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by bscphil
1918 days ago
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Even assuming this is true ($6k a month sounds absurd), this is a bad argument. The old "rent should cost no more than one third of your income" rule is basically for people around the poverty line. For them it's a question of whether they can afford to eat that month. Just to give an extreme example: if Jeff Bezos uses half his income this year to build the largest estate the world has ever seen, he's still sitting pretty on the rest of it and has the largest estate the world has ever seen. At a 35% tax rate, your take home income is $156K. At $6K per month ($72K/yr), you have $84K left over after rent. If this is you then YOU ARE WEALTHY. There is simply no getting around this. You are making more alone, after taxes and after rent than my partner and I have ever made together total in a year in our lives, and we live in a city with a relatively expensive rental market and are not "poor". The absurd talk about "only" making over two hundred thousand dollars a year (plus whatever your partner makes if you have one) needs to stop. It's so out of touch with the norm in virtually every city in the world that it would be laughable if it weren't kind of sad. |
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People taking in $200k are not in any sense "very, very wealthy", except from a third-world viewpoint. $200k in today's dollars approaches what would have been called "middle class" a few decades ago, when there was one. Now you are only low, below $300k, and high, above $1M, with very few left between.
(In countries with regular health care and education, life costs less, so this about the US.)
The plutocrats have been very successful at deceiving American voters that they are not almost all now lower-class. The Powell Memorandum, 50 years ago, laid out the plan. It has been followed since then, and Americans now are routinely persuaded to vote against their own interests.
Wealth produced in the US has been rising as fast since 1975 as it did between 1945 and 1975, but normal Americans' income since 1975 has been flat. The whole difference has gone straight into the pockets of the extreme rich, and they are who are very, very rich. You and I have no concept of how different their lives are.
In 1975, regular parents could pay for putt their kids through college while paying their mortgage.