Tax Cut Charts and Reality

[5stringJeff]

Darin, I agree, but I wouldn't even want to try to live in downtown Seattle on less than $100K/yr.

$150K/yr... man, even after taxes I would be wiping out a lot of debt really quickly!

 

[freeandfun1]

$150K/yr... man, even after taxes I would be wiping out a lot of debt really quickly!

But would you really consider yourself RICH? I guess it all depends on what your definition of RICH is.

In my opinion, being rich is being able to go where you want, when you want, in the class of travel that you want. It means having the $125,000+ S55 AMG, flying first class (or at least business class) to Europe or Asia for your vacations, staying in five star hotels, and eating out as often as you want while always having a nice bottle of Opus One with your meals., etc.

If after socking away 10% of your gross income toward savings, paying your annual payments on a $250,000 mortgage, health insurance premiums, taxes, etc. you still have $48,000 a year left, that is not RICH, it is comfortable. That family of four cannot afford to fly to Europe in first class (or even business class), stay in a five star hotel, etc. for their vacations. And they probably eat out once a week and they have Kendall Jackson with their meals instead of Opus One.

There is a huge difference between being RICH and being COMFORTABLE.

 

[5stringJeff]

Free, I agree, it depends on your worldview.

I have little desire to fly first class to Europe. Truth be told, I would rather fly coach to Darfur to volunteer my services there, if I was able to do so and keep my family well-fed. If the extra $50-60K per year afforded me the chance to do that, I would consider myself quite fortunate.

 

[freeandfun1]

Free, I agree, it depends on your worldview.

I have little desire to fly first class to Europe. Truth be told, I would rather fly coach to Darfur to volunteer my services there, if I was able to do so and keep my family well-fed. If the extra $50-60K per year afforded me the chance to do that, I would consider myself quite fortunate.

Clearly understood. The lust for money is the downfall of many.