Anonymous wrote:can i just say, there is a difference between making 200K and being able to spend freely, and then making 600K and not being able to.

Let me explain. Our family, makes 200K, we are a black, Silver Spring, MD family. Our DD goes to private school. We live in a 1600 sq SFH, and we both have a car that is paid off. So you see, we live within our means. yes things can be tight at times, but we don't try to live as if we earn 1M HHI. We dont. We are realistic when it comes to out finances, and we are therefore able to live comfortably. We have friends who live in Potomac in a 5000 sq house each with an expensive car, but they dont have 2 thin dimes to rub together because they do not live within their means.


So.. the reason that you may not "feel rich" is because 1. you aren't. and 2. you may not (and I dont know you and your finances so I cant judge) be living within what you can afford.

Anonymous wrote:can i just say, there is a difference between making 200K and being able to spend freely, and then making 600K and not being able to.

Let me explain. Our family, makes 200K, we are a black, Silver Spring, MD family. Our DD goes to private school. We live in a 1600 sq SFH, and we both have a car that is paid off. So you see, we live within our means. yes things can be tight at times, but we don't try to live as if we earn 1M HHI. We dont. We are realistic when it comes to out finances, and we are therefore able to live comfortably. We have friends who live in Potomac in a 5000 sq house each with an expensive car, but they dont have 2 thin dimes to rub together because they do not live within their means.


So.. the reason that you may not "feel rich" is because 1. you aren't. and 2. you may not (and I dont know you and your finances so I cant judge) be living within what you can afford.

Anonymous wrote:

Anonymous wrote:Yes. That is what I am saying. I am a GS -14 and my H has a less paying job so he works a part-time job to get our income to this level.

I came to the monthly number by multiplying by 26 and dividing by 12.

I make 4700. I pay fegli, Medicare, retirement, state taxes, federal taxes, oasis, FSA, tsp

$25, $68, $38, $300, $665, $57, $195, $705

4700-2057=2647*2*26 then divide by 12 = $11453 ish

Actually I just realized I should add $123 to my monthly income due to what I get back from FSA. But sadly I just realized I forgot my H pays for our health plan so it means we actually bring home less. But this is just to give you an idea.

I am not complaining but I do think when people make less they think if only I had $500 more per month I would be set. I thought this when I was a GS-4. I am blessed to have a job with a retirement and a home and a car that starts most mornings.

Anonymous wrote:

Anonymous wrote:I guess since we make about $20333/month HHI. I would expect to bring home more than $11000/month.

We make $160K gross per year and net 70% of that (a little under $10K/month) after paying taxes and deductions for 401K, flexible spending, and healthcare premiums. You're saying you gross $90K more than my family and yet you only bring home $1K more each month?

How is this possible? Your marginal rate is at the most 5% higher than mine and we probably have similar deductions for dependents and mortgage interest. Are you maxing out your 401K's and flexible spending? That is a blessing - you should realize this. Many people will never be able to do that and have no idea if they can ever retire. And many Americans worry about paying for health care and have no money left over to put in a tax-free spending account.

Okay, I'll lay off. We often wonder how we don't feel more free given what we make. But I am careful to never, ever complain. I come from a part of the country where people are really struggling. I just have no right. At least that's how I feel. I am sure as hell better able to absorb a tax increase than they are.

Anonymous wrote:
In dc you are the middle class is if you make under 527k-616k
In the rest of the USA you are the middle class is if you make under 387k

"To be considered part of the 1 percent in this area, it takes a household income far above the national average of $387,000. The gateway for the region is $527,000. In the District, the top 1 percent of households bring in at least $617,000; in Montgomery County, more than $606,000; and in Fairfax County, $532,000, according to an analysis of census statistics by The Washington Post and Sentier Research, a firm that specializes in income data."

http://www.washingtonpost.com/local/joining-washingtons-one-percenters-takes-more-than-the-us-average/2012/04/21/gIQAJ6YvXT_story.html

