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$250k barely enough to get by!

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El_Tino On August 10, 2020
booyaka!





Albuquerque, New Mexico
#1New Post! Nov 14, 2012 @ 08:28:51
Oh this is hilarious

"It’s no surprise that working couples in big cities are struggling to raise children while paying off mortgages and student debt. What is surprising is that they’re lumped in with the so-called “wealthy” if they jointly earn $250,000 a year."

"The bottom line: It’s not exactly easy street for our $250,000-a-year family, especially when they live in high-tax areas on either coast. "

"Some of the expenses incurred by couples like the Joneses may seem lavish — such as $5,000 on a housecleaner, a $1,200 annual dry cleaning tab and $4,000 on kids’ activities. But when both parents are working, it becomes nearly impossible to maintain the home, care for the kids and dress for their professional jobs without a big outlay."

"After covering taxes and only essential expenses for housing, groceries, child care, clothing, transportation, and the dog, the Joneses would still be in the red by $1,787 in Huntington."

Is $250,000 a Year Rich? Let's Break It Down


A few of the annual necessities
- A $750,000 house near the best school.
- $5,000 for house cleaning
- $2,600 for gasoline tax (not sure how that works out, my wife and I spend less than that on gasoline alone in the past year).


So their hypothetical scenario leaves $175k after taxes, minus $50k mortgage is $125k.

How on earth do you spend $125k on "essentials" only including "groceries, childcare, clothing, transportation & the dog". Oh right, I forgot the $34k put in the IRA, which is almost as much as what the typical family earns to begin with!


Damn, let's play this game with the couple earning $1m. Let's say they pay $400k in taxes, then they're only left with $600k.
- Elite private preschool for the kids: $100k
- House in a "decent" neighborhood: $150k
- Personal chef: $100k
- Chauffer/Transportation: $75k
- Nanny: $100k
- Gardener: $30k
- Travel/clothing: $70k

Holy crap after just the essentials of childcare, food, clothing and housing there's not even any left over to save for retirement even with such a seemingly large income as $1m.
Tar On April 28, 2014




San Antonio, Texas
#2New Post! Nov 14, 2012 @ 09:51:48
@El_Tino Said

Oh this is hilarious

"It’s no surprise that working couples in big cities are struggling to raise children while paying off mortgages and student debt. What is surprising is that they’re lumped in with the so-called “wealthy” if they jointly earn $250,000 a year."

"The bottom line: It’s not exactly easy street for our $250,000-a-year family, especially when they live in high-tax areas on either coast. "

"Some of the expenses incurred by couples like the Joneses may seem lavish — such as $5,000 on a housecleaner, a $1,200 annual dry cleaning tab and $4,000 on kids’ activities. But when both parents are working, it becomes nearly impossible to maintain the home, care for the kids and dress for their professional jobs without a big outlay."

"After covering taxes and only essential expenses for housing, groceries, child care, clothing, transportation, and the dog, the Joneses would still be in the red by $1,787 in Huntington."

Is $250,000 a Year Rich? Let's Break It Down


A few of the annual necessities
- A $750,000 house near the best school.
- $5,000 for house cleaning
- $2,600 for gasoline tax (not sure how that works out, my wife and I spend less than that on gasoline alone in the past year).


So their hypothetical scenario leaves $175k after taxes, minus $50k mortgage is $125k.

How on earth do you spend $125k on "essentials" only including "groceries, childcare, clothing, transportation & the dog". Oh right, I forgot the $34k put in the IRA, which is almost as much as what the typical family earns to begin with!


Damn, let's play this game with the couple earning $1m. Let's say they pay $400k in taxes, then they're only left with $600k.
- Elite private preschool for the kids: $100k
- House in a "decent" neighborhood: $150k
- Personal chef: $100k
- Chauffer/Transportation: $75k
- Nanny: $100k
- Gardener: $30k
- Travel/clothing: $70k

Holy crap after just the essentials of childcare, food, clothing and housing there's not even any left over to save for retirement even with such a seemingly large income as $1m.


lolz, isn't this cognitive dissonance or something? Maybe its something simpler. Maybe its just shear stupidity.

but remember, it happens at all levels. There are people who claim that they find it hard to make a living at 75K a year, yet they drive BMWs, have the latest Ipod/Iphone, flat screen TV, gaming system, etc.

