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CookiePuss
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Re: Article for those who consider 250K+ rich...
Message edited 2/24/2022 9:19:33 PM.
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Posted 10/27/08 10:59 AM  |
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dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
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Re: Article for those who consider 250K+ rich...
Posted by Luv2bAmom
Posted by Ophelia
Posted by dandr10199
I just wanted to say... if you are a cop, firefighter, or teacher and LOVE what you do, I know you work hard.
Where I personally have issue, is when people are irresponsible with their money and then cry poverty. Then want everyone to bail them out. For example: You cannot afford to pay your mortgage, you are in pre-foreclosure due to taking out a ARM rate mortgage 3 yrs ago, yet you will buy Elmo Live for all three of your kids, lease a new car, and overspend on Christmas gifts to keep up with the Jones'. Then these same people say how those who make over $250K are "lucky". Maybe they are more responsible with money???
I know my thoughts about this will not be popular. I know I am in a minority about curbing spending an living under your means. DH and I decided NOT to "keep up with the Jones" long ago, it was exhausting and went against our values. We are a lot happier with less "stuff" then we were with more "stuff" KWIM? It is hard for me to explain, but I see it on this board all the time...people who cry poverty and then get designer bags or tons of cr@p for their kids. To those of us who are responsible with money, is it infuriating.
this is totally different than what you EARN and what working HARD is.
Exactly.
dandr10199 What you said above I agree with, people should live with in their means.
But the question I think we are debating is ar eyou rich if you make $250K or more, and should you be taxed at a higher rate.
And some I feel have suggested that if you make $250K or more you somehow worked harder than someone who does not, which I highly disagree with.
But what if you invest instead of spend and that brings you over the $250K bracket? Are those people lucky? They made different choices that earned them that $250K...IMHO it is about HOW you CHOOSE to live. So someone who scarified for years and gets to $250K is penalized b/c everyone around them is overspending, not investing and being irresponsible.
Message edited 10/27/2008 11:01:27 AM.
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| Posted 10/27/08 11:00 AM |
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dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
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Re: Article for those who consider 250K+ rich...
Posted by twiceasnice
Posted by dandr10199
I just wanted to say... if you are a cop, firefighter, or teacher and LOVE what you do, I know you work hard.
Where I personally have issue, is when people are irresponsible with their money and then cry poverty. Then want everyone to bail them out. For example: You cannot afford to pay your mortgage, you are in pre-foreclosure due to taking out a ARM rate mortgage 3 yrs ago, yet you will buy Elmo Live for all three of your kids, lease a new car, and overspend on Christmas gifts to keep up with the Jones'. Then these same people say how those who make over $250K are "lucky". Maybe they are more responsible with money???
I know my thoughts about this will not be popular. I know I am in a minority about curbing spending an living under your means. DH and I decided NOT to "keep up with the Jones" long ago, it was exhausting and went against our values. We are a lot happier with less "stuff" then we were with more "stuff" KWIM? It is hard for me to explain, but I see it on this board all the time...people who cry poverty and then get designer bags or tons of cr@p for their kids. To those of us who are responsible with money, is it infuriating.
I agree and I want to add that I feel that people who live above their means (including myself) are victims of society but should not "cry wolf" and place blame because every decision we make is still our own decision and should own up to it.
Thank YOU!!! Finally someone who gets it!
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| Posted 10/27/08 11:02 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Article for those who consider 250K+ rich...
if our govt was truly "dysfunctional" we would be in a HELL of a lot more trouble than we are.
"your" money goves DIRECTLY back to you in so many ways...the comments I read sometimes are shocking.
of course things could be better but money problems are a REAL issue for us.
we are given a budget and we have to STICK to it.
we here about govt spending this and that and pork barrel this and that but it's really such a SMALL amount of your tax dollars...not that it's insignificant but the idea of NOT funding the govt and NOT paying taxes (ie NOT funding the FBI, the US Attn's office, the Secret Service, the Treasury Dept., the dept of HHS) and so many more...all of these entities and the PEOPLE that work for YOU every day...
it's sad.
get involved. become a student of your govt and how it works.
if you think giving money to the govt will make things worse...Imagine what TAKING MONEY AWAY will do.
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| Posted 10/27/08 11:04 AM |
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Luv2bAmom
LIF Adult
Member since 2/08 1255 total posts
Name:
J
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Re: Article for those who consider 250K+ rich...
