tornadospotter;94251 wrote:
Barack Obama’s
tax plan, laid out by advisers
Austan Goolsbee and
Jason Furman in the Wall Street Journal in mid-August, promises to improve the nation’s fiscal standing by scaling back tax cuts for people making more than $250,000. Since then, the business pundit class has been griping that people who make $250,000 a year aren’t really wealthy, …snip…
Long article, but the short of it is this, the disparity between how far your money will go comes down to taxes and the cost of putting a roof over your head.
I make a pretty good sum of money (over 100K), but I live in California, I simply cannot afford to own a home here, The most I could afford according to the bank is 400K. Well guess what, not too many of those houses out here and when they are on the books, people are buying them up to resell them.
Now, if I were able to make 100K in Missouri? well that is a horse of a different color, but again, it is not because a gallon of milk costs that much less, or even a gallon of gasoline, it is simply the cost of a home.
What is the answer. I don’t know, if I did, I would be in public office or something. I would have to say that whatever salary we pay our top elected officials should equal to someone being rich.