Reply to Upper middle class (not adjusted for COL) ends at 350K HHI nationally, DC is 476K-525K

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Reply to "Upper middle class (not adjusted for COL) ends at 350K HHI nationally, DC is 476K-525K "

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]People here are conflating class, as defined in the US which is purely statistical, with lifestyle...a common DCUM mistake.  Everyone here seems to want to define all but the top 5% as middle class...which simply isn't the reality.

What the fact that anyone but the top 5% feels like they are being pinched indicates is that there is massive income and wealth inequality in this country, and some areas are nearly unaffordable for all but the very well-off. [b] DH and I are rich by any possible measure (mid-to-high six figure HHI), but we don't live like Bill Gates for sure[/b].  But I don't run around calling myself MC either, because it would make me look like an idiot.[/quote]

In 2014 for us (which, as they say on the news, is the last year for which figures are available), my DW and I made 902K combined.  Our Fed tax bill was 277K - or 30% of our income.  Our state and property taxes amounted to another 70K.  Another 35K in Medicare and FICA taxes.  All told, 42%+ of every dollar we made went to the government.  It's hard to feel rich when you lose so much to taxes.

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You must be living in a wonderful house if state and property taxes are 70k. Even after 42% cut, it seems there is plenty left. 
Count your blessings. I am from Europe and no doctor there makes anywhere near what doctors make here, same for lawyers. Others might think you are overpaid, why knows how much value you create for society. The pay scale is very unusual here to say the least. [/quote]

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