People in general have their priorities all f***ed up. Its just that the richer you get, the more idiotic it becomes.
LuckyCharms On July 31, 2021
Magically Delicious





,
#3New Post! Nov 14, 2012 @ 12:29:30
Well perhaps they should live within their means. Like the rest of us poor slobs.
Grasshopper On November 06, 2017
Just me.





Fort Collins, Colorado
#4New Post! Nov 14, 2012 @ 15:01:55
What about annual cost for one that makes about $14,000/year?

Lot rent in manufactured home: $5,400/year
Utilities: $2,000
Food: $2,400
Car insurance to drive YOURSELF around: $1,800

Cleaning your own stinkin' home: Priceless.

Total of $11,600.
El_Tino On August 10, 2020
booyaka!





Albuquerque, New Mexico
#5New Post! Nov 14, 2012 @ 20:28:35
Yeah it must be cognitive dissonance After all, it is twice the median income of the richest county in America
DorkySupergirl On November 02, 2017




, Canada
#6New Post! Nov 14, 2012 @ 20:36:53
@El_Tino Said

Yeah it must be cognitive dissonance After all, it is twice the median income of the richest county in America



Tino, you have forgotten the motto. It takes a lot of money to buy the s*** we don't need.
Glenn On January 10, 2013
Average Jet Pilot


Deleted
Banned



Meridian, Mississippi
#7New Post! Nov 15, 2012 @ 02:27:30
@El_Tino Said

Oh this is hilarious

"It’s no surprise that working couples in big cities are struggling to raise children while paying off mortgages and student debt. What is surprising is that they’re lumped in with the so-called “wealthy” if they jointly earn $250,000 a year."

"The bottom line: It’s not exactly easy street for our $250,000-a-year family, especially when they live in high-tax areas on either coast. "

"Some of the expenses incurred by couples like the Joneses may seem lavish — such as $5,000 on a housecleaner, a $1,200 annual dry cleaning tab and $4,000 on kids’ activities. But when both parents are working, it becomes nearly impossible to maintain the home, care for the kids and dress for their professional jobs without a big outlay."

"After covering taxes and only essential expenses for housing, groceries, child care, clothing, transportation, and the dog, the Joneses would still be in the red by $1,787 in Huntington."

Is $250,000 a Year Rich? Let's Break It Down


A few of the annual necessities
- A $750,000 house near the best school.
- $5,000 for house cleaning
- $2,600 for gasoline tax (not sure how that works out, my wife and I spend less than that on gasoline alone in the past year).


So their hypothetical scenario leaves $175k after taxes, minus $50k mortgage is $125k.

How on earth do you spend $125k on "essentials" only including "groceries, childcare, clothing, transportation & the dog". Oh right, I forgot the $34k put in the IRA, which is almost as much as what the typical family earns to begin with!


Damn, let's play this game with the couple earning $1m. Let's say they pay $400k in taxes, then they're only left with $600k.
- Elite private preschool for the kids: $100k
- House in a "decent" neighborhood: $150k
- Personal chef: $100k
- Chauffer/Transportation: $75k
- Nanny: $100k
- Gardener: $30k
- Travel/clothing: $70k

Holy crap after just the essentials of childcare, food, clothing and housing there's not even any left over to save for retirement even with such a seemingly large income as $1m.


and sure Tino...if you tax him more he has to fire the preschool teacher, the chauffeur, the nanny, the gardner, the travel agent and the clothier...who will now get his money without doing nothing at all.

