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Politics : View from the Center and Left

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To: Mark Mandel who wrote (209537)	11/26/2012 11:04:26 AM
From: Sun Tzu	Read Replies (2) of 540882

Here is an eye opener from Forbes: "On the Upper East Side of Manhattan, a million dollars can get you as little as an 895-square-foot one-bedroom apartment. In Los Angeles, a 2,250-square foot three-bedroom abode in Hollywood Hills. But in Dayton, Ohio, a million dollars fetches luxury: a 12,000-square-foot estatejust outside of the city limits equipped with personal gym and home theater, nestled on five acres of land." So earning $250k in Manhattan is not the same as earning it in Dayton Ohio. And the expense ratio is not much different for having a night out or hiring tutor for your kids or whatever. If the tax system was fair, it would properly take this into account. The notional value of what you earn is not a measure of how rich your are. BTW, very very few people in the world feel "rich". To most people, "rich" means someone who makes 3x what they earn. ST

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