to make anywhere near that amount, so that is where the contention arises.

Article that addresses OPs concerns: Down and out on $250,000 a year? - 1 - income & taxes - MSN Money
And the majority of people don't have to spend $1m for a modest home...

...get my point?

According to the article Wilton2 posted, if you make a whopping $400k a year in Fairfield County, you're not even in the top 20%!
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Old 03-10-2012, 10:00 AM
 
Location: New London County, CT
8,949 posts, read 12,138,894 times
Reputation: 5145
Quote:
Originally Posted by kidyankee764 View Post
And the majority of people don't have to spend $1m for a modest home...

...get my point?

According to the article Wilton2 posted, if you make a whopping $400k a year in Fairfield County, you're not even in the top 20%!
Wow. All of a sudden I feel poor-- My partner and I live very comfortably in Westport on a lot less than 400K.

Maybe some of you should take the advice you lather so copiously on the poor: If you can't afford to support kids don't have them!
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