middle class, educated and hungry

[boedicca]

the average family of 5 spends less than $1000 a month on food

Survey: How Much Do You Spend on Food?
How much should you spend on groceries? - Business - U.S. business - Food Inc. - msnbc.com
How much money shoud a family of 5 spend on groceries a month? - Yahoo! Answers
The Average Cost of Groceries Per Person: Best Guesses | Personal Finance Analyst


right, that person making $250k is paying 40% taxes. in what world do you live in? current tax rates put that at 33% before deductions, which the mythical person would qualify for with a wife and 3 kids

a $1,000,000 home in Laguna Beach, CA based on the website below shows $6,700 in property taxes. nice try tho

The Property Tax Estimator - estimate current and prospective property taxes.

Then that $1M home in Laguna Beach was purchased for less than $670K as the property tax rate in CA is 1% of the assessed value (purchase price + value of subsequent improvements inflated at 2% per year). Most cities and counties tack on extra fees and local taxes, resulting in rates of 1.25% - 1.5%.

EDIT: Your website is bogus. I went to my city and clicked on the assessed value of my home, and the results were about half of what I pay per year. We pay two installments for property taxes per year - so it looks like your website is only factoring in one of them.

I live in the real world and actually pay taxes; and don't believe that paying $7 per day for food makes somebody RICH. Nor do I accept MSNBC as the authoritative source to tell me how much I, or anybody else, SHOULD pay for food.

so double the property taxes, that makes $13,400 or triple it to $20,100. which is still nowhere near $100k. i wasnt trying to claim the website as exactly accurate, it was simply to dispel the notion of $100k in property taxes.

i never said someone should follow MSNBC's "rules" for buying food. i posted several examples of a family of 5 spending less than $1000 per month on food. i mean OMG how does a family of 5 living on $80,000 a year afford to eat by your logic? they make 3 times less than our mythical $250k earner. do you think that have the means to spend $1000 a month every month on food?


you keep using the food argument with no response to a $1M home, 2 SUV's and 3 kids. you make it sound like these people are somehow poor and need more help.

I'm not saying they are Poor; I'm disputing your class warfare nonsense that they are The Rich.

A breakdown direct taxes on a two earner $250,000 income

Federal Income Taxes - $32,000
State Income Tax - $11,000
FICA/Medicare- $15,300
Property Tax - $9,000
Sales Tax- $2,000
Gasoline Tax - $2,000
Phone Tax - $300
AMT hit -$1,300

This totals $73K of direct taxes, 29% of their total income. The indirect taxation buried in everything they purchase drives the total up to approximately 40% of their income. For a reality check - total Government Spending as a % of GDP is now 45%.

Thinking that such a family can be bled further is nonsense. They are the ones who are quitting with piano lessons for their kids.

 

[boedicca]

Well, as being RICH means one spends $7 PER DAY ON FOOD, those people from last year probably didn't have enough in their Federally Approved Daily Meal Budget to include her and the kids at their holiday feast.

I spent $7.50 @ Subway... I must be a frigg'n millionaire!

According to Common Sense, you are RICH!!!!!!!!!!!

 

[Soggy in NOLA]

Well, as being RICH means one spends $7 PER DAY ON FOOD, those people from last year probably didn't have enough in their Federally Approved Daily Meal Budget to include her and the kids at their holiday feast.

I spent $7.50 @ Subway... I must be a frigg'n millionaire!

According to Common Sense, you are RICH!!!!!!!!!!!

Seriously.. Subway is getting ridiculous. $7.50 or a freaking sub, chips and an Ice-tea?

 

[boedicca]

He's insinuated that spending $50 per week per person for FOOD makes one RICH.

 

[Soggy in NOLA]

Didn't the Bernanke tell us we're in a deflationary spiral?

How fucking dumb is that guy... I guess that's another thread.

 

[Avatar4321]

I'm scared already. I had an ok lunch, Subway to be exact. But shortly I too will be faced with the dilema... leftover gumbo? Perhaps pizza? A mere salad.

Oh... what to do. It;s all very challenging this menu insecurity.

Well i think that we clearly need Federal legislation to address the menu insecurity problem.

 

[boedicca]

Didn't the Bernanke tell us we're in a deflationary spiral?

How fucking dumb is that guy... I guess that's another thread.

Well, if we exclude energy, food, and commodities, and only consider housing prices, he might be right.

 

[Soggy in NOLA]

He's insinuated that spending $50 per week per person for FOOD makes one RICH.

Translation - "I don't have $50/week to spend, so neither should you"

Anyhoo... $50 a week? I spend twice that, at least.. between groceries and dining out.

 

[Avatar4321]

Didn't the Bernanke tell us we're in a deflationary spiral?

How fucking dumb is that guy... I guess that's another thread.

you have to remember they don't factor food and energy into inflation anymore.

 

[Dis]

Well, as being RICH means one spends $7 PER DAY ON FOOD, those people from last year probably didn't have enough in their Federally Approved Daily Meal Budget to include her and the kids at their holiday feast.

I spent $7.50 @ Subway... I must be a frigg'n millionaire!

There's part of your problem - if you're going to eat junk food, your money would be better spent on McDonalds dollar menu - and you'd have change to boot!

 

[boedicca]

As I have noted, the lifestyle of the typical family making $250,000 is not RICH, it's just on the better off end of the middle class spectrum.