Anonymous wrote:

Anonymous wrote:How about this, OP is not rich or wealthy -OP is 'upper middle class'. That is the term I always used. Not really in the middle, but certainly not at that rich level where you have a big house, fancy cars, and not too many cares. Those upper middle class folks (I would put myself in that category) certainly are not struggling and live a comparatively comfortable lifestyle, but are not so wealthy that you can tax them a lot more and not bring them back down into the middle class. that is what is going to happen here. if you increase the tax rate and take away deductions over $250 in high COL areas, you will just bring down more people into middle class. Rich will continue to be rich.
Why not adjust the 250k number for COL?

Because that's still inaccurate. The middle class is from the 25th to 75th percentile, e.g. the middle 50% of the earning population. The upper middle class is roughly the 60-75th percentiles. In the US, median HHI is around $50-60K. In the DC area, median HHI is about 75K in the district and about 90K in the suburbs. The 75th percentile HHI in the nation is probably around 100-125. In the DC area, that's probably about 125-175K. So, upper middle class even in this area would be about 125-175K. 250K is something like the top 5% of even the DC metro area. Yes, there are many thousands who make this, but you are talking thousands of HHI 250K and over in a metro area of millions. There is no way that you can reasonably call the 95th percentile upper middle class even if they don't feel that they have the buying power of the rich. The point is that OP lives in this area and has many, many choices and advantages that 90% of the metro area do not have.

For those people who feel that $250K is "middle class" please stop redefining the term. You can make up new terms to avoid calling yourselves rich, but the fact is that middle class and upper middle class are terms that are defined and trying to expand them to include those who have more does not help those who actually make middle class incomes.

Anonymous wrote:Yes. That is what I am saying. I am a GS -14 and my H has a less paying job so he works a part-time job to get our income to this level.

I came to the monthly number by multiplying by 26 and dividing by 12.

I make 4700. I pay fegli, Medicare, retirement, state taxes, federal taxes, oasis, FSA, tsp

$25, $68, $38, $300, $665, $57, $195, $705

4700-2057=2647*2*26 then divide by 12 = $11453 ish

Actually I just realized I should add $123 to my monthly income due to what I get back from FSA. But sadly I just realized I forgot my H pays for our health plan so it means we actually bring home less. But this is just to give you an idea.

I am not complaining but I do think when people make less they think if only I had $500 more per month I would be set. I thought this when I was a GS-4. I am blessed to have a job with a retirement and a home and a car that starts most mornings.

Anonymous wrote:

Anonymous wrote:I guess since we make about $20333/month HHI. I would expect to bring home more than $11000/month.

We make $160K gross per year and net 70% of that (a little under $10K/month) after paying taxes and deductions for 401K, flexible spending, and healthcare premiums. You're saying you gross $90K more than my family and yet you only bring home $1K more each month?

How is this possible? Your marginal rate is at the most 5% higher than mine and we probably have similar deductions for dependents and mortgage interest. Are you maxing out your 401K's and flexible spending? That is a blessing - you should realize this. Many people will never be able to do that and have no idea if they can ever retire. And many Americans worry about paying for health care and have no money left over to put in a tax-free spending account.

Anonymous wrote:

Anonymous wrote:I guess since we make about $20333/month HHI. I would expect to bring home more than $11000/month.

We make $160K gross per year and net 70% of that (a little under $10K/month) after paying taxes and deductions for 401K, flexible spending, and healthcare premiums. You're saying you gross $90K more than my family and yet you only bring home $1K more each month?

How is this possible? Your marginal rate is at the most 5% higher than mine and we probably have similar deductions for dependents and mortgage interest. Are you maxing out your 401K's and flexible spending? That is a blessing - you should realize this. Many people will never be able to do that and have no idea if they can ever retire. And many Americans worry about paying for health care and have no money left over to put in a tax-free spending account.

Anonymous wrote:I guess since we make about $20333/month HHI. I would expect to bring home more than $11000/month.