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(CNN)   IRS says that $370,000 in adjusted gross income will now put you into the top 1%. Quickest way to the bottom 1% still remains having $370,000 invested in Facebook stock   (money.cnn.com) divider line 6
    More: Interesting, adjusted gross income, IRS, left-wing politics, Occupy Wall Street, Economic Policy Institute, consumer price index  
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1062 clicks; posted to Business » on 22 Nov 2012 at 10:46 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-11-22 11:20:53 AM
2 votes:

hinten: Salaried employee ≠ wealth
no matter how high the salary is.

But watch someone in this thread to claim otherwise.



IF you are making a salary that allows you to pay all of your living expenses: insurance, mortgage, food, utilities, a couple of cars including fuel, and a couple of thousand in pocket money, and still have more money left over at the end of each month than a family with a median income would earn altogether and you are NOT gaining wealth, there is something wrong with your brain that all of the money in the world could not fix!
2012-11-22 09:31:52 AM
2 votes:
Top 1% of income is not the top 1% of wealth. Wealth is what we ought to be taxing.
2012-11-22 05:28:37 PM
1 votes:

Teresaol31: hinten: Salaried employee ≠ wealth
no matter how high the salary is.

But watch someone in this thread to claim otherwise.


IF you are making a salary that allows you to pay all of your living expenses: insurance, mortgage, food, utilities, a couple of cars including fuel, and a couple of thousand in pocket money, and still have more money left over at the end of each month than a family with a median income would earn altogether and you are NOT gaining wealth, there is something wrong with your brain that all of the money in the world could not fix!


Wealthy people laugh at your stupidity. Not in your face but behind your back.
If you have to receive a salary, you are not wealthy.
Class warfare is not one class revolting against another. Class warfare is one class playing two other classes against each other.
2012-11-22 01:19:21 PM
1 votes:

wildlifer: Father_Jack: in case you're interested to know where you are in the % rankings, here's a handy chart:
http://en.wikipedia.org/wiki/Household_income_in_the_United_States

i'd also really like to see charts like this weighted by state.

coz, well, frankly, 6 figure jobs on the coasts are not really THAAAAAAT hard to get and the money doesnt go very far in certain areas. I bet a guy with a 60k income in Dayton Ohio has a nicer house than the guy who makes 100k in Los Angeles (unless the LA commutes from super far away) or the guy making 125k in manhattan where he still lives in a crappy apt. in Brooklyn for 2500 a month.

the trick is to do what a friend of mine did: made his career and name as a unix admin in San Francisco getting SF sal of 120 or whatever, then gradually got to work remotely more and more till he eventually was permanntly off site, moved to arkansas and lives more or less like a 1% in Lafayette. While i would never want to live in arkansas its still an interesting example of successful arbitrage if ever there was one.

Lower Arkansas? Too close to coon asses.
The cost of living is low here in Arkansas. It's our little secret.
Taxes are high, which is bad.


Wrong.

The FINANCIAL cost of living in Arkansas may be low, but the ACTUAL cost of living in Arkansas is almost catastrophic when you consider the fact that you're living in goddamn Arkansas.

/lives in Florida
//does not live within earshot of banjo country
2012-11-22 11:43:32 AM
1 votes:

sammyk: Marcus Aurelius: Top 1% of income is not the top 1% of wealth. Wealth is what we ought to be taxing.

We do tax wealth. It's called an estate tax and it is an entirely different discussion.


Real Estate taxes and auto license taxes in some states (where the tax is based on the value of the car) are taxes on wealth.
2012-11-22 11:08:01 AM
1 votes:

Marcus Aurelius: Top 1% of income is not the top 1% of wealth. Wealth is what we ought to be taxing.


We do tax wealth. It's called an estate tax and it is an entirely different discussion.
 
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