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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
We all Obama's niggas now.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
How much money do you need to make to be the top 1%?
Posted by:
Richie Rich
()
Date: October 10, 2011 03:22PM
I always hear different numbers.
Re: How much money do you need to make to be the top 1%?
Posted by:
Johnny Walker
()
Date: October 10, 2011 03:26PM
More than you have or will ever have.
Re: How much money do you need to make to be the top 1%?
Posted by:
eesh
()
Date: October 10, 2011 03:29PM
A gajillion dollars.
Re: How much money do you need to make to be the top 1%?
Posted by:
stats and such
()
Date: October 10, 2011 03:45PM
Barry says $200,000 for a single person and $250,000 for a married couple which is a laugh that he considers that wealthy. Maybe in Bumfuck, Kansas but not in any major city in the U S
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 03:46PM
More than all users of FFXU combined. You see, top 1%ers are debt free, completely. Id bet almost everybody here is in debt, even if its good debt such aqs a reasonable car, house or student loans.
Re: How much money do you need to make to be the top 1%?
Posted by:
eesh
()
Date: October 10, 2011 03:52PM
JBass Wrote:
-------------------------------------------------------
> More than all users of FFXU combined. You see,
> top 1%ers are debt free, completely. Id bet
> almost everybody here is in debt, even if its good
> debt such aqs a reasonable car, house or student
> loans.
You are the first person in history to consider student loans "good debt." Now a mortgage can be considered "good debt" since you gain equity over the years, but a car loan also is NOT good debt, since every time you drive it, the value goes down a bit.
-------------------------------------------------------
> More than all users of FFXU combined. You see,
> top 1%ers are debt free, completely. Id bet
> almost everybody here is in debt, even if its good
> debt such aqs a reasonable car, house or student
> loans.
You are the first person in history to consider student loans "good debt." Now a mortgage can be considered "good debt" since you gain equity over the years, but a car loan also is NOT good debt, since every time you drive it, the value goes down a bit.
Re: How much money do you need to make to be the top 1%?
Posted by:
eesh
()
Date: October 10, 2011 03:53PM
stats and such Wrote:
-------------------------------------------------------
> Barry says $200,000 for a single person and
> $250,000 for a married couple which is a laugh
> that he considers that wealthy. Maybe in Bumfuck,
> Kansas but not in any major city in the U S
Yeah, that's bullshit. The top 1% aren't earning a paycheck to survive, all their money comes from capital income.
-------------------------------------------------------
> Barry says $200,000 for a single person and
> $250,000 for a married couple which is a laugh
> that he considers that wealthy. Maybe in Bumfuck,
> Kansas but not in any major city in the U S
Yeah, that's bullshit. The top 1% aren't earning a paycheck to survive, all their money comes from capital income.
Re: How much money do you need to make to be the top 1%?
Posted by:
Johnny Walker
()
Date: October 10, 2011 03:58PM
stats and such Wrote:
-------------------------------------------------------
> Barry says $200,000 for a single person and
> $250,000 for a married couple which is a laugh
> that he considers that wealthy. Maybe in Bumfuck,
> Kansas but not in any major city in the U S
That was to define "wealthy" for tax-bracket purposes, not the "top 1%," and I think it's entirely fair to say someone with an income that high is wealthy. Yes, even in this area or in the area of other major cities in the US. A lot of people make far less than that around here and are able to live decent, middle-class lives.
-------------------------------------------------------
> Barry says $200,000 for a single person and
> $250,000 for a married couple which is a laugh
> that he considers that wealthy. Maybe in Bumfuck,
> Kansas but not in any major city in the U S
That was to define "wealthy" for tax-bracket purposes, not the "top 1%," and I think it's entirely fair to say someone with an income that high is wealthy. Yes, even in this area or in the area of other major cities in the US. A lot of people make far less than that around here and are able to live decent, middle-class lives.
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 04:05PM
eesh Wrote:
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > More than all users of FFXU combined. You see,
> > top 1%ers are debt free, completely. Id bet
> > almost everybody here is in debt, even if its
> good
> > debt such aqs a reasonable car, house or
> student
> > loans.
>
>
>
> You are the first person in history to consider
> student loans "good debt." Now a mortgage can be
> considered "good debt" since you gain equity over
> the years, but a car loan also is NOT good debt,
> since every time you drive it, the value goes down
> a bit.
Compared to unsecured credit card debt, student loans are indeed good debt. This is from the first site I went to after reading your post. Im sure I could find a dozen more, you argumentative nerd. Too bad GI bill doesnt pay for less than honorable discharges. I bet you payed in every month before getting the boot, too. $250,000 in assets with no debt at all still likely does not put you in the top 1%. Good debt is anything that appreciates in value and is al all but a certianty that the average schmuch will earn more in a lifetime with a dergee versus with out one. The car is a necessary expense for most anybody who does not live and work right on a public transit line.
"For example, a home purchase can be considered to be a good debt. Since homes usually appreciate in value, the mortgage loan you take out to pay for the home is an investment. Another example of a good debt is a student loan taken out to finance a college education. Earning a college degree usually means that you’ll make more money over your lifetime."
You are such a tool.
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > More than all users of FFXU combined. You see,
> > top 1%ers are debt free, completely. Id bet
> > almost everybody here is in debt, even if its
> good
> > debt such aqs a reasonable car, house or
> student
> > loans.
>
>
>
> You are the first person in history to consider
> student loans "good debt." Now a mortgage can be
> considered "good debt" since you gain equity over
> the years, but a car loan also is NOT good debt,
> since every time you drive it, the value goes down
> a bit.
