Reply to Your income, HHI, and spending on “luxuries”

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If the answer is none, I don’t under why people are bothering with this thread. Obviously a lot of people in DC make other choices, but the luxury shops are still open. [/quote]

I think because housing is very expensive here and most people are self-made, so there's not a lot of income left to decorate, entertain, or take care of one's self. Most of the PPs are working on accumulating wealth for their kids, so they come from nothing. It's also a lot of travel expense, which means they didn't have the money growing up to travel with their families,  so they make up for it now. [/quote]

It's also lots of people earning from several hundred thousand to maybe a couple of million, but working for somebody.  Law firm, lobbying firm, etc.

It's not the investment bankers, P/E executives, VC executives, start-up folks that get massive bonuses/paydays.  I think there is more a tendency to splurge if you make $250k base (not uncommon for IBankers), but then receive a $5MM bonus.  I know a start-up founder worth $200MM on paper, but only gets paid $250k.  If his paper value becomes real money (IPO or acquisition)...yeah, he is going to buy a bunch of expensive toys.[/quote]

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