Posted by dandr10199
Posted by Luv2bAmom
Posted by Ophelia
Posted by dandr10199
I just wanted to say... if you are a cop, firefighter, or teacher and LOVE what you do, I know you work hard.
Where I personally have issue, is when people are irresponsible with their money and then cry poverty. Then want everyone to bail them out. For example: You cannot afford to pay your mortgage, you are in pre-foreclosure due to taking out a ARM rate mortgage 3 yrs ago, yet you will buy Elmo Live for all three of your kids, lease a new car, and overspend on Christmas gifts to keep up with the Jones'. Then these same people say how those who make over $250K are "lucky". Maybe they are more responsible with money???
I know my thoughts about this will not be popular. I know I am in a minority about curbing spending an living under your means. DH and I decided NOT to "keep up with the Jones" long ago, it was exhausting and went against our values. We are a lot happier with less "stuff" then we were with more "stuff" KWIM? It is hard for me to explain, but I see it on this board all the time...people who cry poverty and then get designer bags or tons of cr@p for their kids. To those of us who are responsible with money, is it infuriating.
this is totally different than what you EARN and what working HARD is.
Exactly.
dandr10199 What you said above I agree with, people should live with in their means.
But the question I think we are debating is ar eyou rich if you make $250K or more, and should you be taxed at a higher rate.
And some I feel have suggested that if you make $250K or more you somehow worked harder than someone who does not, which I highly disagree with.
But what if you invest instead of spend and that brings you over the $250K bracket? Are those people lucky? They made different choices that earned them that $250K...IMHO it is about HOW you CHOOSE to live. So someone who scarified for years and gets to $250K is penalized b/c everyone around them is overspending, not investing and being irresponsible.
To be honest the way I read what you are saying is that you think most people are at the $200K threshold and if they just save enough or don't spend too much, they too can be at he $250K level. The reality is that some people are just making it on what they earn and its no where near $250K or $200K.
There are far more people functioning (barely) at the $50K -$90K than the $250K.
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| Posted 10/27/08 11:05 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Article for those who consider 250K+ rich...
Posted by dandr10199
Posted by twiceasnice
Posted by dandr10199
I just wanted to say... if you are a cop, firefighter, or teacher and LOVE what you do, I know you work hard.
Where I personally have issue, is when people are irresponsible with their money and then cry poverty. Then want everyone to bail them out. For example: You cannot afford to pay your mortgage, you are in pre-foreclosure due to taking out a ARM rate mortgage 3 yrs ago, yet you will buy Elmo Live for all three of your kids, lease a new car, and overspend on Christmas gifts to keep up with the Jones'. Then these same people say how those who make over $250K are "lucky". Maybe they are more responsible with money???
I know my thoughts about this will not be popular. I know I am in a minority about curbing spending an living under your means. DH and I decided NOT to "keep up with the Jones" long ago, it was exhausting and went against our values. We are a lot happier with less "stuff" then we were with more "stuff" KWIM? It is hard for me to explain, but I see it on this board all the time...people who cry poverty and then get designer bags or tons of cr@p for their kids. To those of us who are responsible with money, is it infuriating.
I agree and I want to add that I feel that people who live above their means (including myself) are victims of society but should not "cry wolf" and place blame because every decision we make is still our own decision and should own up to it.
Thank YOU!!! Finally someone who gets it!
 I can assure you I "get" it.
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| Posted 10/27/08 11:05 AM |
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metagefken
LIF Adolescent
Member since 5/08 679 total posts
Name:
J
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Re: Article for those who consider 250K+ rich...
Posted by kerrycec03
Posted by shamrock124
Most of us on this board have the ability to make over 250K a year if we wanted to put in the time, effort, energy and make the sacrifices to do so.
i guess you never worked for the federal government. my dh is one of the hardest working people you could ever meet. he has worked for the government for over 30 years. 10-12 hours a day when only required to work 8. he has shown up for work during blizzards and hurricanes. he has gone into work hurt. he has over a year's worth of sick days accumulated because he NEVER takes a day off. he is stuck at a level that only will give him cost of living increases. he hasnt seen a true "raise" in years. he has always worked extra jobs, sometimes 2, 3 or 4 extra. he never has nor will he ever make anywhere near 250K. he has sacrificed plenty over time. he has worked very hard for very long. your statement is insulting.
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| Posted 10/27/08 11:06 AM |
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neenie
Member since 5/05 22351 total posts
Name:
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Re: Article for those who consider 250K+ rich...