Compared to unsecured credit card debt, student loans are indeed good debt. This is from the first site I went to after reading your post. Im sure I could find a dozen more, you argumentative nerd. Too bad GI bill doesnt pay for less than honorable discharges. I bet you payed in every month before getting the boot, too. $250,000 in assets with no debt at all still likely does not put you in the top 1%. Good debt is anything that appreciates in value and is al all but a certianty that the average schmuch will earn more in a lifetime with a dergee versus with out one. The car is a necessary expense for most anybody who does not live and work right on a public transit line.
"For example, a home purchase can be considered to be a good debt. Since homes usually appreciate in value, the mortgage loan you take out to pay for the home is an investment. Another example of a good debt is a student loan taken out to finance a college education. Earning a college degree usually means that you’ll make more money over your lifetime."
You are such a tool.
Re: How much money do you need to make to be the top 1%?
Posted by:
Johnny Walker
()
Date: October 10, 2011 04:11PM
A college degree once could be considered a good debt because it meant a decent job. This is not true anymore.
Re: How much money do you need to make to be the top 1%?
Posted by:
not true
()
Date: October 10, 2011 04:15PM
Please put me in contact with the person who thinks they are wealthy by making 200k a year so I can laugh in their face.
Get back to me when you crack the 500k mark then we can talk.
Get back to me when you crack the 500k mark then we can talk.
Re: How much money do you need to make to be the top 1%?
Posted by:
Master of Reality
()
Date: October 10, 2011 04:16PM
eesh Wrote:
-------------------------------------------------------
> Yeah, that's bullshit. The top 1% aren't earning a
> paycheck to survive, all their money comes from
> capital income.
INCOME GROUPS IN THE U.S. (2007)
Median — $25,076
Top 10% — $87,334
Top 5% — $120,212
Top 1% — $277,983
Top 0.5% — $397,949
Top 0.1% — $1,134,849
Top 0.01% — $5,349,795
Source: http://blogs.wsj.com/wealth/2007/02/01/the-rich-o-meter/
I would guess that most people who make $277,983 (top 1%) do so through a salary/paycheck, not through investment income. Successful doctors, lawyers, businessmen, etc.
Top 0.01%, yeah, they probably have a lot of investment income.
-------------------------------------------------------
> Yeah, that's bullshit. The top 1% aren't earning a
> paycheck to survive, all their money comes from
> capital income.
INCOME GROUPS IN THE U.S. (2007)
Median — $25,076
Top 10% — $87,334
Top 5% — $120,212
Top 1% — $277,983
Top 0.5% — $397,949
Top 0.1% — $1,134,849
Top 0.01% — $5,349,795
Source: http://blogs.wsj.com/wealth/2007/02/01/the-rich-o-meter/
I would guess that most people who make $277,983 (top 1%) do so through a salary/paycheck, not through investment income. Successful doctors, lawyers, businessmen, etc.
Top 0.01%, yeah, they probably have a lot of investment income.
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 04:16PM
Johnny Walker Wrote:
-------------------------------------------------------
> A college degree once could be considered a good
> debt because it meant a decent job. This is not
> true anymore.
Depends on the field but yes, being 21 and just out of University is NOT a fun place to be right now. The only thing they have going for them is that the corporations can hire them for a fraction of the cost of an unemployed late 20- early 30 with only a few years experience.
-------------------------------------------------------
> A college degree once could be considered a good
> debt because it meant a decent job. This is not
> true anymore.
Depends on the field but yes, being 21 and just out of University is NOT a fun place to be right now. The only thing they have going for them is that the corporations can hire them for a fraction of the cost of an unemployed late 20- early 30 with only a few years experience.
Re: How much money do you need to make to be the top 1%?
Posted by:
Johnny Walker
()
Date: October 10, 2011 04:21PM
not true Wrote:
-------------------------------------------------------
> Please put me in contact with the person who
> thinks they are wealthy by making 200k a year so I
> can laugh in their face.
> Get back to me when you crack the 500k mark then
> we can talk.
It doesn't matter what their perception of their place is. They are wealthy.
-------------------------------------------------------
> Please put me in contact with the person who
> thinks they are wealthy by making 200k a year so I
> can laugh in their face.
> Get back to me when you crack the 500k mark then
> we can talk.
It doesn't matter what their perception of their place is. They are wealthy.
Re: How much money do you need to make to be the top 1%?
Posted by:
Hatemotor
()
Date: October 10, 2011 04:23PM
If your not a billionaire your not in the top 1%,,,
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 04:27PM
Hatemotor Wrote:
-------------------------------------------------------
> If your not a billionaire your not in the top
> 1%,,,
Based on this simplistic logic, there would be aproxametly 3 million Billionaires in the country. Forbes claims there are 403. You are a lil off.
The thing about billionaires is that they are SO disproportionately wealthy compared to the average man. Its really difficult for most to grasp.
-------------------------------------------------------
> If your not a billionaire your not in the top
> 1%,,,
Based on this simplistic logic, there would be aproxametly 3 million Billionaires in the country. Forbes claims there are 403. You are a lil off.
The thing about billionaires is that they are SO disproportionately wealthy compared to the average man. Its really difficult for most to grasp.
Re: How much money do you need to make to be the top 1%?
Posted by:
tell me this
()
Date: October 10, 2011 04:35PM
A person that makes 200k a year qualifies for a $500,000 home. That is if they are not carrying some huge debt and have a good credit score. And that is top end, in todays market a mortgage company may qualify you for even less.
