$250,000 a year isn't rich!

[Napoleon]

Yes, Torie, Californians and New Yorkers should have higher cutoffs on the income bracket than say Tennessee. Let the 250kers in Brentwood, TN get soaked instead of Brentwood, California (the LA one).

Probably would sh**t can the housing market in the Sunbelt for good though.

[Napoleon]

My comment was referring  to tying taxes to CoL in general not just for $250k+ earners.

[Napoleon]

Don't know much about TN, was mostly thinking the high growth Southwest that has been booming up until the market crashed.

[Napoleon]

Smoking>eating

Haha the three of us could have a fun sesh

[Napoleon]

Smoking>eating

Haha the three of us could have a fun sesh

Smoking hash > smoking bud > eating (the body high is way too intense)

As for the title, it's true. Making 250 k a year does not make you rich, it makes you upper middle class. That doesn't mean that taxes shouldn't be raised on their bracket though, they could easily afford to be "soaked" and haven't been hit very hard by the recession.

Hash is too much for me. I like walking.

[Napoleon]

Someone on $250,000 a year is certainly rich. Median household income in the U.S is about $50,000. Just for context, you know.

Everyone in America considers themselves to be middle class.

[Napoleon]

Collin County, Texas!  I'd rather live in hell right next door to my pal Mark Twain!

By the way, I really love sbane's ideas. You see, the litigation potential is just so awesome. It's even better than a tax cut - yes it is.  Yummy.

Can you please never write that again... I just had porridge and it almost came back up...

Lol!

[Napoleon]

Collin County, Texas!  I'd rather live in hell right next door to my pal Mark Twain!

By the way, I really love sbane's ideas. You see, the litigation potential is just so awesome. It's even better than a tax cut - yes it is.  Yummy.

Oh god, please don't let that become a staple of your vocabulary like "puppy" and "pubbie".

Too late.

Oh it's a video. How yummy. To try to be "fair" to Perry (and that is damn hard for me to do since I dislike the man so much), I think a possible interpretation is that Bruce was saying Perry was an idiot about the Fed (obviously!), rather than an idiot in general. But maybe not! 

[Napoleon]

It is perfectly fair. Now we are going to subsidize those in desirable living locations? CoL is demand based. You guys are a trip.

[Napoleon]

It would be nice if income taxes factored in cost of living.  The guy making 50k in Alabama paying the same rate as the guy in NYC is just not fair.

That is such an Atlas post that it makes me sick.

What?

I think he is hinting at what I posted at the same time. You don't get a tax break for choosing to live somewhere with a high demand for housing and necessities.

[Napoleon]

Actually even though we have been talking about the people living comfortably in these high cost places, let's talk about the people making 40-50k with a family in these places. Sucks for them doesn't it? I guess they should all just move.

California is a good place to be rich, not middle class. Of course getting the thread back on track,  the Dems are fighting for the richers lol. Money in politics is awesome.

Yes they should. And they are, at least the Whites. They are either moving to the Central Valley or IE or those Southwestern states mentioned earlier. That is how the market works.

[Napoleon]

Actually even though we have been talking about the people living comfortably in these high cost places, let's talk about the people making 40-50k with a family in these places. Sucks for them doesn't it? I guess they should all just move.

California is a good place to be rich, not middle class. Of course getting the thread back on track,  the Dems are fighting for the richers lol. Money in politics is awesome.

Yes they should. And they are, at least the Whites. They are either moving to the Central Valley or IE or those Southwestern states mentioned earlier. That is how the market works.

True, true. And immigrants come in to take their positions who are enjoying a higher standard of living than in their country of origin.

I have a feeling that if Prop 13 was ever overturned, the entire housing market in California, especially Southern California, would just unravel. Lots of renters around....

I also wonder how drastically reducing immigration would impact the housing market in California.

I doubt you will ever find out.

[Napoleon]

I don't understand the notion that, because you're spending a huge amount of money from your much-larger-than-average income, that suddenly means you're no longer rich.

People aren't satisfied with their income unless it greatly exceeds lifestyle expenses, duh.

[Napoleon]

The cost of living might be a bit "unfair", but there are certain cultural, economic, social premiums and amenities that come with those desirable areas that those that live elsewhere do not. Family friend whose a Dermatologist operates two practices. One in Manhatten and one in Fresno, while he could easily afford a mansion in Fresno (he actually makes more money in Fresno) there is something to having the UN walking distance or tons of fine dining options or Broadway shows or Wall Street.

Exactly. There are reasons as to why a location is more expensive than another.