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I am someone complaining and I DO make over $250,000 a year. I DO NOT consider $40k the "average" income - I know basic laborers with no education making that and more. And, I would not say that I am doing "VERY well". I find it very hard to believe that only 2% of americans are making over $250k a year....more like only 2% are making over $1m.
You don't have to believe it, but it's true. This was discussed thoroughly on another thread and links posted. You may do a search.
Personally, I think you're all nuts. I make $15,000/year. In my wildest dreams I expect to make $50-60K after college. That's plenty enough for me. I think the "American Dream" has gotten a little out of hand. A nice comfortable living is all anyone should expect. To want more is just greed. There are a finite amount of resources in the world. Maybe, just maybe, if everyone wasn't so concerned about themselves, things would be better. C'mon, if you make $200-$250K per year, I have no sympathy for you whatsoever if you get taxed a little more. God forbid you won't be able to buy that new 2011 Hummer. Can't navigate the suburban winding streets without a $50K SUV?
You may not, but factual information says otherwise.
Quote:
Originally Posted by stayinformed40
I find it very hard to believe that only 2% of americans are making over $250k a year....more like only 2% are making over $1m.
It is factual, why do you think Obama keeps mentioning extending tax cuts to "98% of americans" Making $250k or more means you are making over 6 times the amount of the average american, the top 2%
I am someone complaining and I DO make over $250,000 a year. I DO NOT consider $40k the "average" income - I know basic laborers with no education making that and more. And, I would not say that I am doing "VERY well". I find it very hard to believe that only 2% of americans are making over $250k a year....more like only 2% are making over $1m.
According to the Tax Foundation, in 2008 the top 1% had an AGI of over $380,354 and the top 5% was at $159,819
According to the U.S. Census, 1.9% of all households earn more than $250,000 annually. To view the table, click on Income Distribution to $250,000 or More for Households: 2007.
Personally, I think you're all nuts. I make $15,000/year. In my wildest dreams I expect to make $50-60K after college. That's plenty enough for me. I think the "American Dream" has gotten a little out of hand. A nice comfortable living is all anyone should expect. To want more is just greed. There are a finite amount of resources in the world. Maybe, just maybe, if everyone wasn't so concerned about themselves, things would be better. C'mon, if you make $200-$250K per year, I have no sympathy for you whatsoever if you get taxed a little more. God forbid you won't be able to buy that new 2011 Hummer. Can't navigate the suburban winding streets without a $50K SUV?
Estimated median house or condo value in 2008 (Duluth, MN): $157,400 (it was $80,700 in 2000)
Estimated median house/condo value in 2008 (West Windsor, NJ): $763,764
I have to be able to afford a house. That's why I want to make more than you. I hope this changes your perception.
The most important decision you have to make is whether you want to be a millionaire or just look like one.
And as far as how long it takes to accumulate a million dollars in assets, I speak from experience when I tell you that it can happen in a lot less than twenty years with an income much lower than $200k.
You do have a choice about where to live, and allow me to suggest that NJ is not a particularly wise choice if you want to be wealthy. Think I can't possibly understand? Check my username. I absolutely do.
Last edited by formercalifornian; 11-22-2010 at 07:11 PM..
The most important decision you have to make is whether you want to be a millionaire or just look like one.
And as far as how long it takes to accumulate a million dollars in assets, I speak from experience when I tell you that it can happen in a lot less than twenty years with an income much lower than $200k.
I agree... it's much more expensive to look like a millionare than be one.
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