Re: Should someone who earns $1 billion a year be taxed more than someone who makes $
Monthly Expenses | Guerrilla | Standard of living | Notes |
food | $440 | $450 | 450 sounds reasonable if you make all your meals at home and buy in bulk. |
childcare | $0 | $200 | $10/day * 20 days a month |
medical | $100 | $200 | for a family of 2 or more, its at LEAST $200 a month for complete coverage. I pay $282 for myself and wife from a company with outstanding benefits. I don't know how you only pay $100/month for 3-4 people. |
mortgage | $470 | $800 | Low end rental rates are about $800 for 2-3 bedroom. Purchasing a home today even with low interest rates still puts you above $800/month not including insurance, PMI, repairs, etc (150k house, 5.5% rate, 30 years). So i think at LEAST $800 is a more reasonable number for the average American. |
transport | $71 | $318 | $50 to fill tank and fill 2.5 times per month = $150
Registration = $60/12month=$5/month. Car insurance minimum coverage $1/day → $30/month
Car payments = $5000 vehicle with 5 year loan at 0% APR = $83/month
Assume about $50/month for repairs/oil change/maintenance/tires/etc
|
other | | $60 | Other: toiletries, clothes, shoes, phone, tv/internet |
utils | | $200 | electricity, gas, trash/sewer, water, prop taxes, home owners/renters insurance
|
| | | |
Monthly total | $1,081 | $2,228 | |
Yearly total | $12,970 | $26,736 | |
These are just basic necessities.
If they are a verifiable example of the American public, the problems are of their own doing.
If I'm the Queen of England.... you get the picture.
I think you highly over estimate that state of affairs in the US. As indicated by your own spending, you have a significant advantage many others do not with extremely small rent, medical insurance, etc. As the analysis shows, the 25k/year income can only sustain the most basic needs of an American family and that is with no extra money left over whatsoever! These are just basic necessities,
A couple hundred a month certainly can pay for retirement, compounding interest and a dedicated savings plan would see to that.
What type of rate and return are you anticipating exactly?
CPI has been about 2-3% inflation per year.
Stock market returns for last 100 years is about 9-10% per year.
Calculate compound interest
Lets assume you work and save from the time you are 25 to a 70 (45 years)
Assume a yield of 7%. And monthly contribution of $200.
You will have $760,000 in saving for retirement. How many years of living does that provide you if there is no SS or other benefits?
Lets calculate on the very high side:
Lets assume you work and save from the time you are 20 to a 75 (55 years)
Assume a whooping yield of 9%!!! And monthly contribution of $200.
You will have $3,700,000 in saving for retirement. How many years of living does that provide you if there is no SS or other benefits?
So looks like if you can save +$200 a month you will probably be OK.... if you start early.
Ethically, it is wrong to make people pay for damages they did not incur.
Members of a society both reaps rewards and share the burden of consequences. Everyone is responsible for their fair share, rich or poor.
I take care of a family member that was born with a life long physical disability, that was shuffled around to different family members because their parents did not want the responsibility.
Luck has nothing to do with it.
How does that have anything to with your LUCK being:
1 born intelligent
2 in this country
3 in this time period
4 without cerebral palsy
5 without downs syndrome
6 not orphaned before the age of five
It's all about your response to bad circumstances.
Make the better choice and you can lessen those negative effects.
Just as Sam said, you attempt to claim credit for the above things when you had no hand in their outcome whatsoever!
Nope, I had help from others, but my response to those events was the make or break moment, of whether or not, I succeed or fail.
How did you personally ensure that you were:
1 born intelligent
2 born in this country
3 born in this time period
4 able to avoid cerebral palsy, cancer, etc
5 born without downs syndrome
6 not orphaned before the age of five
According to you happenstance and chance (luck) had nothing to do with it!:roll: No one is trying to take credit where credit its deserved. But its astounding arrogant to take credit where none is earned. And the above things ( among many many many more things)
you did not earn!