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EFFING BREAK! Sure it's not "rich" but $250K in America will still earn you a very comfortable standard of living considering most Americans make FAR less than that. I agree that these people should not be taxed unfairly and the government needs to go after the celebs, athletes, and rich fooks like Bill Gates and CEO of companies who are making millions of millions hand over fist but don't sit there and act like we should feel sorry for those people making $250K when poverty is going up in America. This country is fast becoming a banana republic. Even the rich are too stupid to realize that it seems like.
Even in the third world state of Kaifornia $250K will provide you with an above average standard of living.
Actually, a lot of small business owners have to report business income as personal income on their tax forms. My cousin used to be a small business owner and would report earning 300,000 on his tax forms. He was probably taking home around 40,000. The vast majority of the $300,000 went to taxes, unemployment insurance, health care, workmans comp, and salaries for his employees of course. This is why many small businesses will be forced to lay off if this administration raises the cost of doing business in this country. We don't need to punish those who create the jobs unless we all want to be unemployed. Anyone here ever work for a poor person?
Bull .... corporations are paying no taxes to begin with, and using corporate welfare to fund offshore operations and expansion.
Put up or SHUT UP. Republicans are in bed with big business. They screw the little guy the hardest AND longest. Show me the examples of specific corporations being caught funding offshore operations and explain to me how this matter when we are talking about PERSONAL TAXES and making $250,000.00 or more. And then show me WHO gave them a tax break.
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The story isn't true? Prove it! If the story is true it doesn't matter ...
Oh it's true... and your buddy BUSH is the guilty party!
Baier later added: "Last week, we told you about a similar study in Argentina, where American taxpayers are funding research to find the relationship between alcohol and risky behavior among homosexuals there." As Media Matters for America noted, a headline on The Fox Nation -- Fox News' purportedly bias-free website -- falsely claimed of that study: "Obama Spending $400K to Studying Drinking and Sex Habits of Gays in Argentina." In fact, the article to which The Fox Nation headline linked stated that the Argentina study began in September 2008, and according to NIH, much of the project's funding was allocated before Obama took office. Baier did not note the Bush administration's role in funding the Argentina study.
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Here's your gold medal .... I knew you wouldn't let us down ... I knew someone was going to attempt to explain why it's a good idea for American tax payers to foot the bill for teaching grown men on another continent how to wash their peckers after having sex.
How does this affect our hospitals? They are in AFRICA And why is this MY RESPONSIBILITY to pay for ?
Even though we have BUSH to thank for this, you do realize that people TRAVEL to America from Africa? And that people IN AFRICA may have sex with Americans? Africa is NOTORIOUS for telling their people that AIDS is not from having SEX. IF those countries were not doing such harm to their own people by lying to them about how AIDS is contracted, there would be no need for America to fund this kind of education.
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Again .. an attempt to explain how 2.6 Million American tax payer dollars spent to teach Chinese hookers that it is dangerous to drink too much while selling booty is a good investment?
I happen to know people from China who came here for a better life, so I don't really have a problem studying the effects of alcohol while being forced to sell your body for money by some LOSER MAN who can't get a real job. Whether they study it here, or there (where the Yen goes MUCH farther then the dollar) it doesn't matter. Because it is a HUMAN STUDY case, not an AMERICAN ONLY STUDY.
No true at all. You can have other debt and still easily qualify for a 750k mortgage.
What year would this be going on?
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750k mortgage 30 year fixed at 5% the monthly is barely over $4000. That would only be 20% of your gross income, way under the 28% allowed for mortgage and the 30something (36?) for all debts.
It also doesn't impact whether they are house poor they obviously could have plenty of additional cash flow and the house in relation to their net worth depends on the person, could be high could be low.
It does. Your debt figures into the equation before the "bank" hands you that money.
What makes you and everyone else who believe that after a mortgage is paid there are no other expenses and people who make $250K and over are like the stupid morons who make 50K a year and lease a BMW, wear a $2000 watch and stomp around in red soled high heals?
You might be able to "afford" a $750K mortgage on PAPER, if you're single. Maybe even if you are married with kids and plan on those kids taking out student loans to go to college, rely on pensions for retirement, have no plans to pay for their weddings in any fashion...
I'd be living high on the hog if I put myself before my kids and their futures.
Pool or college tuition? LV bag or 6 months worth of food?
Well of course. Housing is only one example. People making $250K/yr are not waiting for a sale at Wal Mart to buy their kids' back to school clothes.
Says who?
People who don't make $250K?
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To say that $250K is not a healthy income is out of touch with reality.
To assume that everything after a mortgage payment is disposable income (it might be for those who don't take care of themselves and their own in order to avoid the government having to take care of them in the future) is what is out of touch.
I'm not sure what your point was, or why you had to get personal. I, too, live "below my means".
MY point was, people with 400K in income are not "scrimping" by any stretch of the imagination. No matter what they think.
My very close friend is in the $500K range. They own the house prerequisite with hubby's career -- you can't entertain multinational corporate heads in a tract house -- there has to be the appearance of success -- after all, who wants to do business with someone who's personal finances are suspect? Their cars, though, are older 5 yrs plus. She shops at Penneys and such. They enjoy finer things, but everything is a bargain hunt for the best possible deal. She has been seen in WalMart buying things like detergent which are less expensive there than the local supermarket.
They have money and take great pains to save what they have rather than waste it. You could say they scrimp. They're self made from humble starts which makes their success all the more wonderful. I am not at all near them financially, but I certainly wouldn't mind it!
Actually, a lot of small business owners have to report business income as personal income on their tax forms.
Who in their right mind sets up a company where the company's income is filed under the owners personal income tax return? The only income that the owner should be reporting is the income the company pays the owner!
No wonder so many small businesses are going broke!
[quote]My cousin used to be a small business owner and would report earning 300,000 on his tax forms.[quote]
You have to be confused, your cousin was an idiot or you are just making this all up.
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He was probably taking home around 40,000.
If he is taking home $40,000 that should be the sum total of his personal tax liability.
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The vast majority of the $300,000 went to taxes, unemployment insurance, health care, workmans comp, and salaries for his employees of course.
Ah, that means your cousin is making a 13% profit on his business, a lot of major corporations would die to have such profitability!
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We don't need to punish those who create the jobs unless we all want to be unemployed. Anyone here ever work for a poor person?
Who is being punished? Your cousin doesn't even come close to making anything near $250,000 per year! But as you point out in your story, your cousin no longer owns this business so what punishment forced him to lose or sell it?
Actually, a lot of small business owners have to report business income as personal income on their tax forms. My cousin used to be a small business owner and would report earning 300,000 on his tax forms. He was probably taking home around 40,000. The vast majority of the $300,000 went to taxes, unemployment insurance, health care, workmans comp, and salaries for his employees of course. This is why many small businesses will be forced to lay off if this administration raises the cost of doing business in this country. We don't need to punish those who create the jobs unless we all want to be unemployed. Anyone here ever work for a poor person?
I have to ask how your cousin's business and structured; is it a sole proprietorship, S-corporation or full fledge corporation? At least some of the expenses listed can be tax deductable based on how his business is structured.
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And why is this MY RESPONSIBILITY to pay for ? 
