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George H.W. oval office posted:I'm the school teacher husband with a fortune 50 wife as a consultant I know corporations are people now but still, marrying a fortune 50 is quite a catch
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Mar 25, 2017 21:47
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ohgodwhat posted:I know corporations are people now but still, marrying a fortune 50 is quite a catch please don't doxx me and my wife
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Mar 25, 2017 21:50
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Doc Hawkins posted:I'm the janitor and elevator technician couple pulling in half a mill combined. He's referring to a specific guy who was using the overtime and seniority system at BART to make a killing on overtime. It looks like he loves to find these kind of random niche cases in order to say 'Look, this isn't a lot of money, this janitor can make it!' while basically ignoring how exceptional they are. I mean sure, there is always a chance that you will be the person to make it big and become a celebrity, but that doesn't mean that being an independent musician can be considered a high-paying job, it's much more likely you'll be one of the millions that just squeak by for years on local gigs and a collection of part-time work.
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Mar 25, 2017 21:54
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Having to settle on a week's vacation to debt-laden Puerto Rico 
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Mar 25, 2017 22:03
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Our priorities are a little different, but we do still manage to allocate all of it. If anything their car payments seem a little low.
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Mar 25, 2017 22:37
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And only three times a year, that's not even once per season. Can't you see how these people with all the luxuries they could want and a maxed out 401k are just barely surviving?
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Mar 25, 2017 22:38
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We are fortunate to spend less than 1/3 of that on childcare, food is less than half of it, our total housing is less than a quarter of that, we spend a lot more than they do on cars and transport lol. We also spend vastly more on debt than they do, they're fortunate not to have student loans.
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Mar 25, 2017 22:49
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EAT FASTER!!!!!! posted:We are fortunate to spend less than 1/3 of that on childcare, food is less than half of it, our total housing is less than a quarter of that, we spend a lot more than they do on cars and transport lol. We also spend vastly more on debt than they do, they're fortunate not to have student loans. Guillotine. Hey buddy how's it going?
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Mar 25, 2017 22:52
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Eat the rich...er people than myself. So like if they get miserable 2% pay raises every year and pay off those student loans, keep the kids' costs stable, and don't buy a horse - that $7k leftover each year is going to be something like $140k each year midway through President Pence's 2nd term.
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Mar 25, 2017 23:00
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Do you think the $500,000/year couple would describe themselves as "wealthy" or "middle class"? 
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Mar 26, 2017 00:32
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monster on a stick posted:It may be 40% marginal top, but there's no way it's 40% effective. Nail Rat posted:Holy hell I missed that. This guy doesn't understand how taxes work. Droo posted:Assuming they pay both NY and NYC tax that alone is about $45k (I'm not really sure if you pay both though). On top of that they pay about $105k in federal tax, plus another $9500 in employee medicare tax and $14500 in employee social security tax, so that adds up to $174k by my estimate, so about 35% effective. Sounds more like you don't understand how AMT works. This hypothetical couple is pretty much in the sweet spot (right amount of income, high state/city taxes, lots of deductions) to get a really high AMT bill. Plus they also have a significant marriage penalty as two high-but-equal income earners. Ashcans posted:He's referring to a specific guy who was using the overtime and seniority system at BART to make a killing on overtime. Or just flat out committing fraud: http://www.sfgate.com/bayarea/article/BART-janitor-pay-270000-Powell-St-questions-10911932.php
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Mar 26, 2017 00:40
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blah_blah posted:
Not sure why people keep posting this. The guy working seventeen hours took two and a half hours worth of breaks. Percentage wise thats comparable or lower than what most white collar workers take off on any given day. It seems completely reasonable unless you think blue collar workers don't deserve breaks and not at all fraud.
