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High Income Earners

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earthfriendly
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High Income Earners

Postby earthfriendly » Tue, 02 May 2017 2:38 am

It is easy for us to judge these high income earners. And assume that they have it all, in terms of $$$. That is why this kind of drill down exercise is important. For whatever reason (job or otherwise), some people just need to live in Manhattan and other expensive cities. And the expenses add up very quickly.


http://www.financialsamurai.com/scrapin ... truggling/

And this comment puts it in perspective. Try taking a family of 4 to Disneyland. Park tickets, car rental, flight, hotel, meal..... . So $6k for family vacation is not that excessive, after all.


Tim says

April 5, 2017 at 6:38 am

As I read the comments I observe that one essential thing is being missed. These high income earners are subsidizing our lower tax rates; essentially bolstering the amounts we don’t pay.
The amounts this sample couple pay in taxes are more than double what I take home in a year, and that fact is the biggest reason I believe they are doing as well as they reasonably can be expected to, given what they have to work with. To criticize them for three vacations a year is somewhat unfair, because as loving parents they are dealing with the guilt of not being around for their kids as much as they’d like to, and these intensive times away help keep the bond going. If they were going into the hole to subsidize their vacations it would be problematic, but that’s not the case. And, as Mr. Wang pointed out, you don’t make that kind of money working just 40 hours a week. You need times away to decompress, and if you can afford it, then go for it.
This article was a fantastic read.
Thanks


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