Posted by Ophelia
if our govt was truly "dysfunctional" we would be in a HELL of a lot more trouble than we are.
"your" money goves DIRECTLY back to you in so many ways...the comments I read sometimes are shocking.
of course things could be better but money problems are a REAL issue for us.
we are given a budget and we have to STICK to it.
we here about govt spending this and that and pork barrel this and that but it's really such a SMALL amount of your tax dollars...not that it's insignificant but the idea of NOT funding the govt and NOT paying taxes (ie NOT funding the FBI, the US Attn's office, the Secret Service, the Treasury Dept., the dept of HHS) and so many more...all of these entities and the PEOPLE that work for YOU every day...
it's sad.
get involved. become a student of your govt and how it works.
if you think giving money to the govt will make things worse...Imagine what TAKING MONEY AWAY will do.
Who said to take funding away? I think you're mincing words here. No one's saying to cut all taxes, they're saying not to change the brackets for the reasons mentioned. No one is saying to slash all the funding for these programs. I know where my tax dollars go- they go to my DH who also works for the government (and i'm certainly aware of the budget restrictions that they face). I am a student of my government- it's why i feel so strongly about it- just b/c i have a difference of opinions doesn't mean i'm not learn-ed 
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| Posted 10/27/08 11:10 AM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: Article for those who consider 250K+ rich...
[.
Message edited 2/24/2022 9:19:47 PM.
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| Posted 10/27/08 11:13 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Article for those who consider 250K+ rich...
Posted by neenie
Posted by Ophelia
if our govt was truly "dysfunctional" we would be in a HELL of a lot more trouble than we are.
"your" money goves DIRECTLY back to you in so many ways...the comments I read sometimes are shocking.
of course things could be better but money problems are a REAL issue for us.
we are given a budget and we have to STICK to it.
we here about govt spending this and that and pork barrel this and that but it's really such a SMALL amount of your tax dollars...not that it's insignificant but the idea of NOT funding the govt and NOT paying taxes (ie NOT funding the FBI, the US Attn's office, the Secret Service, the Treasury Dept., the dept of HHS) and so many more...all of these entities and the PEOPLE that work for YOU every day...
it's sad.
get involved. become a student of your govt and how it works.
if you think giving money to the govt will make things worse...Imagine what TAKING MONEY AWAY will do.
Who said to take funding away? I think you're mincing words here. No one's saying to cut all taxes, they're saying not to change the brackets for the reasons mentioned. No one is saying to slash all the funding for these programs. I know where my tax dollars go- they go to my DH who also works for the government (and i'm certainly aware of the budget restrictions that they face). I am a student of my government- it's why i feel so strongly about it- just b/c i have a difference of opinions doesn't mean i'm not learn-ed
I wasn't specifically talking about you, NEENIE, or anyone, which is why I didn't quote you.
It was just thoughts that I had AFTER reading your post and a few others.
I think we are ALL mincing words here if you want to call it that.
I do think calling the govt dysfunctional is a bit over the top...but it's like, your opinion, man.
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| Posted 10/27/08 11:13 AM |
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neenie
Member since 5/05 22351 total posts
Name:
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Re: Article for those who consider 250K+ rich...
Posted by Luv2bAmom
To be honest the way I read what you are saying is that you think most people are at the $200K threshold and if they just save enough or don't spend too much, they too can be at he $250K level. The reality is that some people are just making it on what they earn and its no where near $250K or $200K.
There are far more people functioning (barely) at the $50K -$90K than the $250K.
ITA.
Dina- i think i know what you're trying to say, but its really not coming across like that... or is it realistic for so many people. yes, i think many people are fortunate enough to be able to fall into that scenario, but for many, it goes much deeper than that.
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| Posted 10/27/08 11:15 AM |
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neenie
Member since 5/05 22351 total posts
Name:
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Re: Article for those who consider 250K+ rich...
Posted by Ophelia
I wasn't specifically talking about you, NEENIE, or anyone, which is why I didn't quote you.
It was just thoughts that I had AFTER reading your post and a few others.
I think we are ALL mincing words here if you want to call it that.
I do think calling the govt dysfunctional is a bit over the top...but it's like, your opinion, man.