Are you telling me when you pass a $500,000 home in this area you say to yourself now there is where a rich guy lives.
Are you telling me when you pass a $500,000 home in this area you say to yourself now there is where a rich guy lives.
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 04:44PM
Talking about income has 0 to do with wealth for paycheck collectors. What matters is income, debt, personal choice of expendable income and net worth.
A better question would be "What percentage of Americans have ANY net worth? (not including appreciated values on a primary residence [For example, my buddies parents in Fairfax City bought for say $80,000 and the home is now worth $300,000] as this is most working stiff's with tenure in the housing markets retirement nest egg and is not investible)
I bet the number is astoundingly low but you would be surprised at who has net worth. Many smart middle-america blue-collar workers have more net worth than the fancy NYC lawyer, as he is leveraged to his eyeballs and spends money like I crush pints!
A better question would be "What percentage of Americans have ANY net worth? (not including appreciated values on a primary residence [For example, my buddies parents in Fairfax City bought for say $80,000 and the home is now worth $300,000] as this is most working stiff's with tenure in the housing markets retirement nest egg and is not investible)
I bet the number is astoundingly low but you would be surprised at who has net worth. Many smart middle-america blue-collar workers have more net worth than the fancy NYC lawyer, as he is leveraged to his eyeballs and spends money like I crush pints!
Re: How much money do you need to make to be the top 1%?
Posted by:
Hatemotor
()
Date: October 10, 2011 04:44PM
JBass Wrote:
-------------------------------------------------------
> Hatemotor Wrote:
> --------------------------------------------------
> -----
> > If your not a billionaire your not in the top
> > 1%,,,
>
>
> Based on this simplistic logic, there would be
> aproxametly 3 million Billionaires in the country.
> Forbes claims there are 403. You are a lil off.
>
>
> The thing about billionaires is that they are SO
> disproportionately wealthy compared to the average
> man. Its really difficult for most to grasp.
I was being facetious,,,I'm just tired of the political talking points people trying to say "Obama says your rich if you make 200K a year"
Besides not being accurate, it's fucking ridiculous,,,
When people are talking about the "rich" they are talking about people with hundreds of millions/billions of dollars, that can indeed afford to pay taxes at the pre-Bush tax cut levels,,,
-------------------------------------------------------
> Hatemotor Wrote:
> --------------------------------------------------
> -----
> > If your not a billionaire your not in the top
> > 1%,,,
>
>
> Based on this simplistic logic, there would be
> aproxametly 3 million Billionaires in the country.
> Forbes claims there are 403. You are a lil off.
>
>
> The thing about billionaires is that they are SO
> disproportionately wealthy compared to the average
> man. Its really difficult for most to grasp.
I was being facetious,,,I'm just tired of the political talking points people trying to say "Obama says your rich if you make 200K a year"
Besides not being accurate, it's fucking ridiculous,,,
When people are talking about the "rich" they are talking about people with hundreds of millions/billions of dollars, that can indeed afford to pay taxes at the pre-Bush tax cut levels,,,
Re: How much money do you need to make to be the top 1%?
Posted by:
Johnny Walker
()
Date: October 10, 2011 04:48PM
tell me this Wrote:
-------------------------------------------------------
> A person that makes 200k a year qualifies for a
> $500,000 home. That is if they are not carrying
> some huge debt and have a good credit score. And
> that is top end, in todays market a mortgage
> company may qualify you for even less.
>
> Are you telling me when you pass a $500,000 home
> in this area you say to yourself now there is
> where a rich guy lives.
When I pass those homes I usually think "There's someone who's probably doing pretty good for themselves."
Or, I think, "There's an idiot who bought a stupid cookie-cutter house." Depends on the area.
-------------------------------------------------------
> A person that makes 200k a year qualifies for a
> $500,000 home. That is if they are not carrying
> some huge debt and have a good credit score. And
> that is top end, in todays market a mortgage
> company may qualify you for even less.
>
> Are you telling me when you pass a $500,000 home
> in this area you say to yourself now there is
> where a rich guy lives.
When I pass those homes I usually think "There's someone who's probably doing pretty good for themselves."
Or, I think, "There's an idiot who bought a stupid cookie-cutter house." Depends on the area.
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 04:49PM
Hatemotor Wrote:
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > Hatemotor Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > If your not a billionaire your not in the top
> > > 1%,,,
> >
> >
> > Based on this simplistic logic, there would be
> > aproxametly 3 million Billionaires in the
> country.
> > Forbes claims there are 403. You are a lil
> off.
> >
> >
> > The thing about billionaires is that they are
> SO
> > disproportionately wealthy compared to the
> average
> > man. Its really difficult for most to grasp.
>
>
> I was being facetious,,,I'm just tired of the
> political talking points people trying to say
> "Obama says your rich if you make 200K a year"
>
> Besides not being accurate, it's fucking
> ridiculous,,,
>
> When people are talking about the "rich" they are
> talking about people with hundreds of
> millions/billions of dollars, that can indeed
> afford to pay taxes at the pre-Bush tax cut
> levels,,,
Aaah, I got ya. Yes, as I have said before we are all mere serfs to those that hold the keys to the kingdom. Pawns.
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > Hatemotor Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > If your not a billionaire your not in the top
> > > 1%,,,
> >
> >
> > Based on this simplistic logic, there would be
> > aproxametly 3 million Billionaires in the
> country.
> > Forbes claims there are 403. You are a lil
> off.
> >
> >
> > The thing about billionaires is that they are
> SO
> > disproportionately wealthy compared to the
> average
> > man. Its really difficult for most to grasp.