It is the perfect crime!
boobagins On August 03, 2013
SPICY HOT TAMALES





Astral Weeks, Florida
#8New Post! Nov 15, 2012 @ 02:30:29
Meh, I can easily put them in the 15% tax bracket
El_Tino On August 10, 2020
booyaka!





Albuquerque, New Mexico
#9New Post! Nov 15, 2012 @ 06:34:40
@Glenn Said

and sure Tino...if you tax him more he has to fire the preschool teacher, the chauffeur, the nanny, the gardner, the travel agent and the clothier...who will now get his money without doing nothing at all.

It is the perfect crime!



Not. If his taxes go to the Clinton rate he might pay $25k more in taxes and not splurge on that birthday party. His tax rate won't be 100% And who uses a travel agent anymore, what is this 1985?
Leon On November 16, 2022




San Diego, California
#10New Post! Nov 15, 2012 @ 06:45:23
I make $50,000 a year, and will probably never reach $100,000 in my lifetime (in today's dollars), yet I am debt free, happy, and living in a good neighborhood in California.

I think somebody needs to re-audit his priorities or take an arithmetic course...
El_Tino On August 10, 2020
booyaka!





Albuquerque, New Mexico
#11New Post! Nov 15, 2012 @ 06:50:03
No way Leon, you must be living in the ghetto. Any house under $1m without a guard in a gated neighborhood is for the poors.
Leon On November 16, 2022




San Diego, California
#12New Post! Nov 15, 2012 @ 07:12:11
@El_Tino Said

No way Leon, you must be living in the ghetto. Any house under $1m without a guard in a gated neighborhood is for the poors.


Then I guess the ghetto isn't really all that bad after all. Nice quiet neighborhood, great view of the Pacific Ocean, good malls nearby...

f***, we don't even need guards and gates here.
Glenn On January 10, 2013
Average Jet Pilot


Deleted
Banned



Meridian, Mississippi
#13New Post! Nov 15, 2012 @ 11:34:06
@El_Tino Said

Not. If his taxes go to the Clinton rate he might pay $25k more in taxes and not splurge on that birthday party. His tax rate won't be 100% And who uses a travel agent anymore, what is this 1985?


So now you are deciding that he doesn't need a travel agent. What's next are you gonna tell him his tooth brush is too expensive?

Y'all crack me up. It is as if you and the government have taken it upon yourselves to determine WHAT A PESON NEEDS...OR BETTER YET WHAT THEY SHOILD WANT!

I can see it now a "1985" tax.

Anyone who spends money like it is 1985 shall be taxed an extra 4.75%.

Anyone who hires a travel agent to book a trip shall be tax an extra 3.25%.

Which will "tariff" the travel agent out of business and he will go on infinite unemployment.

And now the travel agent no longer has a job and the extra tax money from the rich guy goes right into the unemployed travel agents pocket...for doing nothing at all.

Absolutely brilliant. Legal theft ... the absolute perfect crime!

Why didn't I think of it?
boxerdc On December 18, 2012

Deleted



,
#14New Post! Nov 15, 2012 @ 12:42:01
@El_Tino Said

His tax rate won't be 100% And who uses a travel agent anymore, what is this 1985?


Every federal government agency has travel agents on staff to book their trips.

But it's more an oversight position, as they're given pretty strict dollar amounts and they can't exceed them without being audited.

I used to f*** the travel agent for the Secretary of Agriculture, and he wasn't allowed to spend more than $200 a night on hotels and food, even in places like New York and San Francisco. When he would go to places like Boise, the stipend was more like $100 a night.

The upside is that I got tons of free weekend trips for the services I provided.
Glenn On January 10, 2013
Average Jet Pilot


Deleted
Banned



Meridian, Mississippi
#15New Post! Nov 15, 2012 @ 12:50:05
And one more thing El Tino. I have noticed that the majority of your moderators are pretty liberal.

Where is the love?

How about a little diversity and promote some more conservative moderators!

Anyway...even with the well placed complaints...I love your show!
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