The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: fatty who wrote (12687)	8/20/2003 5:24:45 PM
From: GraceZ	Read Replies (2) of 306849

I think I'd actually love to contribute more than my share of the public spending. That likely means I'm richer than the norm. The top half of all income earners contributes 96% of all Federal income tax receipts (state income tax is similar in break down because it is usually derived from the Federal return). The break point to be in the top half in 1999 was around 26k in gross income. Still feel happy to be "rich" and paying for the other half? Aside from that, the example I was going from wasn't a rich person by any stretch. A couple of 80 year olds living in a 1200 square foot Cape Cod on 12k SS yearly, that sells for the ridiculous price of 500k when they paid 13k for it 60 years ago isn't exactly wealthy. They're just unfortunate to live in an area with above average real estate price inflation and out of control government spending. People shouldn't have to eat the family home in their old age.

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