>
>
> I was being facetious,,,I'm just tired of the
> political talking points people trying to say
> "Obama says your rich if you make 200K a year"
>
> Besides not being accurate, it's fucking
> ridiculous,,,
>
> When people are talking about the "rich" they are
> talking about people with hundreds of
> millions/billions of dollars, that can indeed
> afford to pay taxes at the pre-Bush tax cut
> levels,,,
Aaah, I got ya. Yes, as I have said before we are all mere serfs to those that hold the keys to the kingdom. Pawns.
Re: How much money do you need to make to be the top 1%?
Posted by:
Little baldheaded bitches
()
Date: October 10, 2011 04:54PM
We all Obama's niggas now.
Re: How much money do you need to make to be the top 1%?
Posted by:
Hatemotor
()
Date: October 10, 2011 05:09PM
One other thing I would add,,,
Most of the rich don't seem to object to these modest tax increases that are proposed,,,it's the republicans in congress that seem to think it's a crime against the little baby Jesus to raise taxes to the pre-Bush levels,,,
Them, and the tea party members who think they're rich BUT AREN'T,,,
Most of the rich don't seem to object to these modest tax increases that are proposed,,,it's the republicans in congress that seem to think it's a crime against the little baby Jesus to raise taxes to the pre-Bush levels,,,
Them, and the tea party members who think they're rich BUT AREN'T,,,
Re: How much money do you need to make to be the top 1%?
Posted by:
eesh
()
Date: October 10, 2011 05:12PM
JBass Wrote:
-------------------------------------------------------
> Compared to unsecured credit card debt, student
> loans are indeed good debt. This is from the
> first site I went to after reading your post. Im
> sure I could find a dozen more, you argumentative
> nerd.
> Good debt is anything that
> appreciates in value and is al all but a certianty
> that the average schmuch will earn more in a
> lifetime with a dergee versus with out one. The
> car is a necessary expense for most anybody who
> does not live and work right on a public transit
> line.
No, student loans are not good debt. Pay attention to what you posted, "good debt is anything that appreciates in value." Do student loans appreciate in value? wtf
A college degree is an investment sure, but student loans are a separate issue. There are plenty of alternatives to student loans, so pursuing college does not mean you will be in debt for years to come.
-------------------------------------------------------
> Compared to unsecured credit card debt, student
> loans are indeed good debt. This is from the
> first site I went to after reading your post. Im
> sure I could find a dozen more, you argumentative
> nerd.
> Good debt is anything that
> appreciates in value and is al all but a certianty
> that the average schmuch will earn more in a
> lifetime with a dergee versus with out one. The
> car is a necessary expense for most anybody who
> does not live and work right on a public transit
> line.
No, student loans are not good debt. Pay attention to what you posted, "good debt is anything that appreciates in value." Do student loans appreciate in value? wtf
A college degree is an investment sure, but student loans are a separate issue. There are plenty of alternatives to student loans, so pursuing college does not mean you will be in debt for years to come.
Re: How much money do you need to make to be the top 1%?
Posted by:
eesh
()
Date: October 10, 2011 05:14PM
JBass Wrote:
-------------------------------------------------------
> as he is
> leveraged to his eyeballs and spends money like I
> crush pints!
Is this some regional slang? You are the only one that has ever used "crush" to refer to drinking.
-------------------------------------------------------
> as he is
> leveraged to his eyeballs and spends money like I
> crush pints!
Is this some regional slang? You are the only one that has ever used "crush" to refer to drinking.
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 05:19PM
eesh Wrote:
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
>
> > Compared to unsecured credit card debt, student
> > loans are indeed good debt. This is from the
> > first site I went to after reading your post.
> Im
> > sure I could find a dozen more, you
> argumentative
> > nerd.
>
> > Good debt is anything that
> > appreciates in value and is al all but a
> certianty
> > that the average schmuch will earn more in a
> > lifetime with a dergee versus with out one.
> The
> > car is a necessary expense for most anybody who
> > does not live and work right on a public
> transit
> > line.
>
>
>
> No, student loans are not good debt. Pay attention
> to what you posted, "good debt is anything that
> appreciates in value." Do student loans appreciate
> in value? wtf
>
> A college degree is an investment sure, but
> student loans are a separate issue. There are
> plenty of alternatives to student loans, so
> pursuing college does not mean you will be in debt
> for years to come.
Theres my argumentative eesh! Look at the context of my first post on this thread. I was simply saying that probably all but 1 or 2 people here have 0 net worth, even if some of their debt holds a perceived value. I understand what you are saying, you cant "sell your college degree to pay-off your student loan notes" but you can sell yourself in a job interview and earn more than non-degree holders.
you are arguing for the sake of arguing on a topic you have no personal stake is seeing how
1) You have no college degree.
2) You are not in the top 1% of Americans in terms of wealth
3) You are unemployable given the nature of your discharge from the armed services.
4) You cannot obtain credit from anyone but rent-a-center and eastern motors.
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
>
> > Compared to unsecured credit card debt, student
> > loans are indeed good debt. This is from the
> > first site I went to after reading your post.
> Im
> > sure I could find a dozen more, you
> argumentative
> > nerd.
>
> > Good debt is anything that
> > appreciates in value and is al all but a
> certianty
> > that the average schmuch will earn more in a
> > lifetime with a dergee versus with out one.
> The
> > car is a necessary expense for most anybody who
> > does not live and work right on a public
> transit
> > line.
