They'd probably have their mortgage paid off anyway, so $180k per year even in NYC would be luxurious.
Meh, I kind of think that it would be nice if retired people could stay where they are, stay close to their families, stay with all their friends, in the community they've spent their whole lives in.
//wipes tear from corner of eye
They'd probably have their mortgage paid off anyway, so $180k per year even in NYC would be luxurious.
That's because the middle class is filled with lazy benefit scroungers that haven't done a days work in their life. Maybe if they got off the couch and did some honest hard work, they wouldn't be in this despicable rut where they're starving to death.
:hmm:
I dont make that much money. Too Bad. My heart bleeds for them. Do they know the average income in the USA is like $47k?
No one in that infographic is making $180k. The lowest earning is the retired couple pulling $180k after $25k deductions. In other words, they're making $205k. Ignoring that, $180k minus their $22k federal income tax liability leaves them with only $157k per year, or $13k per month. If that's "barely middle class" then the term 'middle class' has lost all meaning.
You have no idea what you're talking about. The median family income in San Francisco was ~101K in 2014, one of the most expensive cities in the country.
http://www.deptofnumbers.com/income/california/san-francisco/
wut?
or do you mean it's basically upper class in all major cities?
because it is.
Now, how people choose to live with/waste their vast amounts of endlessly disposable income is on them, not their wages.
^^ The uninformed. I'm not talking about a greater metro area (including every suburb within 50 miles), which is what your stats include.
^^ The uninformed. I'm not talking about a greater metro area (including every suburb within 50 miles), which is what your stats include.
They mention the estate tax too.
$5M. That affects very few people, but even those who'll never see a $1M estate will still be vocal about it because they're told it's a bad thing.Lawmakers retained the $5 million individual exemption for gift and estate taxes and kept it indexed for inflation, while raising the tax rate to 40% from 35%about the best outcome many could have hoped for.
This is the risk of eliminating or drastically reducing it: Human beings are horrible when it comes to using power responsibly. Something like this takes you closer to things like royal families or indefinite dynasties."Without the estate tax, you in effect will have an aristocracy of the wealthy, which means you pass down the ability to command the resources of the nation based on heredity rather than merit," Democrat Jared Polis of Colorado said, quoting billionaire Warren Buffett. "America is and should be a meritocracy."
Hi. I'm going to hamstring Democrats by taking away their filibuster-proof majority in the Senate and putting GOP in charge of the House and then complain that they share equal blame when nothing gets fixed. All because I believed that when the GOP told me that the ACA was the worst piece of legislation ever crafted they weren't lying through their teeth.Fortunately I don't see your posts unless my login times out.
The above is a prime example why that is. I simply stated some facts. You chose, perhaps rightfully, to assume that the left / Democrats are to blame for that.
That's a failing of your well-known one-dimensional thinking.
There are plenty of people pissed off about having not only their real income go down, as I noted, but also the amount of taxes they pay go up. They're pissed off that the poor now outnumber the middle class. Most of them no longer care how it happened, it is rightfully the fault of current establishment politicians on both sides who have enacted policies to the detriment of the people they are supposed to represent.
Which is why you have both Trump and Sanders. Their overwhelming levels of support is a complete rejection of establishment policies and politics, rejection of globalization, and big money politics.
It's a situation that will only get worse, and people will get more pissed off, if it's allowed to continue.
I'm sure you still don't get it.
CNBC quote:
Middle-class Americans are now outnumbered by those above and below them and are "falling behind financially, ...
If Republicans ever get their way the middle class won't have to be worried about being outnumbered for too long. Why? Because they will keep losing financial ground, join the poor and together they will eventually outnumber the rich.
At that point at least they won't have to worry about falling behind any more! :thumbsup:
These slides have to be a part of a bigger presentation. I cannot believe anyone would be so stupid with these "middle class" incomes.