 

[Soggy in NOLA]

Didn't the Bernanke tell us we're in a deflationary spiral?

How fucking dumb is that guy... I guess that's another thread.

you have to remember they don't factor food and energy into inflation anymore.

I dunno.... I spent $38 at Zuppardos Saturday.. I swear, I had three little bags of stuff. Damn Milk Bones are ridiculous!

 

[Dis]

As I have noted, the lifestyle of the typical family making $250,000 is not RICH, it's just on the better off end of the middle class spectrum.

Funny.. That's what I said, and I was told that instead, I said I'm "struggling".

 

[Soggy in NOLA]

Well, as being RICH means one spends $7 PER DAY ON FOOD, those people from last year probably didn't have enough in their Federally Approved Daily Meal Budget to include her and the kids at their holiday feast.

I spent $7.50 @ Subway... I must be a frigg'n millionaire!

There's part of your problem - if you're going to eat junk food, your money would be better spent on McDonalds dollar menu - and you'd have change to boot!

I can't do McDonalds... I feel arteries closing with every bite.

 

[Common Sense]

Well, as being RICH means one spends $7 PER DAY ON FOOD, those people from last year probably didn't have enough in their Federally Approved Daily Meal Budget to include her and the kids at their holiday feast.

I spent $7.50 @ Subway... I must be a frigg'n millionaire!

According to Common Sense, you are RICH!!!!!!!!!!!

do you spend more than $1000 a month on food?

 

[Soggy in NOLA]

I spent $7.50 @ Subway... I must be a frigg'n millionaire!

According to Common Sense, you are RICH!!!!!!!!!!!

do you spend more than $1000 a month on food?

Jesus... no. Of course, If I bury my bar tabs in grocery purchases.. then maybe.

 

[boedicca]

I spent $7.50 @ Subway... I must be a frigg'n millionaire!

According to Common Sense, you are RICH!!!!!!!!!!!

do you spend more than $1000 a month on food?

Oh, more than that. We probably spend close to that just on dining out.


And here you go, kiddo. Read this and get back to us about how all those $250Kers are RICH.

http://www.washingtonpost.com/wp-dyn/content/story/2010/12/11/ST2010121100365.html

 

[Soggy in NOLA]

According to Common Sense, you are RICH!!!!!!!!!!!

do you spend more than $1000 a month on food?

Oh, more than that. We probably spend close to that just on dining out.

Oh.. bartabs, dining out and groceries? Easily $1,500.

 

[boedicca]

do you spend more than $1000 a month on food?

Oh, more than that. We probably spend close to that just on dining out.

Oh.. bartabs, dining out and groceries? Easily $1,500.

Oh you Bad Man, don't you feel guilty?

 

[Common Sense]

Then that $1M home in Laguna Beach was purchased for less than $670K as the property tax rate in CA is 1% of the assessed value (purchase price + value of subsequent improvements inflated at 2% per year). Most cities and counties tack on extra fees and local taxes, resulting in rates of 1.25% - 1.5%.

EDIT: Your website is bogus. I went to my city and clicked on the assessed value of my home, and the results were about half of what I pay per year. We pay two installments for property taxes per year - so it looks like your website is only factoring in one of them.

I live in the real world and actually pay taxes; and don't believe that paying $7 per day for food makes somebody RICH. Nor do I accept MSNBC as the authoritative source to tell me how much I, or anybody else, SHOULD pay for food.

so double the property taxes, that makes $13,400 or triple it to $20,100. which is still nowhere near $100k. i wasnt trying to claim the website as exactly accurate, it was simply to dispel the notion of $100k in property taxes.

i never said someone should follow MSNBC's "rules" for buying food. i posted several examples of a family of 5 spending less than $1000 per month on food. i mean OMG how does a family of 5 living on $80,000 a year afford to eat by your logic? they make 3 times less than our mythical $250k earner. do you think that have the means to spend $1000 a month every month on food?


you keep using the food argument with no response to a $1M home, 2 SUV's and 3 kids. you make it sound like these people are somehow poor and need more help.

I'm not saying they are Poor; I'm disputing your class warfare nonsense that they are The Rich.

A breakdown direct taxes on a two earner $250,000 income

Federal Income Taxes - $32,000
State Income Tax - $11,000
FICA/Medicare- $15,300
Property Tax - $9,000
Sales Tax- $2,000
Gasoline Tax - $2,000
Phone Tax - $300
AMT hit -$1,300

This totals $73K of direct taxes, 29% of their total income. The indirect taxation buried in everything they purchase drives the total up to approximately 40% of their income. For a reality check - total Government Spending as a % of GDP is now 45%.

Thinking that such a family can be bled further is nonsense. They are the ones who are quitting with piano lessons for their kids.

did you even read my post where i assumed a 25% tax bracket which then led to $187,500 in after tax income? this in turn is approx $15,625 per month after tax. which is what i based everything upon.

you cant claim half of what they pay in the income tax bracket:

Sales Tax- $2,000
Gasoline Tax - $2,000
Phone Tax - $300

nor did you take into account any deductions for children, marriage or interest deduction. by your mythical logic if i included sales tax, gas tax, phone tax and every other tax on consumer good, id probably be paying 50% of my income to taxes.

so take the $4300 out of your equation and you get 27% marginal tax rate before deductions. nice voodoo math