Yeah, I know, moving from Portland to Orange County and getting married shortly after that are the major reasons. But still, had I been taxed at this lower rate while I was single, I would have had more money saved up for this phase of my life. Unfortunately, government had already decided that while I was single, I could not be trusted to save my money and put it to good use. Now I'm married, so the government now figures I could use more of the money I earn every year. Geez, why wasn't I allowed to save as much money as I could while I was single?
Well, pretty soon my wife will start working, and we'll come close to Kerry's cut-off point for the "rich," assuming that point stays where he originally promised it would be. But then my wife isn't sure she wants to continue working after we get our first child, so that means most of the money we'll be earning as DINKs (dual-income, no kids) will be used to pay off debts and build up a savings account. Unfortunately, the government will consider us "rich" for those DINK years of ours, which means our ability to save for the future will be curtailed.
Ten, YOU decided to move to OC.....probably the most expensive housing market in the country AND you were able to buy a home. There are many people who grew up in OC but can't afford to buy even a condo there; instead, they are forced to move elsewhere.
In other words, you are considered privileged. You were somewhat critical of the article I posted recently regarding couples leaving CA but in reality, it very much reflects conditions in CA. My friends are a couple of years younger than you and recently realized they would never be able to afford a house in CA no matter how hard they worked......so they're moving to NC. However, many people like you and your wife are choosing not to move. As a consequence, they are going through much of the same financial pain that you're experiencing. CA's cost of living is simply out of control.
Presumbably, you negotiated a substantive increase in your salary when you moved there........its called a cost of living raise. I hope you did. That's what a lot of CA tranferees are demanding. Its a fact of life.
I don't want to appear insensitive but frankly, do you want the whole country to maneuver around your life style or mine for that matter? Most people are not nearly as fortunate as you and your wife, and yet they have worked much harder. That's not to denigrate what you have accomplished but simply to put things in perspective.
As for sinking your whole savings into a house.......tell me about it. I will be doing the same shortly here in Seattle. Am I happy about it? Of course not! But I like living on the West coast......unfortunately, the most expensive part of the country in terms of housing. Lifestyle choices can cost heavy money. That too is a fact of life.
Do you see the point? My wife and I are hardly "super-rich," but we'd sure like to be. But here we are, living the American dream and taking advantage of all the opportunities that are offered us. We know that no one is just going to hand us a pot of gold, so we're going to save and invest whatever we can so that we and our future kids can live a life worth working for. But of course, a big chunk of our discretionary income will always be decided by the class warriors who decide for us whether we're "winning life's lottery" or not. It's as if we owe society a favor for being where we are. Try telling that to my wife face-to-face; I'm sure you'll get a rather colorful reaction. ;-)
First I am sure the 200k will be taxable income after deductions which means you probably have to be making at least $250K to qualify. [Now watch DR, the CPA, slam me on this one].<g>
Secondly, here's an article you might find interesting. [BTW I suggest working to get that 200K figure set higher rather than defending the wealthy people in the country.........they don't deserve your defense IMO.]
uslaboragainstwar.org
ted |