WELL... i invested wisely ($250K, as a matter o' fact) and became sole proprietor of the word "dysfunctional" (it's always been a word i've kept close by my side)... so since you used MY word, I responded accordingly 
I agree... lots of mincing words. I wish both sides could see where the other was coming from. I wish both sides could be less frustrated w/ the other side, but what are ya gonna do. I still think the govt is dysfunctional though. Of course there are people that work hard and try to incite change.. try to make things better... but people who come close to succeeding at that seem to get shot, unfortunately 
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| Posted 10/27/08 11:22 AM |
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mrsej
The cutest!
Member since 1/07 2495 total posts
Name:
Mommy
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Re: Article for those who consider 250K+ rich...
Posted by BabyAvocado
Ugh. Where do I start.
I agree that (depending on where you live) $250k/yr is not necessarily rich.
However, when I read things like this:
distressed by their shrinking portfolios.
I don't have a "portfolio".
Lindsay Mayer and her husband, Zach, a Dallas attorney, feel stretched on $500,000 a year.
STRETCHED? At 500k? You have serious money management issues.
She's saving $800 a month for the children's college fund and $4,000 a month for retirement
That's not even my mortgage payment, bills, savings, etc combined in one month and she can just tuck it away like she doesn't need it.
During that period companies wrested far more productivity from their midlevel employees and were extremely cautious about adding new factory workers, secretaries, or salesmen, a major reason that profits exploded. But it was a great time for executives
But that was ok?
I CANNOT feel sympathy for these people or sudden understanding of their "plight". Instead, they sound profoundly GREEDY to me.
The fact is, it would be nice if we didn't have to raise taxes on anyone. But that's not reality. My understanding is that these so-called "henrys" have been getting tax BREAKS all these years and it's now time that they pay their fair share. I could be wrong about that, and if so, that's fine. If they've been paying their fair share all along, great.
But I can tell you this: right now we are far from making that much money and I consider us living well (no where near rich, not poor, just doing fine - maybe more than fine when compared to some) and making $250k/yr eventually is not unrealistic for us. If it did happen I would EXPECT to be paying more taxes at that level of income.
I don't think it's fair to levy a crushing burden on this income level, and I don't think that's what will happen. But pay a little more? I don't see anything wrong with that.
It's not punishment for success. It comes with the territory.
GREEDY!! Oh my god, I am sorry, I haven't even finished reading the rest of this post and I have to walk away from my computer....
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| Posted 10/27/08 11:25 AM |
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dgtlsunshine
LIF Infant
Member since 12/05 217 total posts
Name:
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Re: Article for those who consider 250K+ rich...
This question is the reason we are in the mess we are in today. We focus too much on income. My parents have always taught me to focus on my expenses.
When you focus on what goes out you see how easy it is with good responsible planning and action for someone to struggle with a 250k income.
This person could have enormous student loans, elderly parents they are taking care of, a child with special needs, medical costs not covered under current medical insurance and the list goes on and on.
What makes people think that someone that was knowledgeable and disciplined enough to be in the situation to make 250k or more would decide to make a bunch of foolish and careless decisions after getting to that point makes no sense.
I work in finance and one of the first things I notice with the haves and haves not are the way they manage and spend their money. I notice folks with money always know where every last dime goes and I mean every last dime. I have done numerous spreadsheets over in my line of work because I knew if I was off by 10 cents I would have hell to pay.
Don't focus on income focus on expenses.
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| Posted 10/27/08 11:25 AM |
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mrswask
Pookie Love
Member since 5/05 20229 total posts
Name:
Michal
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Re: Article for those who consider 250K+ rich...
Posted by Ophelia
Posted by shamrock124
However, a lot of people don't know the amount of work that goes into getting to the level to earn that kind of money. A financial advisor at Morgan Stanley earning 375k has worked harder then most of us have. To get to that level, he had to have worked 6-7 days a week, with many of them 12-13 hour days for years. So, in some ways, they have worked hard then some.
so do people who clean bathrooms, who work in restaurant kitchens, cops, firemen etc.
the definition of what is "hard work" is what I often cringe at.
b/c I don't consider sitting behind a desk wheeling and dealing for 12 hours 6 days a week to be any HARDER than busting your assss on a farm somewhere.
the work is DIFFERENT, and we may place a greater IMPORTANCE on it for whatever reason (personally I feel it's some kind of vanity, but that is neither here nor there) but it is no less hard.
Well said and I agree 100%!!
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| Posted 10/27/08 11:26 AM |
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snowflake08
Love my boys!!!
Member since 8/07 5148 total posts
Name:
Laura
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Re: Article for those who consider 250K+ rich...
