Brilliant $250,000+ income earners

Hows the job search going zantabak1111?

 

it is relevant because we have a progressive income tax. majority will get a tax cut and some will pay more. if it is irrelevant then why are you bring up your own situation?

you just answered your own question. by taxing corporations more, won't it force the corporations to be efficient and not to waste money?

 

The system we live in today is a reflection of decisions that were made, at singular points of time themselves, historically, right? So yes, we can consider the current system to be a "sunk cost", but should we not also at least keep in mind a bigger picture of not only how do we fix the current, immediate need, but also the system in general, if we believe it broken.

I'm not disagreeing with you on anything really, just pointing out it may be a little foolhardy to ignore bigger picture issues...

 

According to your profile your one year younger than me. I'm 25.

 

OK, I look at it like this. Say you have an aunt that has health problems and needs money to help her get by. Say your cousin lives near by and is taking care of her but could use $20 a week to help out. Now, if you found out that your cousin cashed your check for your aunt every week and on the way to give it to her he spent $5 to fill his car(I mean he had to drive to cash the check right?) and $5 for some lunch(mans gotta eat right?) and $2 for a 40(cashing checks makes you thirsty right?). Now your aunt gets $8 out of $20. That is not very efficient, and you would find a better way to help your aunt. Giving your cousin more money in hopes that more will get to your aunt is not the solution.

 

Sam, you really are an idiot (leaving aside for a moment how you increased my income by 100k from the first to the last paragraphs in your post).

first, the average price of an NYC apartment is actually $1.6M. and, as you may know, a mortgage of over $650k or so is a Super Jumbo Mortgage, and requires a significantly higher down payment, typically north of 30%, or roughly $500k, which you seem to believe one could save in one good year.

but you also forget that I'm also an employer, and in addition to salary, also pay insurance and payroll taxes for my employee, we can peg those expenses at ~$50k/year. So, in addition to the very high taxes I pay now, and those I pay for our babysitter, and her salary, you want me to save half a million dollars in order to overpay for a small 2 bedroom apartment, go in debt for $1M, all so Obama can continue to artificially inflate the housing market and continue to reward irresponsible behavior?

 

Look at me...

 

Wouldn't these costs be deducted from your earnings. Earnings before taxes (EBT) would be lower due to these expenses. Hence, these expenses wouldn't change regardless of which tax plan we have?

 

By my post talking about raising children? That's what made it clear? Ok, basso.

I thought I was being friendly in that post talking about home ownership with you. You seemed to have been offended.

It's cool that you can divine so much in a post about children.

 

Yeah, I increase the income because that's the income that would be subject to the marginal rate, hence the term marginal - that's the subject of the thread, genius. 400k for a family in a high tax area is the boundary line for net tax increases due to AMT relief.

Your wife (who according to your post, is apparently quitting her job this year, despite the fact that the expiration of the tax cuts aren't phased in for two years ) would contribute the hypothetical extra 100k - on which you would pay a whopping extra 3K per annum- apparently the differnce between living in a cardboard box or living in a $2 million luxury coop in your universe.

That's the AVERAGE price of a Manhattan apt, which includes ultra luxury hedgefund playboy pads that skew it wildly north - I know this because I've been looking. 1 million goes pretty far in Sutton Place, UES, etc....and it's only going to go farther. But yeah high cost of living in Manahattan = Obama's plan's fault, LMFAO.

LOL - so wait, you haven't saved up enough for your down payment yet? Then STFU already... $3000 in extra taxes isn't going to get you there, Trump.

Further, it casts severe doubt about your purported income. Finally, nothing in Obama's plan (I'm willing to bet the proportion of people receiving assistance in $2million Manhattan co-ops under his plan is incredibly small) is going to change that, certainly not the marginal rate increase on your hypothetical extra income.

So you don't have any money saved up for a down payment - what exactly do you spend your money on since you're taking home a half million a year?

WHy don't we jsut solve this and you can tell us what you make, so we can determine what the quantifiable impact on you is?

The scenario that you have painted thus far is this.

