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Old 02-16-2017, 05:44 AM
 
Location: Riverside Ca
22,146 posts, read 33,250,209 times
Reputation: 35433

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Quote:
Originally Posted by MiloYiannopoulos4Prez View Post
A simple comment and a message to the OP and similar "hate the rich" posters:

I cannot afford to live in a wealthy OC area like Newport Beach and I never will be able to afford it. But I don't hate the people who live there just because they live better than I do in material terms.

Stop hating people who have done better than you (financially). A lot of anger in this thread is driven by envy. Learn to appreciate all aspects of life, not just the material. If you want to be very wealthy, get educated, work day and night at a profession that pays well, make connections with successful people, and pass your wealth and values down to the next generation so they can pick up where you left off.

You're absolutely right. But it's so much easier to hate and complain about how it's "unfair" than it is to save, sacrifice and be focused on goals not to only make them but achieve them. There are reasons that I don't tell people at work my financial means. If I did the envy/jealousy and the "unfairness" would immediately start.

Btw great post. I wish I could rep you more
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Old 02-16-2017, 05:51 AM
 
Location: Riverside Ca
22,146 posts, read 33,250,209 times
Reputation: 35433
Quote:
Originally Posted by k374 View Post
a lot people are professionals earning $100-200k, so that's $200-400k as a couple.. then these people have made tremendous gains on real estate (hundreds of thousands since '08-12) and the stock market has tripled since 2008 and at this rate will quadruple shortly so it's easy to see how everyone here is feeling rich. In addition OC probably has a disproportionate number of entrepreneurs and consultants with business income so they get to exploit the system to the core and not pay very much in tax. I know a fellow Engineer who was a consultant and made $180,000/yr and paid something like 10% overall tax.. he used to writeoff everything including virtually all the food he consumed when we met.
Nobody is exploiting anything. Our tax code allows certain things. Hell dude I take deductions/write offs whenever I can get them. And why shouldn't I? It's not illegal.
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Old 02-16-2017, 10:05 AM
 
Location: Downtown Los Angeles, CA
1,886 posts, read 2,082,402 times
Reputation: 2249
Basing my opinion on the frequency which wealth OC'ers are featured on American Greed, 100% of wealthy OC'ers are on top of a ponzi scheme.





[Seriously though, watch the show. It's comical how often OC comes up]
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Old 02-16-2017, 12:28 PM
 
64 posts, read 50,282 times
Reputation: 50
Quote:
Originally Posted by Electrician4you View Post
Nobody is exploiting anything. Our tax code allows certain things. Hell dude I take deductions/write offs whenever I can get them. And why shouldn't I? It's not illegal.
He can't do it. So it's not "fair."
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Old 02-16-2017, 01:24 PM
 
18,172 posts, read 16,260,447 times
Reputation: 9325
Quote:
Originally Posted by The OC View Post
He can't do it. So it's not "fair."
I know, I sold my CA home bought a new one out of State, paying cash and ... lost my mortgage deduction. Oh nuts I gave it up to have no mortgage payment.

Oh, now I can sell that home and with all the money I saved not being in CA, it will now allow me to move back and buy a home in SoCal with .... cash.
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Old 02-16-2017, 02:43 PM
 
126 posts, read 206,435 times
Reputation: 243
Quote:
Originally Posted by k374 View Post
a lot people are professionals earning $100-200k, so that's $200-400k as a couple.. then these people have made tremendous gains on real estate (hundreds of thousands since '08-12) and the stock market has tripled since 2008 and at this rate will quadruple shortly so it's easy to see how everyone here is feeling rich. In addition OC probably has a disproportionate number of entrepreneurs and consultants with business income so they get to exploit the system to the core and not pay very much in tax. I know a fellow Engineer who was a consultant and made $180,000/yr and paid something like 10% overall tax.. he used to writeoff everything including virtually all the food he consumed when we met.
I have my own business. I too take advantage of the write-offs / deductions. BUT if you are planning to buy a house, taking off too much will lower your income and you won't qualify for a loan. But that shouldn't matter if you making $$$ and can pay cash.

However, on paper, a person making 200k and taking a bunch of write-off, the AGI will be a lot lower than 200k. So on paper, their income is what 30k? lol

Also, you run the risk of getting audited.
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Old 02-16-2017, 02:44 PM
 
126 posts, read 206,435 times
Reputation: 243
Quote:
Originally Posted by expatCA View Post
I know, I sold my CA home bought a new one out of State, paying cash and ... lost my mortgage deduction. Oh nuts I gave it up to have no mortgage payment.

Oh, now I can sell that home and with all the money I saved not being in CA, it will now allow me to move back and buy a home in SoCal with .... cash.
CA doesn't need more people. Stay where you are thank you!
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Old 02-16-2017, 04:51 PM
 
64 posts, read 50,282 times
Reputation: 50
Quote:
Originally Posted by expatCA View Post
I know, I sold my CA home bought a new one out of State, paying cash and ... lost my mortgage deduction. Oh nuts I gave it up to have no mortgage payment.

Oh, now I can sell that home and with all the money I saved not being in CA, it will now allow me to move back and buy a home in SoCal with .... cash.
Yeah if you actually get up the gumption to move back
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Old 02-16-2017, 07:15 PM
 
5,381 posts, read 8,641,509 times
Reputation: 4550
Quote:
Originally Posted by SoCalCroozer View Post
I'm from the midwest (St. Louis) and lived 7 years in Colorado. I've seen my fair share of wealth and rich people. But having lived two years here in the "OC" and hanging out in Newport, Laguna, Coto, etc. and driving around Nellie Gail and so many other wealthy subdivisions it's sickening how wealthy people are here compared to the rest of the country. I mean what the hell does everyone do around here to justify this wealth and standard of living? Is everyone a doctor, lawyer, business owner, super professional? Some of you wonder why OC and CA in general has such a bad rap well think about it.............the average Californian or more specifically the average Orange Countian is so far out of touch with mainstream America it's laughable. I mean some of the people out here live like gluttons. The gap between the haves and the have nots is most apparent in a county like Orange that's for sure. I've never seen so many BMW's, Mercedes, Maseratis, Ferraris, Bentleys etc. The funny thing is this state is bankrupt. LMAO! It's quite ironic. There are many things I love about Southern California and south Orange County is a very nice place to live. But there are WAY too many out of touch wealthy snobs out here.

There's nothing like watching an OCian out washing their beautiful car or better yet having it detailed by some Mexican teenager all the while wondering to myself when the hell it's going to rain again. After all OC uses more water than any other county in Southern California! Yall are some funny people out here!
There certainly is a lot of wealth in OC (So what?), but plenty of people here and in LA are struggling to meet their mortgage or rent payments.

Is your house payment gobbling up 43% of your income? Compare Orange County with other U.S. cities - The Orange County Register

"Mortgage payments are gobbling up the biggest slice of homeowners' income since 2010, a report by online real estate tracker Zillow says.

In the Los Angeles/Orange County metropolitan region, homebuyers in Q4 2016 could expect to spend 43 percent of their monthly income on mortgage payments, according to the report."

SoCal is nice, but I swear I don't understand why most people who fork out 43 percent of their income don't just move to a more affordable area. There are extenuating circumstances for some, but whoa! Still, it's not for me to decide. To each his own.
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Old 02-16-2017, 07:25 PM
 
174 posts, read 205,670 times
Reputation: 115
I met some guy in California and he just kept saying he should move away. I was in California and it really wasn't all that great anyway.
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