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Article: 4 Men, 4 Incomes

April 26th, 2016 at 05:27 am

I found this Esquire article on My Money Blog today. The most interesting part to me was that two of the men with the lowest incomes thought taxes were too high. I'd have to bet neither of them are paying Federal income tax. Of course, yes, they likely pay sales tax.

And if I was making $50K, I would not be buying such expensive bedroom sets! I do feel for the guy making minimum wage. I do wonder what his plan is to triple his income? I hope he is taking advantage of some educational opportunities!

What did you take away from the article?

2 Responses to “Article: 4 Men, 4 Incomes”

  1. MonkeyMama Says:

    I had mostly the same thoughts.

    I am astounded by the tax comments. In CA we have such a middle class squeeze. I don't see being so blase about taxes. I have many clients who are paying more than 50% of their income to taxes. They aren't "rich" by any means because of the high cost of living. So I am kind of astounded how blase the higher income guys were about their taxes ([particularly the $250k income in CA). & the lower income guys can't be paying any income taxes. But they are probably speaking to social security and payroll taxes.

    Why on earth would you spend like $10,000 on bedroom sets?? That did seem so odd given the income and means. That does remind me though, my parents have always had nice furniture. It's just one of their things. I know they don't understand some of our priorities. & it's clear as day to me that we can afford a heck of a lot of other things because we aren't spending that money on furniture.

  2. LivingAlmostLarge Says:

    Because people feel that on a smaller income every penny going away like payroll taxes is something they are paying. There was a mustachian argument is it better to make $100k or $500k? $500k guy if both are renting is paying $130k in taxes. But at the end of the day he's still got $370k to spend/save. I'd rather be him than $100k guy paying $5k in taxes and only $95k to work with.

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