1. You rent an apartment on the UWS (renting is normally the domain of the non-rich)

2. You claim to have a substantial level of income in the mid six figures, so much so that your wife quit her job in 2009 in preparation for 2011 tax cut phase out, where the extra few 1000$ in marginal taxes willl somehow prove crippling.

3. You claim to have very little savings despite your considerable income, and need to save $500,000 fast.

4. You would find a monthly mortgage payment in the 5-6000 range to be economically unfathomable despite your pretax income being about 75-100 times that number.

This is almost as ridiculous as something zantabak has conjured up.

Taken together these factors make you into either somebody who is terrible at managing money, or somebody who is lying on a BBS.

If you're a victim, prove it. You have not done so.

If not, shut up about how you're a victim.

 

Unless you are in the top 2% of small businesses you will save in taxes or won't see a tax increase.

 

Are you still regurgitating talking points from Obama's campaign? Link?

 

Why insult people like this?

For the record, FrachiseBlade and Major are good posters. Just because they are Democrats doesn't make them morons or ignorant. They have good reasons for believing what they do, and they make good points. There is nothing wrong with having differing points of views. It's when you insult people for having differing views, and constantly overexaggerate and say things that are completely false that you lose credibility.

 

what a silly little man you are. the point is, even if one had your hypothetical $200k in cash ready to plop down on a $1M 2 bed/1bath apt, said apartment is still ridiculously over priced, and $200k isn't a big enough down payment.

now, the price of the apt isn't obama's fault today, but he's refusing to let the market work, and the apt. fall to what should be a more natural price.

and the refusal to do something, anything, about the bad assets that banks continue to hold, bad assets that are largely a direct outgrowth of his and his allies policies wrt Fan/Fred, means that I can't, if i were so inclined, indulge in the same bad behavior as some many others.

instead, i must behave responsibly, and remain priced out of the market.

let the muther****er work muther****er.

 

It has become obvious that you are priced out because you don't have sufficient income or savings to be priced in - Obama did not do this to you.

Rather is is your own failure as a wage-earner to do so.

Why don't you pull yourself up by your bootstraps and work harder and start making some money instead of whining about how the government isn't doing enough to help you afford a giant expensive Manhattan apartment?

 

Thanks. I think there are those of us on both sides who know we can debate with one another and disagree. I think the good thing about posters like you, refman, and others like major is that the wacky ones won't be thrown off by folks Zan, or whoever. Honestly it causes me no pain.

 

You just don't know what you are talking about basso. Right now in NYC, people are so desperate to sell an apartment, that you only need to put 10% down. So you would only need a $100 grand. Are apartments overpriced in NYC? That's debateable...because NYC isn't like the rest of the nation, it's an international city where every rich person on earth wants to own a piece of property - even as just an investment. I know tons of people who buy places and don't live here but just then turn around and rent it.

These are the people who price you out of the market, not Obama...particularly when the dollar was crappy. A lot of people buy property as a ways to get into the country too - or at least pre-9/11. Not sure about now.

Also, you don't need to make $250K to buy a million dollar place. That's pretty amazing...you can actually get it done with about $150K depending on how extravagantly you live.

But to put it this way, I am in the market for buying a place and I don't make that kind of money or anywhere near it. You either aren't looking hard enough or you are trying to buy property on Park Ave. Manhattan is a big island. You can get 1,000 st feet now at about $750K in manhattan. Yes you have to bargin, yes you need to be aggressive - buy it's possible. That's about as good as a price you will have found in the city in the last 5 years.

But I think it will go down further. So I am still waiting. But don't tell me obama is proping up prices by helping people avoid foreclosure. Geez man, that's just dumb even by your standards.

 

as usual, you have it precisely backwards. i would say bass-ackwards, but that's probably racist now.

 

Of course zatabak1111 states that he has a house in Tanglewood and a high paying job. His profile states that he is in Boston and unemployed after losing his job at Wachovia.

Hmmmm....

 

We finally agree on something.

You have not told the truth about a single thing in your life. You wither lied in these threads or in your profile.

What a moron.