>
>
>
> No, student loans are not good debt. Pay attention
> to what you posted, "good debt is anything that
> appreciates in value." Do student loans appreciate
> in value? wtf
>
> A college degree is an investment sure, but
> student loans are a separate issue. There are
> plenty of alternatives to student loans, so
> pursuing college does not mean you will be in debt
> for years to come.
Theres my argumentative eesh! Look at the context of my first post on this thread. I was simply saying that probably all but 1 or 2 people here have 0 net worth, even if some of their debt holds a perceived value. I understand what you are saying, you cant "sell your college degree to pay-off your student loan notes" but you can sell yourself in a job interview and earn more than non-degree holders.
you are arguing for the sake of arguing on a topic you have no personal stake is seeing how
1) You have no college degree.
2) You are not in the top 1% of Americans in terms of wealth
3) You are unemployable given the nature of your discharge from the armed services.
4) You cannot obtain credit from anyone but rent-a-center and eastern motors.
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 05:21PM
eesh Wrote:
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > as he is
> > leveraged to his eyeballs and spends money like
> I
> > crush pints!
>
>
>
>
>
> Is this some regional slang? You are the only one
> that has ever used "crush" to refer to drinking.
Yes, it is from the "North Arlington region of the commonwealth, Clarendon clan
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > as he is
> > leveraged to his eyeballs and spends money like
> I
> > crush pints!
>
>
>
>
>
> Is this some regional slang? You are the only one
> that has ever used "crush" to refer to drinking.
Yes, it is from the "North Arlington region of the commonwealth, Clarendon clan
Re: How much money do you need to make to be the top 1%?
Posted by:
eesh
()
Date: October 10, 2011 05:22PM
JBass Wrote:
-------------------------------------------------------
> I understand what you are
> saying, you cant "sell your college degree to
> pay-off your student loan notes" but you can sell
> yourself in a job interview and earn more than
> non-degree holders.
I never said that. Having student loans and possessing a college degree are two separate concepts. Just because you have a degree, and are more desirable in the job market does not mean you have debts from student loans; vice versa, you can be swimming in student debt and not have a degree.
-------------------------------------------------------
> I understand what you are
> saying, you cant "sell your college degree to
> pay-off your student loan notes" but you can sell
> yourself in a job interview and earn more than
> non-degree holders.
I never said that. Having student loans and possessing a college degree are two separate concepts. Just because you have a degree, and are more desirable in the job market does not mean you have debts from student loans; vice versa, you can be swimming in student debt and not have a degree.
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 05:23PM
eesh Wrote:
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > I understand what you are
> > saying, you cant "sell your college degree to
> > pay-off your student loan notes" but you can
> sell
> > yourself in a job interview and earn more than
> > non-degree holders.
>
>
>
> I never said that. Having student loans and
> possessing a college degree are two separate
> concepts. Just because you have a degree, and are
> more desirable in the job market does not mean you
> have debts from student loans; vice versa, you can
> be swimming in student debt and not have a degree.
Valid point. I know a few people in that boat.
Edited 1 time(s). Last edit at 10/10/2011 05:23PM by JBass.
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > I understand what you are
> > saying, you cant "sell your college degree to
> > pay-off your student loan notes" but you can
> sell
> > yourself in a job interview and earn more than
> > non-degree holders.
>
>
>
> I never said that. Having student loans and
> possessing a college degree are two separate
> concepts. Just because you have a degree, and are
> more desirable in the job market does not mean you
> have debts from student loans; vice versa, you can
> be swimming in student debt and not have a degree.
Valid point. I know a few people in that boat.
Edited 1 time(s). Last edit at 10/10/2011 05:23PM by JBass.
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass & eeshypoo sittin' in a tree
()
Date: October 10, 2011 06:28PM
JBass Wrote:
-------------------------------------------------------
> Valid point. I know a few people in that boat.
Aaawww. JBass
eesh
Get a room, fags.
-------------------------------------------------------
> Valid point. I know a few people in that boat.
Aaawww. JBass
eeshGet a room, fags.
Re: How much money do you need to make to be the top 1%?
Posted by:
Gonads & Strife
()
Date: October 10, 2011 06:31PM
$100,000,000
Re: How much money do you need to make to be the top 1%?
Posted by:
they mind
()
Date: October 10, 2011 06:41PM
Hatemotor Wrote:
-------------------------------------------------------
> One other thing I would add,,,
>
> Most of the rich don't seem to object to these
> modest tax increases that are proposed,,,it's the
> republicans in congress that seem to think it's a
> crime against the little baby Jesus to raise taxes
> to the pre-Bush levels,,,
>
> Them, and the tea party members who think they're
> rich BUT AREN'T,,,
What you mean like Warren Buffet who owes the government over 1 billion in back taxes and uses every single tax break there is?
Anyone who says they dont mind is either lying or really doesnt care since they will just use more write offs or loop holes. If they really didnt mind they would just go ahead and donate money to the IRS, they accept donations
-------------------------------------------------------
> One other thing I would add,,,
>
> Most of the rich don't seem to object to these
> modest tax increases that are proposed,,,it's the
> republicans in congress that seem to think it's a
> crime against the little baby Jesus to raise taxes
> to the pre-Bush levels,,,
>
> Them, and the tea party members who think they're
> rich BUT AREN'T,,,
What you mean like Warren Buffet who owes the government over 1 billion in back taxes and uses every single tax break there is?
Anyone who says they dont mind is either lying or really doesnt care since they will just use more write offs or loop holes. If they really didnt mind they would just go ahead and donate money to the IRS, they accept donations
Re: How much money do you need to make to be the top 1%?
Posted by:
friskydingo
()
Date: October 10, 2011 06:45PM
I covered this in the other thread....