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Mar 26, 2017 00:50
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pr0zac posted:Not sure why people keep posting this. Perhaps you read the anecdote that the train station wasn't spotless though 
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Mar 26, 2017 00:51
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pr0zac posted:Not sure why people keep posting this. My main argument against this guy is that it's horrible mismanagement to require or even allow a single employee to work that much. They must be critically understaffed.
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Mar 26, 2017 00:58
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WampaLord posted:GWM: sell your horses to this guy:  This was awhile ago, but I found the perfect followup image.
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Mar 26, 2017 01:24
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blah_blah posted:Sounds more like you don't understand how AMT works. This hypothetical couple is pretty much in the sweet spot (right amount of income, high state/city taxes, lots of deductions) to get a really high AMT bill. Plus they also have a significant marriage penalty as two high-but-equal income earners. As I already stated, my number included about $13k of AMT. And I didn't even include their charitable stuff before, so it's actually lower. pre:Salary 1 $250,000.00 Salary 2 $250,000.00 Husband 401K ($18,000.00) Wife 401K ($18,000.00) TOTAL REGULAR INCOME $464,000.00 TOTAL 15% INCOME $0.00 TOTAL ADJUSTMENTS $0.00 Husband Personal Deduction $0.00 Wife Personal Deduction $0.00 Property Tax ($20,000.00) Mortgage Interest (estimate) ($50,000.00) NY City Tax (estimate) ($45,000.00) Charity ($18,000.00) Kid 1 Deduction $0.00 Kid 2 Deduction $0.00 TOTAL DEDUCTIONS ($128,419.00) Adjusted Gross Income $464,000.00 Federal Taxable Income $335,581.00 Total Investment Income $0.00 Total Wage Income (medicare) $500,000.00 Federal Income Tax $86,154.73 Business Social Security Tax $0.00 Business Medicare Tax $0.00 Medicare Surtax $2,250.00 Net Investment Income Tax $0.00 AMT Tax $14,188.53 Federal Tax I Owe $102,593.26 AMT Income (to calc exemption) $396,000.00 AMT My Exemption $24,324.08 AMT Taxable Income $371,675.92 AMT Tax Amount $100,343.26
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Mar 26, 2017 01:32
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Doc Hawkins posted:I'm the janitor and elevator technician couple pulling in half a mill combined. So how much was elevator college anyway? 200k?
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Mar 26, 2017 01:50
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oRenj9 posted:So how much was elevator college anyway? 200k? It can go up or down from there
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Mar 26, 2017 02:06
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Residency Evil posted:Guillotine. I'm gonna need you to buy a Golf R and then convince me to buy a Golf R, thanks!
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Mar 26, 2017 02:08
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pr0zac posted:Not sure why people keep posting this. Classism. Salaried workers in white-collar jobs with college degrees don't believe blue-collar employees in fields like maintenance or custodial work should outearn them even when they're working literal backbreaking hours.
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Mar 26, 2017 02:12
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lol 2% annual raises. In the real world we have multi-year contracts with no inflation-protection which we basically accept without even knowing the compensation package lest the employer drop us for someone else.
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Mar 26, 2017 02:12
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EAT FASTER!!!!!! posted:Classism. Salaried workers in white-collar jobs with college degrees don't believe blue-collar employees in fields like maintenance or custodial work should outearn them even when they're working literal backbreaking hours. Because nobody believes the guy was literally working 17 hours a day for 18 days in a row as he claimed.
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Mar 26, 2017 02:19
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Droo posted:As I already stated, my number included about $13k of AMT. And I didn't even include their charitable stuff before, so it's actually lower. Gotcha -- and thanks for showing the math. I don't think we actually disagree on significant issues here -- ~174k on 464k income (which is the right denominator, not 500k -- as the 36k in a traditional 401k hasn't been taxed yet) is ~38%, which is close enough to 40%. I agree with your subsequent math except that the mortgage interest deduction is probably too large. It's actually tricky to arrive at reasonable numbers here (which goes back to the point that this whole thing is fake anyways). Either they have a massive downpayment (significantly more than 20%) or a really long amortization (> 30y) or unreasonably low interest rates to arrive at 60k annually (and that doesn't even factor in non-tax-deductible mortgage insurance). Something like 1.2M over 40y at 3.5% with mortgage insurance of 0.5% almost works, so lets go with that -- which gives 40k of mortgage interest, not 50k. This results in something like 107k federal tax + 22k FICA + 45k state/local taxes, which takes us back to your original number of 174k. Note that in this same situation, a married couple who decides to rent and doesn't have charitable donations will have an average (not marginal) tax rate of just over 41%.
