General Discussion

noamnety

(20,234 posts)

37. This is ridiculous.

Tue Jan 1, 2013, 06:15 AM

Jan 2013

Someone making 400k a year is going to have $200-300k take home pay. So they could pay off their entire hypothetical $300k student loan in 2 years, maybe 3, and still have well over what most of us survive on for living expenses during that time. Let's say they delay their home, family, and 401k by two years, then after that they can pocket the extra $200-300 thousand a year, or a million dollars every 4 or 5 years.

Am I supposed to believe that's not living in luxury? Am I supposed to worry about their ability to save for retirement?

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I'm not crazy about the $400,000 limit, but I can live with it. Here's why. [View all] Barack_America Dec 2012 OP

and it's not like they are not paying taxes now, this just means no increase ZRT2209 Dec 2012 #1

poor, poor rich people. Cobalt Violet Dec 2012 #2

No, these are upper middle class. And your attitude is the Leftist version of Union haters who want KittyWampus Dec 2012 #5

Like it or lump it. They are rich! Cobalt Violet Dec 2012 #8

I would say $7,700 a week is pretty much well above even upper middle class WooWooWoo Dec 2012 #13

Until you do the math on what the 1% makes, and the lack of what they had to sacrifice to get it. Barack_America Jan 2013 #23

Upper middle class my ass Demo_Chris Jan 2013 #31

just so you know about investment bankers, .... unblock Dec 2012 #3

i agree. i like 250k but can live with 400k. nt seabeyond Dec 2012 #4

I agree too. Dirty Socialist Dec 2012 #9

I see your point, also how many professionals start at those salaries anyway? white_wolf Dec 2012 #6

Less than that for doctors. nadinbrzezinski Dec 2012 #11

Really? I always assumed being a doctor was "safer" moneywise than being a lawyer. white_wolf Jan 2013 #21

Really nadinbrzezinski Jan 2013 #24

Interesting. Thanks for the link. white_wolf Jan 2013 #25

It varies a lot by specialty nadinbrzezinski Jan 2013 #26

Huh. I'm an MD dropout. Have an MD, not going to practice. The lifestyle is inhumane, imho. Barack_America Jan 2013 #27

Headhunter here - elehhhhna Jan 2013 #45

I also can live with this as well. It's a big pill, but swallowable... Firebrand Gary Dec 2012 #7

It drops another how many hundreds of billions on spending cuts over ten years? HereSince1628 Dec 2012 #10

My husband and I make about $200K combined AnnieBW Dec 2012 #12

I'd rather this be conceeded than anything concerning SS or Medicare bluestateguy Dec 2012 #14

And golly, maybe some of that will Jim Warren Dec 2012 #15

Reminder: if we're talking 400K adjusted gross income, they are probably actually making wiggs Dec 2012 #16

I can live with this for all the reasons you've Ilsa Dec 2012 #17

I have a doctor friend who makes around 400K a year...works 80-90 hrs/wk. Barack_America Jan 2013 #22

Thanks for fine-tuning the rationale Ilsa Jan 2013 #38

same with the medicare part of the deal. doctors, not specialist put in a hell of a lot of hours seabeyond Jan 2013 #42

39% permanent on the 400k + crowd. 55% on Capital Gains. No "entitlement" cuts.... It's not bad - jillan Dec 2012 #18

Capital gains 1KansasDem Jan 2013 #32

I'd like to see a progressive rate on capital gains. Ilsa Jan 2013 #39

I am fine with it--gotta think big picture. TwilightGardener Dec 2012 #19

It isn't horrible gollygee Dec 2012 #20

funny d_r Jan 2013 #28

400K IS the 1%. 250K is the top 2%; 400 is the 1%. At least that's what I heard on NPR tonite. snot Jan 2013 #29

not just beginning salaries: here's averages by region from a 2011 medscape survey. HiPointDem Jan 2013 #35

well jayjayusa Jan 2013 #30

The largest employer in America (Walmart) pays an average of about 17K a year Demo_Chris Jan 2013 #33

most doctors & lawyers don't make that kind of money though. and $300K in student loans HiPointDem Jan 2013 #34

Can YOU get by on only 20,000 a month? I doubt it! Demo_Chris Jan 2013 #36

From this year, average MD debt is $162,000. Barack_America Jan 2013 #41

and median debt is $170K. only 6% of new grads have debt of $300K or more. only 36% of new HiPointDem Jan 2013 #47

This is ridiculous. noamnety Jan 2013 #37

If you could only buy one new million dollar home every few years... (nt) Demo_Chris Jan 2013 #40

Doesn't include malpractice insurance for MDs. About $50K/yr on average. Barack_America Jan 2013 #44

Even with the extra 50K out of their 400K salary noamnety Jan 2013 #46

MOST Doctors don't make $400,000/yr. The average salary is $140,000/yr JaneyVee Jan 2013 #43