Lol, Typical Trump line of reasoning. Am glad you did not claim foreigners nailed Jesus to the cross.
Guy makes $160,000 and barely making it month to month...
- Thread starter S2007S
- Start date
People don't even know the difference between an effective tax rate and a marginal rate?
$160k income for a married couple & 2 kids and no itemized deductions has an effective federal rate of about 17%. For California the rate is 5.5%. Add medicare & SS, and he'd have around $114k after taxes not $80k.
He has enough to live on and still save $50-60k per year. Cry me a river
$160k income for a married couple & 2 kids and no itemized deductions has an effective federal rate of about 17%. For California the rate is 5.5%. Add medicare & SS, and he'd have around $114k after taxes not $80k.
He has enough to live on and still save $50-60k per year. Cry me a river
But that news would be so boring and won't get published.
That job thing was a very specific response to what Rationalize said "If your job can be done from home, it can be done from India." You know what it was. Don't quote it out of context. And don't pull a Trump thing on people, that gets real old real quick.
All I was stating was just something that worked and still working in a city where its local residents had the same problem as these California residents. A country's own citizens should come first when it comes to owning a home. That's NOT a Trump line that's what all countries believe. If foreigners including those from US of A are not allowed to buy properties in China, foreigners shouldn't be allowed to buy properties in United States if doing so would cause problems for home ownership for local citizens.
At least in the province of BC, foreigners are still being allowed to buy properties; they just have to pay 15% taxes when buying.
No.2 had a whole lot of fun might of only lived to 45 area but hell of a life, no.1 boring smuck why have it if your not going it enjoy it.
Drop your moralistic religous based BS, lifes short enjoy it, make your own rules up or stop wasting oxygen simple as.
First the country's established citizens who own properties want to sell for massive profits or raise prices so they can raise rents, so they encourage foreign owners to come in and bid up prices.
Then they suddenly realise the younger generation cant afford to buy anymore.
Of course this is BS, they knew exactly what they were doing from day 1.
Its all greed and the foreigners should of been taxed hard from day one. Not after prices had risen 500% or more, like closing the doors after the horse already bolted.
remote work is the ideal. you can make the $160k/yr and live anywhere.I'd be asking management for work-from-home position. Then move to small town usa. Then if i'm required to attend face-to-face meetings I'd be on expense account
Listening to a CFP the other day. Some of his clients liver comfortably on $60, others making $200-300k need an equity line to get by.
I would suggest the twitter guy start here...
http://www.mrmoneymustache.com/
Let's just be fair and say the cost of living is expensive, I have a friend who back in the day was able to work a "factory job" and pay his months rent in one week, go find a factory job today and see how many weeks you have to work to afford that same rent....rents and costs of living have been skyrocketing and certainly outpacing incomes the last 25+ years....unless you know how to count money and are aware of your expenses you can get buy comfortably however if you think you can spend wildly and think money lasts forever you will be just scraping by......
I decided to buy vs rent and when looking at my overall expense in owning vs someone renting my exact place, when it just comes to rent I'm saving 40-45% maybe even 50% as rents continue to rise of what someone would rent vs what my mortgage is at the moment....
So in reality I'm saving money owning at the moment vs renting. I don't know how this works out for everyone but it did for me....rents are absolutely ludacris right now along with housing prices ...this is a 1000% sellers market, don't fall for those brokers telling you it's a buyer's market when checking out the open houses in your area this spring...they are lying straight to your face!!!!
So in reality I'm saving money owning at the moment vs renting. I don't know how this works out for everyone but it did for me....rents are absolutely ludacris right now along with housing prices ...this is a 1000% sellers market, don't fall for those brokers telling you it's a buyer's market when checking out the open houses in your area this spring...they are lying straight to your face!!!!