I really think everything is relative
Relative to where you live and the cost of living (as others have said)
DH and I make a little under the 200K, and with taxes and his 401K and my 403b; we take home about half of what we make.
Additionally, I have A LOT of student loans; I dont regret having them because I wouldnt have my job without them; but again, everything is relative.
I also must add that DH and I argue about "hard work" all the time. I have a very stressful job where i am MENTALLY exhausted at the end of everyday; whereas DH does physical labor and is PHYSICALLy exhausted. I dont think one is harder than the other; just different.
Message edited 10/27/2008 11:27:35 AM.
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| Posted 10/27/08 11:26 AM |
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HoneyBadger
YourWorstNightmare.
Member since 10/06 15979 total posts
Name:
BahBahBlackJeep
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Re: Article for those who consider 250K+ rich...
Posted by shamrock124
I did say that most of us could CHOOSE a different career path that, with hard work and sacrifice, would put us on the path to making 250k plus.
I really don't understand how on Earth you can keep making this SWEEPING generalization?
How do you KNOW that MOST of US here could CHOOSE a different career path that could pay "US" a salary of (or near) $250K???
You keep saying this like it's a fact when honestly, I think you're WAY out of line.
Sometimes people don't have a choice, they have limitations for one reason or another.
Not to mention, if we all ascribed to your train of thought and got ourselves into becoming a "wealth advisor" at Morgan Stanley we'd be shitting a brick with this economy not to mention it takes alot more than just these types of jobs to make the world go around... Who would be doing them?
The "slackers" who "don't" want to make $250K or more???
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| Posted 10/27/08 11:27 AM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Article for those who consider 250K+ rich...
Posted by neenie
WELL... i invested wisely ($250K, as a matter o' fact) and became sole proprietor of the word "dysfunctional" (it's always been a word i've kept close by my side)... so since you used MY word, I responded accordingly
:
this needs it own small recognition  
Posted by neenie
I agree... lots of mincing words. I wish both sides could see where the other was coming from. I wish both sides could be less frustrated w/ the other side, but what are ya gonna do. I still think the govt is dysfunctional though. Of course there are people that work hard and try to incite change.. try to make things better... but people who come close to succeeding at that seem to get shot, unfortunately
I've been thinking A LOT about this lately.
I think that we all have A LOT more in common and share more common idea(l)s than the discussions on here or this election would lead us all to believe.
somehow, republicans are greedy money hunger hoarders, and democrats are spendthrift bleeding hearts.
I am of the opinion that we are all probably a little bit of both.
I don't believe that ANY of our problems will find their solutions on the far left or far right, but rather a much more moderate medium, which while not too palatable on the fringe will hopefully go down smoother for society in general.
I was actually just reading your post of a few pages back. I didn't want to be a PITA and bump it though, but I thought it was interesting.
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| Posted 10/27/08 11:31 AM |
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dm24angel
Happiness
Member since 5/05 34581 total posts
Name:
Donna
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Re: Article for those who consider 250K+ rich...
I cant, I cant even begin to argue some of the points here.
We have as a country been doomed to be the have and have not's and our own attitudes and ignorance has caused this ( both sides)....
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| Posted 10/27/08 11:32 AM |
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Kidsaplenty
Sister love
Member since 2/06 5971 total posts
Name:
Stephanie
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Re: Article for those who consider 250K+ rich...
Honestly, I think this is all ridiculous. How on earth can you complain about making 250,000 a year? One couple in the article feel stretched at 500k? *** IS WRONG WITH THEM?!?!?
If I made that much money you would hear no complaints from me, even if they wanted 200k a year in taxes.
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| Posted 10/27/08 11:36 AM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: Article for those who consider 250K+ rich...
Message edited 2/24/2022 9:19:25 PM.
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| Posted 10/27/08 11:37 AM |
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mrsej
The cutest!
Member since 1/07 2495 total posts
Name:
Mommy
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Re: Article for those who consider 250K+ rich...
Posted by greeneyes361708
Honestly, I think this is all ridiculous. How on earth can you complain about making 250,000 a year? One couple in the article feel stretched at 500k? *** IS WRONG WITH THEM?!?!?
If I made that much money you would hear no complaints from me, even if they wanted 200k a year in taxes.
they are not complaining about making that - just complaining about that segment of the population facing the highest tax increase in history. read the article
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| Posted 10/27/08 11:40 AM |
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Chatham-Chick
*********************
Member since 5/05 10311 total posts
Name:
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Re: Article for those who consider 250K+ rich...
