If You Have Trouble Getting by on $50 Million a Year...
Mar 25, 2017 11:35:09 #
You have to feel sorry for the rich. Even with all their income, they still struggle, just like the rest of us. 
http://jalopnik.com/making-50-million-a-year-can-still-feel-average-1793618833
Obviously, the title his article is deceptive. They make $500,000, but he has another chart for $5 million.
http://jalopnik.com/making-50-million-a-year-can-still-feel-average-1793618833
Obviously, the title his article is deceptive. They make $500,000, but he has another chart for $5 million.
Mar 25, 2017 12:05:58 #
I once read how expensive it is to be a movie star. The top stars get a lot of money, but look:
an agent, of course
an address (for entertaining all the right people at great expense)
fabulous clothes (new all the time), perhaps jewelry
personal assistant
personal trainer (physical)
hair stylist, manicurist
accountant/tax consultant
investment counsellor
lawyer
caterer and chef
household staff, gardener, maintenance
money to be seen in the right places, going to the right places, trips
plastic surgeon (not covered even by Obamacare)
lessons in things like how to swordfight, box, wrestle, use accents
security/body guard
A million here, a million there, and before long it adds up to real money. And this does not even count the airplane, yacht, pool, and Maserati--or liquor. The article I read showed how a star making $20,000,000 might end up, after expenses, with a mere $2,000,000.
an agent, of course
an address (for entertaining all the right people at great expense)
fabulous clothes (new all the time), perhaps jewelry
personal assistant
personal trainer (physical)
hair stylist, manicurist
accountant/tax consultant
investment counsellor
lawyer
caterer and chef
household staff, gardener, maintenance
money to be seen in the right places, going to the right places, trips
plastic surgeon (not covered even by Obamacare)
lessons in things like how to swordfight, box, wrestle, use accents
security/body guard
A million here, a million there, and before long it adds up to real money. And this does not even count the airplane, yacht, pool, and Maserati--or liquor. The article I read showed how a star making $20,000,000 might end up, after expenses, with a mere $2,000,000.
Mar 25, 2017 12:55:50 #
Charles 46277 wrote:
I once read how expensive it is to be a movie star... (show quote)
Gee, I ALMOST feel sorry for their choices in life - ALMOST....
Mar 26, 2017 08:10:33 #
Geez, they really have it tough. Let's start a charity for them. We can call it "BUCKS FOR SCHMUCKS"
Mar 26, 2017 09:08:11 #
Charles 46277 wrote:
The article I read showed how a star making $20,000,000 might end up, after expenses, with a mere $2,000,000.
Right, but that's $20 million or more per picture.
Mar 26, 2017 09:51:04 #
Mar 26, 2017 09:55:17 #
jerryc41 wrote:
You have to feel sorry for the rich. Even with all their income, they still struggle, just like the rest of us.
http://jalopnik.com/making-50-million-a-year-can-still-feel-average-1793618833
Obviously, the title his article is deceptive. They make $500,000, but he has another chart for $5 million.
http://jalopnik.com/making-50-million-a-year-can-still-feel-average-1793618833
Obviously, the title his article is deceptive. They make $500,000, but he has another chart for $5 million.
Their income is $500K. with their 401 contribution and 7 k savings that are saving just under 10%. So, they are living a luxurious life style and still putting away 10%. They are doing pretty damn well.
Mar 26, 2017 09:56:51 #
boberic wrote:
Their income is $500K. with their 401 contribution and 7 k savings that are saving just under 10%. So, they are living a luxurious life style and still putting away 10%. They are doing pretty damn well.
They live in a high-income/high-cost city.
Mar 26, 2017 10:49:45 #
Mar 26, 2017 11:05:00 #
boberic wrote:
Their income is $500K. with their 401 contribution and 7 k savings that are saving just under 10%. So, they are living a luxurious life style and still putting away 10%. They are doing pretty damn well.
Great call, Boberic!
Note that there is a stellar chance their employer does a match of sorts to their 401k, so the 36k is probably closer to 50k by itself. Not a lot of folks putting anywhere near that percent away.
Mar 26, 2017 12:04:27 #
Mar 26, 2017 13:55:02 #
Well lets see:
$3500/month for childcare?
Almost $2000/month for food for a family of four? Who plans their meals, Lobsterboy? I feed myself and 4 teens for under $800/month and we eat pretty damn well.
$18,000/year for vacations?
$9,500/year for clothing (nothing fancy)?
I need someone to pay me $500K a year so I can determine if these (and the other figures quoted) are reasonable!
$3500/month for childcare?
Almost $2000/month for food for a family of four? Who plans their meals, Lobsterboy? I feed myself and 4 teens for under $800/month and we eat pretty damn well.
$18,000/year for vacations?
$9,500/year for clothing (nothing fancy)?
I need someone to pay me $500K a year so I can determine if these (and the other figures quoted) are reasonable!
Mar 26, 2017 14:19:57 #
Dngallagher wrote:
Gee, I ALMOST feel sorry for their choices in life - ALMOST....
That does not include the cost of the working girls
Mar 26, 2017 17:47:14 #
The real problem with this group of people is that they don't believe they are in the 1% and believe that are entitled to lower taxes. And they can afford to hire tax professional that can cut there taxes to almost nothing.
I would really like to see a flat tax with no deductions.
I would really like to see a flat tax with no deductions.
Mar 26, 2017 17:54:44 #
philo wrote:
The real problem with this group of people is that they don't believe they are in the 1% and believe that are entitled to lower taxes. And they can afford to hire tax professional that can cut there taxes to almost nothing.
I would really like to see a flat tax with no deductions.
I would really like to see a flat tax with no deductions.
You post is more urban legend and rumor than truth ........ This segment lays an ungodly amount of the income taxes and their effective rate is well above 10%.
The top pays a lot more than their fair share...time for the rest to kick in!
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