Reply to What percentage of your net income goes to tuition?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We've been paying tuition for 4y and I feel like we are drowning.  Right now tuition takes up 25% of our net (but mortgage is only 19% - hello tiny house.)[/quote]

Yes, but you probably do not pay anywhere close to the percentage of your income in taxes that other posters do.[/quote]

huh? how do you know our income or taxes? I didn't mention how many kids we have in private school - just the percentage we are paying out.[/quote]

It is elementary my dear Watson.  If your private school tuition (25%) plus your mortgage (19%) take up a combined 44% of your net income, and that mortgage obligation only pays for as you put it a "tiny house", then even assuming that you pay full private school tuition for three or four children (which I assume that you do not have, thus the aforementioned "tiny house"), you would be nowhere close to paying the more than 50+% combined federal and state income tax rates that some posters are.[/quote]

Drive by commenting (I am not OP):

1. Does this matter, since we are discussing NET pay?

2. Just because you threw it out there: if people with high incomes are losing half their income in taxes, and yet it is "elementary" that they all own Giant Awesome Houses, then the tax must not be so damaging after all. Right? It's a little hard to plead poverty while taking a few laps around your backyard pool, no?

3. I don't contest that most people do trade "up" in home value as disposable income increases. But not all. I currently live in a bitty house, but even if my income tripled tomorrow, I'd keep the small house and spend it on other things. Just sayin'.[/quote]

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