Posted by greeneyes361708
Honestly, I think this is all ridiculous. How on earth can you complain about making 250,000 a year? One couple in the article feel stretched at 500k? *** IS WRONG WITH THEM?!?!?
If I made that much money you would hear no complaints from me, even if they wanted 200k a year in taxes.
I think your view might possibly change if you were making 250K or more a year. Chances are, your expense structure would change considerably and you wouldn't necessarily be living the life of luxury like you would think.
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| Posted 10/27/08 11:40 AM |
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mrsej
The cutest!
Member since 1/07 2495 total posts
Name:
Mommy
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Re: Article for those who consider 250K+ rich...
ITA - I had posted a few weeks back about my DH who had no money and worked his *** off to support his family and make something of himself and his brother who went a totally different direction. They both made choices and when people tell my DH that not everybody has choices, my DH wants to explode. While my DH's road to get to where he is was full, full of obstacles, there was still a road and it was his choice to go down that road.
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| Posted 10/27/08 11:43 AM |
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dandr10199
Grace is growing up too fast!
Member since 10/05 11561 total posts
Name:
Dina
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Re: Article for those who consider 250K+ rich...
Posted by Luv2bAmom
Posted by dandr10199
Posted by Luv2bAmom
Posted by Ophelia
Posted by dandr10199
I just wanted to say... if you are a cop, firefighter, or teacher and LOVE what you do, I know you work hard.
Where I personally have issue, is when people are irresponsible with their money and then cry poverty. Then want everyone to bail them out. For example: You cannot afford to pay your mortgage, you are in pre-foreclosure due to taking out a ARM rate mortgage 3 yrs ago, yet you will buy Elmo Live for all three of your kids, lease a new car, and overspend on Christmas gifts to keep up with the Jones'. Then these same people say how those who make over $250K are "lucky". Maybe they are more responsible with money???
I know my thoughts about this will not be popular. I know I am in a minority about curbing spending an living under your means. DH and I decided NOT to "keep up with the Jones" long ago, it was exhausting and went against our values. We are a lot happier with less "stuff" then we were with more "stuff" KWIM? It is hard for me to explain, but I see it on this board all the time...people who cry poverty and then get designer bags or tons of cr@p for their kids. To those of us who are responsible with money, is it infuriating.
this is totally different than what you EARN and what working HARD is.
Exactly.
dandr10199 What you said above I agree with, people should live with in their means.
But the question I think we are debating is ar eyou rich if you make $250K or more, and should you be taxed at a higher rate.
And some I feel have suggested that if you make $250K or more you somehow worked harder than someone who does not, which I highly disagree with.
But what if you invest instead of spend and that brings you over the $250K bracket? Are those people lucky? They made different choices that earned them that $250K...IMHO it is about HOW you CHOOSE to live. So someone who scarified for years and gets to $250K is penalized b/c everyone around them is overspending, not investing and being irresponsible.
To be honest the way I read what you are saying is that you think most people are at the $200K threshold and if they just save enough or don't spend too much, they too can be at he $250K level. The reality is that some people are just making it on what they earn and its no where near $250K or $200K.
There are far more people functioning (barely) at the $50K -$90K than the $250K.
Not what I meant at all. I was using those numbers as an example, albeit a bad example. dgtlsunshine expressed what I was trying to say so much better than I did.
Posted by dgtlsunshine
This question is the reason we are in the mess we are in today. We focus too much on income. My parents have always taught me to focus on my expenses.
When you focus on what goes out you see how easy it is with good responsible planning and action for someone to struggle with a 250k income.
This person could have enormous student loans, elderly parents they are taking care of, a child with special needs, medical costs not covered under current medical insurance and the list goes on and on.
What makes people think that someone that was knowledgeable and disciplined enough to be in the situation to make 250k or more would decide to make a bunch of foolish and careless decisions after getting to that point makes no sense.
I work in finance and one of the first things I notice with the haves and haves not are the way they manage and spend their money. I notice folks with money always know where every last dime goes and I mean every last dime. I have done numerous spreadsheets over in my line of work because I knew if I was off by 10 cents I would have hell to pay.
Don't focus on income focus on expenses.
GREAT POST!!!! You said what I was trying to say but had a hard time putting my feelings into words, thank you.
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| Posted 10/27/08 11:44 AM |
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