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Started By
Message
Posted on 3/29/07 at 7:43 pm to Powerman
powerman,
what if someone who makes 2million spends 1.9 million on cars, boats, etc.. wouldnt they then be middle class?
what if someone who makes 2million spends 1.9 million on cars, boats, etc.. wouldnt they then be middle class?
Posted on 3/29/07 at 7:46 pm to rmcc316
They'd still have 100K in the bank each year and plenty of assets they could liquidize if they needed to
I wouldn't suggest doing it because that money (100K) would quickly get eaten up in taxes, insurance etc...
But if you just did it one year and you continued making that money then no, you wouldn't be middle class. You'd just be stupid.
I wouldn't suggest doing it because that money (100K) would quickly get eaten up in taxes, insurance etc...
But if you just did it one year and you continued making that money then no, you wouldn't be middle class. You'd just be stupid.
Posted on 3/29/07 at 7:48 pm to Powerman
the response was made in jest.. I KEED I KEED..
Posted on 3/29/07 at 7:49 pm to rmcc316
I figured that
I was just pointing out that even with ridiculously stupid spending habits, one could recover with a high enough continuous income
I was just pointing out that even with ridiculously stupid spending habits, one could recover with a high enough continuous income
Posted on 3/29/07 at 8:19 pm to Dale Murphy
quote:Dale, I am neither. I believe upper class is more related to socio-economics and high net worth.
Chicken are you rich or just upper class?
By the way, did you know that Powerman didn't even test out of Calculus at LSU?
This post was edited on 3/29/07 at 8:21 pm
Posted on 3/29/07 at 8:22 pm to Chicken
chicken, where do you fall under my double comma rule?
Posted on 3/29/07 at 8:23 pm to Rebel
quote:For net worth...two commas, but I use European notation.
chicken, where do you fall under my double comma rule?
Posted on 3/29/07 at 8:23 pm to Chicken
quote:
I believe upper class is more related to socio-economics
I agree with this but if you are middle bracket income and your family but not you have money you are still considered upper class
Posted on 3/30/07 at 12:46 am to SG_Geaux
quote:
If you're a doctor making 400k a year, you're upper class.
Most MD's dont make that much. I make as much as most physicians. The medical field is still lucrative but overrated. I'm shocked at some of the folks that are getting through med school!
Posted on 3/30/07 at 9:21 am to Powerman
quote:
Karma thinks finding 20 million dollars isn't a form of income
it is for that year. But If he found the money and then didnt work for years later. Hell 50 years later.
Still has 10 million dollars of the 20 million. but hasn't worked in 50 years. Didn't invest the money.
His current income level would be $0 per year. For the last 50 years, he hasn't brought any money in, but still has $10 million in the bank.
Posted on 3/30/07 at 9:24 am to Rebel
quote:
karma -- p man may have been giving you the ropadope. cause any way you slice it, that 20 mill is income.
btw 20 mill falls under the the doube comma rule and qualifies you to become upperclass. doesn't mean that you are guranteed a spot in the upperclass, but you at least qualify.
no rebel. the 20 mill is considered income when he gets it.
But 10 years later it's not still considered income, when someone asks you, "what is your income." Powerman has only been talking about income per year.
Powerman again proves that he can't read.
LINK
This post was edited on 3/30/07 at 9:32 am
Posted on 3/30/07 at 9:28 am to LSU Fan 90812
quote:
But 10 years later it's not still considered income
yes, it would be considered avg income over the 10 years.
please see the double comma rule.
Posted on 3/30/07 at 9:31 am to Rebel
quote:
yes, it would be considered avg income over the 10 years.
Powerman's original argument did NOT include INCOME x DURATION.
It was if "you ask someone how much they make, and it's over 700K a year, then they're rich."
Only later did he start saying um. high INCOME minus EXPENSES x an extended period of time.
And even then, that doesn't make a person upper class it makes them rich.
This post was edited on 3/30/07 at 9:34 am
Posted on 3/30/07 at 9:36 am to LSU Fan 90812
I brought up that my friend made $700k/yr, but the duration of that salary is shorter than most careers. He started making that at 33 or 34 due to the length of time he spent in school and residencies. He says sometimes he reads 150 MRIs in a day. No way he could do that, or would need to, for 15 years. I'm sure he'll cut back on work, and salary at some point. I'm sure he had substantial debt aquired after undergrad, and now has higher spending habits than most. He is rich, no doubt, but working class none the less.
This post was edited on 3/30/07 at 9:37 am
Posted on 3/30/07 at 9:40 am to LSU Fan 90812
i can't believe i am siding with p-man, but you have to look at the original post.
this was never a society question. because we all know that is someting entirely different.
quote:
what salary ranges make up the middle class and upper class in louisiana?
this was never a society question. because we all know that is someting entirely different.
This post was edited on 3/30/07 at 9:41 am
Posted on 3/30/07 at 9:40 am to rmcc316
People who have money working for them to the point where they don't really have to work for their's anymore.
Anyone else is just upper middle class or below.
Anyone else is just upper middle class or below.
Posted on 3/30/07 at 9:43 am to Colonel Ticonderoga
again read the origianl post. this was a question relative to salary ranges between middle and upper class.
Posted on 3/30/07 at 9:47 am to Rebel
quote:
again read the origianl post. this was a question relative to salary ranges between middle and upper class.
nope. there were two questions. i can read just fine.
Posted on 3/30/07 at 9:52 am to LSU Fan 90812
yea i guess your right. damn rmcc and his ambiguous posts.
to the question in the subject line, class is something you can't really buy.
the the question in the post itself-- see my double comma theory.
to the question in the subject line, class is something you can't really buy.
the the question in the post itself-- see my double comma theory.
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