[allannienhuis]

and assuming 100% utilization you can make about 172k a month billing at $1000/hr...

You can plug in whatever numbers you like into any formula you like, but it doesn't help most developers earn more.

The reality is that most devs can't charge those rates and get significant amounts of work, because they don't have the required skills / experience / reputation, etc needed to distinguish themselves from the competition and attract clients that are willing to pay those rates. Obviously in some geographies it's easier than others because of supply/demand forces, but the vast majority of developers can't do this easily.

I think the real question being asked in most cases when people ask how it's possible to earn incomes like that, is what can they do to be ABLE to earn those types of rates. More helpful answers would be advice on what niches pay well and are in high demand, how to market themselves, etc.