All from the us census for household incomes. Cuz that's how they measure wealth.
The household medium income in Fairfax county is $103,010 in 2010, meaning that at least half of the households in Fairfax county make $103,010, OR MORE.
According to the U.S. Census bureau households that make $100-149k, make up
9.89% of the US population. Therefore well over half of Fairfax County residents live in the top quintile (top 20%)
and you only have to make $200,000+ per household to be in that coveted 1%, which is very common here. I wonder what % of Fairfax county households are 200,000+? I bet its a heckofa lot more than 1%
(note: 200,000 dollars a year is the top 1.39%)
All from the us census for household incomes. Cuz that's how they measure wealth.
The household medium income in Fairfax county is $103,010 in 2010, meaning that at least half of the households in Fairfax county make $103,010, OR MORE.
According to the U.S. Census bureau households that make $100-149k, make up
9.89% of the US population. Therefore well over half of Fairfax County residents live in the top quintile (top 20%)
and you only have to make $200,000+ per household to be in that coveted 1%, which is very common here. I wonder what % of Fairfax county households are 200,000+? I bet its a heckofa lot more than 1%
(note: 200,000 dollars a year is the top 1.39%)
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 06:54PM
friskydingo Wrote:
-------------------------------------------------------
> I covered this in the other thread....
>
> All from the us census for household incomes. Cuz
> that's how they measure wealth.
>
> The household medium income in Fairfax county is
> $103,010 in 2010, meaning that at least half of
> the households in Fairfax county make $103,010, OR
> MORE.
>
>
That is not what median income means. It is an average. If I have a million and 9 other have nothing, the household income would be 100K per household. It has nothing to do with percentages.
-------------------------------------------------------
> I covered this in the other thread....
>
> All from the us census for household incomes. Cuz
> that's how they measure wealth.
>
> The household medium income in Fairfax county is
> $103,010 in 2010, meaning that at least half of
> the households in Fairfax county make $103,010, OR
> MORE.
>
>
That is not what median income means. It is an average. If I have a million and 9 other have nothing, the household income would be 100K per household. It has nothing to do with percentages.
Re: How much money do you need to make to be the top 1%?
Posted by:
Hatemotor
()
Date: October 10, 2011 06:57PM
Keep in mind, you can have a billion dollars and not "earn" much yearly,,,
200K does not put you in the top 1% of wealthiest Americans,,,
200K does not put you in the top 1% of wealthiest Americans,,,
Re: How much money do you need to make to be the top 1%?
Posted by:
friskydingo
()
Date: October 10, 2011 07:00PM
JBass Wrote:
-------------------------------------------------------
> friskydingo Wrote:
> --------------------------------------------------
> -----
> > I covered this in the other thread....
> >
> > All from the us census for household incomes.
> Cuz
> > that's how they measure wealth.
> >
> > The household medium income in Fairfax county
> is
> > $103,010 in 2010, meaning that at least half of
> > the households in Fairfax county make $103,010,
> OR
> > MORE.
> >
> >
>
> That is not what median income means. It is an
> average. If I have a million and 9 other have
> nothing, the household income would be 100K per
> household. It has nothing to do with percentages.
WRONG.
MEDIAN - the middle of the data set. Mean is average. They use median because mean (the average) is inaccurate due to outliers in the data set.
Don't you know anything about elementary school math?
Median = half the data is higher, half the data is lower.
-------------------------------------------------------
> friskydingo Wrote:
> --------------------------------------------------
> -----
> > I covered this in the other thread....
> >
> > All from the us census for household incomes.
> Cuz
> > that's how they measure wealth.
> >
> > The household medium income in Fairfax county
> is
> > $103,010 in 2010, meaning that at least half of
> > the households in Fairfax county make $103,010,
> OR
> > MORE.
> >
> >
>
> That is not what median income means. It is an
> average. If I have a million and 9 other have
> nothing, the household income would be 100K per
> household. It has nothing to do with percentages.
WRONG.
MEDIAN - the middle of the data set. Mean is average. They use median because mean (the average) is inaccurate due to outliers in the data set.
Don't you know anything about elementary school math?
Median = half the data is higher, half the data is lower.
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 07:03PM
friskydingo Wrote:
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > friskydingo Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > I covered this in the other thread....
> > >
> > > All from the us census for household incomes.
> > Cuz
> > > that's how they measure wealth.
> > >
> > > The household medium income in Fairfax county
> > is
> > > $103,010 in 2010, meaning that at least half
> of
> > > the households in Fairfax county make
> $103,010,
> > OR
> > > MORE.
> > >
> > >
> >
> > That is not what median income means. It is an
> > average. If I have a million and 9 other have
> > nothing, the household income would be 100K per
> > household. It has nothing to do with
> percentages.
>
>
> WRONG.
>
> MEDIAN - the middle of the data set. Mean is
> average. They use median because mean (the
> average) is inaccurate due to outliers in the data
> set.
>
> Don't you know anything about elementary school
> math?
>
> Median = half the data is higher, half the data is
> lower.
I stand corrected.
-------------------------------------------------------
> JBass Wrote:
> --------------------------------------------------
> -----
> > friskydingo Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > I covered this in the other thread....
> > >
> > > All from the us census for household incomes.
> > Cuz
> > > that's how they measure wealth.
> > >
> > > The household medium income in Fairfax county
> > is
> > > $103,010 in 2010, meaning that at least half
> of
> > > the households in Fairfax county make
> $103,010,
> > OR
> > > MORE.