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Mar 26, 2017 02:59
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pig slut lisa posted:Do you think the $500,000/year couple would describe themselves as "wealthy" or "middle class"?
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Mar 26, 2017 03:49
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Sirotan posted:Having to settle on a week's vacation to debt-laden Puerto Rico So basic.
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Mar 26, 2017 04:19
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EAT FASTER!!!!!! posted:I'm gonna need you to buy a Golf R and then convince me to buy a Golf R, thanks! I already have a small, practical, 2 door, European hatchback.
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Mar 26, 2017 04:35
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They should be getting around $4K in credit card reward points alone in addition to their FF miles and hotel, so they don't have to slum it in Puerto Rico.
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Mar 26, 2017 05:20
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canyoneer posted:It can go up or down from there
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Mar 26, 2017 06:12
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pig slut lisa posted:Do you think the $500,000/year couple would describe themselves as "wealthy" or "middle class"? We are all members of the proletariat comrade as we do not control the means of production! 
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Mar 26, 2017 07:41
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Jack2142 posted:We are all members of the proletariat comrade as we do not control the means of production! That's another good one: "We're part of the 99%, just like you  "
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Mar 26, 2017 08:37
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monster on a stick posted:Because nobody believes the guy was literally working 17 hours a day for 18 days in a row as he claimed. Why not? Do people believe Marissa Mayer when she claimed similar things?
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Mar 26, 2017 09:31
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pr0zac posted:Why not? Do people believe Marissa Mayer when she claimed similar things? Because CEOs don't actually work, unlike janitors, so they can claim that 17 hours is doable because it takes no effort to do their jobs.
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Mar 26, 2017 09:46
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pr0zac posted:Why not? Do people believe Marissa Mayer when she claimed similar things? No, I do not.
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Mar 26, 2017 14:06
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How do we feel about doctors or long-haul truckers?
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Mar 26, 2017 14:37
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Surely everyone has seen this little gem note how they count gym and other unspecified activities as "working", also lunch as "business lunches" to make up that supposed 55 hour work week (it's 35 hrs w/o it, and 30 hours if you don't count lunch)
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Mar 26, 2017 14:40
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Subjunctive posted:How do we feel about doctors or long-haul truckers? Neither of those professions work that many hours (17 hours 18 days in a row), and it is in fact illegal under federal regulations for truckers to do that
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Mar 26, 2017 14:45
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I wonder if I could make any of those fly at my current job. "Boss, I'd love to do that project for you, but I am way behind on my 20 hours a week of gym, travel, and personal appointments. You're gonna have to get Todd to do it." "Yes, I was on lunch 2 hours ago, but this is business lunch." "Please don't disturb me. I have 2 hours of phone calls to make and then I have 2 hours of conference calls. No, that is not 'basically just 4 hours on the phone.' Get out of my office Todd." Leon Trotsky 2012 fucked around with this message at 14:52 on Mar 26, 2017 |
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Mar 26, 2017 14:49
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lousy work ethic.. let me tell you about my 7-8 daily hours of Business Sleep
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Mar 26, 2017 15:17
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Some of my best ideas come to me in the shower, so I count showering as work time.
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Mar 26, 2017 15:22
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FrozenVent posted:Some of my best ideas come to me in the shower, so I count showering as work time. 
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Mar 26, 2017 15:44
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