> > >
> > >
> >
> > That is not what median income means. It is an
> > average. If I have a million and 9 other have
> > nothing, the household income would be 100K per
> > household. It has nothing to do with
> percentages.
>
>
> WRONG.
>
> MEDIAN - the middle of the data set. Mean is
> average. They use median because mean (the
> average) is inaccurate due to outliers in the data
> set.
>
> Don't you know anything about elementary school
> math?
>
> Median = half the data is higher, half the data is
> lower.
I stand corrected.
Re: How much money do you need to make to be the top 1%?
Posted by:
friskydingo
()
Date: October 10, 2011 07:07PM
Jbass,
You are correct about wealth (a households total equity) compared to income. You can make 1 billion dollars a year. But if you spend 999,999,999 dollars a year in debt and expenses, you are not wealthy.
But I think the debate at hand has more to do with income, since that is what will be taxed or not taxed.
You are correct about wealth (a households total equity) compared to income. You can make 1 billion dollars a year. But if you spend 999,999,999 dollars a year in debt and expenses, you are not wealthy.
But I think the debate at hand has more to do with income, since that is what will be taxed or not taxed.
Re: How much money do you need to make to be the top 1%?
Posted by:
friskydingo
()
Date: October 10, 2011 07:13PM
Hatemotor Wrote:
-------------------------------------------------------
> Keep in mind, you can have a billion dollars and
> not "earn" much yearly,,,
>
> 200K does not put you in the top 1% of wealthiest
> Americans,,,
I'm sure people who have a billion dollars earn plenty. Even if they were just making 1/2 percent on that, they'd be making 5 million a year.
-------------------------------------------------------
> Keep in mind, you can have a billion dollars and
> not "earn" much yearly,,,
>
> 200K does not put you in the top 1% of wealthiest
> Americans,,,
I'm sure people who have a billion dollars earn plenty. Even if they were just making 1/2 percent on that, they'd be making 5 million a year.
Re: How much money do you need to make to be the top 1%?
Posted by:
Hatemotor
()
Date: October 10, 2011 07:16PM
friskydingo Wrote:
-------------------------------------------------------
> Jbass,
>
> You are correct about wealth (a households total
> equity) compared to income. You can make 1 billion
> dollars a year. But if you spend 999,999,999
> dollars a year in debt and expenses, you are not
> wealthy.
>
> But I think the debate at hand has more to do with
> income, since that is what will be taxed or not
> taxed.
No,,,,
The title of the thread is,,Re: How much money do you need to make to be the top 1%?
Says nothing about earnings, which, as you have pionted out; clouds the issue,,,
Earnings does not necessarily have anything to do with someones accumulated wealth,,,
-------------------------------------------------------
> Jbass,
>
> You are correct about wealth (a households total
> equity) compared to income. You can make 1 billion
> dollars a year. But if you spend 999,999,999
> dollars a year in debt and expenses, you are not
> wealthy.
>
> But I think the debate at hand has more to do with
> income, since that is what will be taxed or not
> taxed.
No,,,,
The title of the thread is,,Re: How much money do you need to make to be the top 1%?
Says nothing about earnings, which, as you have pionted out; clouds the issue,,,
Earnings does not necessarily have anything to do with someones accumulated wealth,,,
Re: How much money do you need to make to be the top 1%?
Posted by:
JBass
()
Date: October 10, 2011 07:16PM
friskydingo Wrote:
-------------------------------------------------------
> Jbass,
>
> You are correct about wealth (a households total
> equity) compared to income. You can make 1 billion
> dollars a year. But if you spend 999,999,999
> dollars a year in debt and expenses, you are not
> wealthy.
>
Ive already said this in different words in relation to top earners in debt who spend frivolously.
> But I think the debate at hand has more to do with
> income, since that is what will be taxed or not
> taxed.
The OP doesnt specify one way or the other. In other words, there is nothing asking if this is the 1% of earners or 1% of wealth. I bet there are many people from sub 100K households that have more legitimate wealth than some hotshot lawyer making a quarter million with 5K rent, 1K car and thousands a month partying traveling and shopping. Who gives a shit what you earn, it is all about what you save and own. I watched "Shooter" I love the line at the end the senator says there are no deomcrats or republicans, only haves and have nots. We are all have nots.
-------------------------------------------------------
> Jbass,
>
> You are correct about wealth (a households total
> equity) compared to income. You can make 1 billion
> dollars a year. But if you spend 999,999,999
> dollars a year in debt and expenses, you are not
> wealthy.
>
Ive already said this in different words in relation to top earners in debt who spend frivolously.
> But I think the debate at hand has more to do with
> income, since that is what will be taxed or not
> taxed.
The OP doesnt specify one way or the other. In other words, there is nothing asking if this is the 1% of earners or 1% of wealth. I bet there are many people from sub 100K households that have more legitimate wealth than some hotshot lawyer making a quarter million with 5K rent, 1K car and thousands a month partying traveling and shopping. Who gives a shit what you earn, it is all about what you save and own. I watched "Shooter" I love the line at the end the senator says there are no deomcrats or republicans, only haves and have nots. We are all have nots.
Re: How much money do you need to make to be the top 1%?
Posted by:
Hatemotor
()
Date: October 10, 2011 07:17PM
friskydingo Wrote:
-------------------------------------------------------
> Hatemotor Wrote:
> --------------------------------------------------
> -----
> > Keep in mind, you can have a billion dollars
> and
> > not "earn" much yearly,,,
> >
> > 200K does not put you in the top 1% of
> wealthiest
> > Americans,,,
>
>
>
> I'm sure people who have a billion dollars earn
> plenty. Even if they were just making 1/2 percent
> on that, they'd be making 5 million a year.
And alot of them spend 10 million a year,,,
-------------------------------------------------------
> Hatemotor Wrote:
> --------------------------------------------------
> -----
> > Keep in mind, you can have a billion dollars
> and
> > not "earn" much yearly,,,
> >
> > 200K does not put you in the top 1% of
> wealthiest
> > Americans,,,
>
>
>
> I'm sure people who have a billion dollars earn
> plenty. Even if they were just making 1/2 percent
> on that, they'd be making 5 million a year.
And alot of them spend 10 million a year,,,
Re: How much money do you need to make to be the top 1%?
Posted by:
SoylentGreen
()
Date: October 10, 2011 07:45PM
If you can actually count your money, then you're not a rich man.
J. Paul Getty
J. Paul Getty
Re: How much money do you need to make to be the top 1%?
Posted by:
I D K
()
Date: October 10, 2011 09:07PM
I could be in the minority but 200k a year to me is not rich. Thats just me. If you want to compare it to someone living in Somalia ok but in any major U S city that is just not rich.
Re: How much money do you need to make to be the top 1%?
Posted by:
Champion
()
Date: October 10, 2011 11:23PM
"A person that makes 200k a year qualifies for a $500,000 home. That is if they are not carrying some huge debt and have a good credit score. And that is top end, in todays market a mortgage company may qualify you for even less.
Are you telling me when you pass a $500,000 home in this area you say to yourself now there is where a rich guy lives."
Yes, I do.
Edited 1 time(s). Last edit at 10/10/2011 11:24PM by Champion.
Are you telling me when you pass a $500,000 home in this area you say to yourself now there is where a rich guy lives."
Yes, I do.
Edited 1 time(s). Last edit at 10/10/2011 11:24PM by Champion.
Re: How much money do you need to make to be the top 1%?
Posted by:
Champion
()
Date: October 10, 2011 11:32PM
JBass Wrote:
-------------------------------------------------------
> friskydingo Wrote:
> --------------------------------------------------
> -----
> > I covered this in the other thread....
> >
> > All from the us census for household incomes.
> Cuz
> > that's how they measure wealth.
> >
> > The household medium income in Fairfax county
> is
> > $103,010 in 2010, meaning that at least half of
> > the households in Fairfax county make $103,010,
> OR
> > MORE.
> >
> >
>
> That is not what median income means. It is an
> average. If I have a million and 9 other have
> nothing, the household income would be 100K per
> household. It has nothing to do with percentages.
No you are mistaken, median is defined as the mid-point; half will have more than that and half will have less. Mean is the average, or all added up and divided by population. This is known as income per capita, and is what you are thinking of. Mode is the most common amount earned. So the person replying is incorrect. The different measures of central tendency are intended to give accurate depictions of data depending on the depth of that data. To control for outliers median is the best measure for income.
-------------------------------------------------------
> friskydingo Wrote:
> --------------------------------------------------
> -----
> > I covered this in the other thread....
> >
> > All from the us census for household incomes.
> Cuz
> > that's how they measure wealth.
> >
> > The household medium income in Fairfax county
> is
> > $103,010 in 2010, meaning that at least half of
> > the households in Fairfax county make $103,010,
> OR
> > MORE.
> >
> >
>
> That is not what median income means. It is an
> average. If I have a million and 9 other have
> nothing, the household income would be 100K per
> household. It has nothing to do with percentages.
No you are mistaken, median is defined as the mid-point; half will have more than that and half will have less. Mean is the average, or all added up and divided by population. This is known as income per capita, and is what you are thinking of. Mode is the most common amount earned. So the person replying is incorrect. The different measures of central tendency are intended to give accurate depictions of data depending on the depth of that data. To control for outliers median is the best measure for income.
Re: How much money do you need to make to be the top 1%?
Posted by:
Les
()
Date: October 10, 2011 11:50PM
The Fed policy of QE to prop up asset prices tends to help mostly the top 1% and hurt the living standards for most of the rest of the population as evidenced by real median household income during 2009-2011.
Household Income Trends During the Recession and Economic Recovery
During the recession, real median annual household income fell by 3.2 percent, from $55,309 in December 2007 to $53,518 in June 2009. During the economic recovery, real median annual household income fell by an additional 6.7 percent, from $53,518 in June 2009 to $49,909 in June 2011.
http://www.sentierresearch.com/pressreleases/SentierResearch_PressRelease_October_10_2011.pdf
Household Income Trends During the Recession and Economic Recovery
During the recession, real median annual household income fell by 3.2 percent, from $55,309 in December 2007 to $53,518 in June 2009. During the economic recovery, real median annual household income fell by an additional 6.7 percent, from $53,518 in June 2009 to $49,909 in June 2011.
http://www.sentierresearch.com/pressreleases/SentierResearch_PressRelease_October_10_2011.pdf
Re: How much money do you need to make to be the top 1%?
Posted by:
Batman
()
Date: August 11, 2012 07:00AM
Thank you for some facts and statistics. 80% of the comments are from idiots that just assume only billionaire's are in the top 1%.
Re: How much money do you need to make to be the top 1%?
Posted by:
CNN money
()
Date: August 11, 2012 09:33AM
It's probably almost 500K. It was well over 400K in 2007.
Re: How much money do you need to make to be the top 1%?
Posted by:
barry usa
()
Date: August 11, 2012 09:41AM
The evil 1% are whoever Obama says they are. He exempts Soros and a wide assortment of Hollywood liberals. If you dontate to Obama you are washed of all sins.