Home › Forums › Housing › OT: Where the 1 Percent Fit in the Hierarchy of Income – Interactive Graphic – NYTimes.com
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sdrealtor.
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May 1, 2012 at 1:35 PM #19740May 1, 2012 at 1:42 PM #742569
sdrealtor
ParticipantI was surprised by the pay for a NYC Cop (5 yrs exp) around only $77K. I have had clients with similar exp around here making 30%+ more. Gotta be a tougher job there and the cost of living is much higher there also.
May 1, 2012 at 1:53 PM #742574
CoronitaParticipantI’d like to see the numbers before and after taxes. I’d say a majority of the folks in the 90-99% category end up much lower after bending over…
May 1, 2012 at 2:02 PM #742576poorgradstudent
Participant[quote=flu]I’d like to see the numbers before and after taxes. I’d say a majority of the folks in the 90-99% category end up much lower after bending over…[/quote]
Probably about 20% lower? Of course, then you’d have to factor after taxes in for everyone. Rich people don’t pay THAT much more in taxes than the middle class. Especially if they have investment/dividend income, like Mitt Romney, who paid a lower tax rate than I did last year.May 1, 2012 at 2:08 PM #742580Anonymous
Guest[quote=sdrealtor]I was surprised by the pay for a NYC Cop (5 yrs exp) around only $77K. I have had clients with similar exp around here making 30%+ more. Gotta be a tougher job there and the cost of living is much higher there also.[/quote]
Agree. $77K in NYC doesn’t go far.
May 1, 2012 at 2:14 PM #742585Guest[quote=flu]I’d like to see the numbers before and after taxes. I’d say a majority of the folks in the 90-99% category end up much lower after bending over…[/quote]
You need to think about the math on that one.
Remember that word again: “marginal”
May 1, 2012 at 2:14 PM #742586CoronitaParticipant[quote=poorgradstudent][quote=flu]I’d like to see the numbers before and after taxes. I’d say a majority of the folks in the 90-99% category end up much lower after bending over…[/quote]
Probably about 20% lower? Of course, then you’d have to factor after taxes in for everyone. Rich people don’t pay THAT much more in taxes than the middle class. Especially if they have investment/dividend income, like Mitt Romney, who paid a lower tax rate than I did last year.[/quote]Actually, if it was ordinary income, some of ends up being taxed fed+state close to 27%-30%..
Romney types that have offshore tax havens, on the other hand, I’d agree with you.
May 1, 2012 at 2:21 PM #742587CoronitaParticipant[quote=pri_dk][quote=flu]I’d like to see the numbers before and after taxes. I’d say a majority of the folks in the 90-99% category end up much lower after bending over…[/quote]
You need to think about the math on that one.
Remember that word again: “marginal”[/quote]
No, I just need to look at my 2011 Taxes, and see the number…
What’s missing here? Very simple…Our tax law is not “fair” in any sense. It’s not just about the actual amount you make at all. It’s how you make it.You could have a seemingly large(r) ordinary income and pay up the noses if you have absolutely no writeoffs and effectively end up have much less, that someone who making a much less ordinary income and a crapload of writeoffs (bullshit or real)
I’ve said it all along. Dumb people only look at seeing how much raise they get on a W2 and judge wealth based on that number, and not look at how tax efficient they are (me included).
May 1, 2012 at 2:26 PM #742589GuestYes, but just about everybody pays roughly 30% in total taxes, except at the extremes of income.
What I thought you meant (and now see that I read it wrong) was that someone could have their income taxed to a point that they would come out below someone who was earning less – the common misconception that there is a “penalty” for earning more and that there is somehow a negative return with higher income due to taxes…
Anyway, my mistake.
May 1, 2012 at 4:07 PM #742595UCGal
Participant[quote=flu][quote=pri_dk][quote=flu]I’d like to see the numbers before and after taxes. I’d say a majority of the folks in the 90-99% category end up much lower after bending over…[/quote]
You need to think about the math on that one.
Remember that word again: “marginal”[/quote]
No, I just need to look at my 2011 Taxes, and see the number…
What’s missing here? Very simple…Our tax law is not “fair” in any sense. It’s not just about the actual amount you make at all. It’s how you make it.You could have a seemingly large(r) ordinary income and pay up the noses if you have absolutely no writeoffs and effectively end up have much less, that someone who making a much less ordinary income and a crapload of writeoffs (bullshit or real)
I’ve said it all along. Dumb people only look at seeing how much raise they get on a W2 and judge wealth based on that number, and not look at how tax efficient they are (me included).[/quote]
It’s not just tax havens. It’s the different tax rate between capital gains and w-2 income.For two years, under Reagan, unearned and earned income were taxed at the same rate. It’s something we should consider doing going forward.
Under Clinton the cap gains rate went back down to 20%, then under Bush’s cuts, it went down to 15%… much lower than many people’s marginal income tax rate.
Why not tax all income the same. That would bring Romney’s tax rate up, and FLU’s tax rate down.
May 1, 2012 at 4:12 PM #742596CA renter
Participant[quote=sdrealtor]I was surprised by the pay for a NYC Cop (5 yrs exp) around only $77K. I have had clients with similar exp around here making 30%+ more. Gotta be a tougher job there and the cost of living is much higher there also.[/quote]
If you look at the corrections/notes on the bottom, you’ll see that they backed out the overtime for the doctor. I’m guessing that the income for the police officer might be the base salary for full-time work. Check out the public records for cops around here, and you’ll see they make about the same or less than the NYC cop.
May 1, 2012 at 4:13 PM #742597Participant[quote=UCGal][quote=flu][quote=pri_dk][quote=flu]I’d like to see the numbers before and after taxes. I’d say a majority of the folks in the 90-99% category end up much lower after bending over…[/quote]
You need to think about the math on that one.
Remember that word again: “marginal”[/quote]
No, I just need to look at my 2011 Taxes, and see the number…
What’s missing here? Very simple…Our tax law is not “fair” in any sense. It’s not just about the actual amount you make at all. It’s how you make it.You could have a seemingly large(r) ordinary income and pay up the noses if you have absolutely no writeoffs and effectively end up have much less, that someone who making a much less ordinary income and a crapload of writeoffs (bullshit or real)
I’ve said it all along. Dumb people only look at seeing how much raise they get on a W2 and judge wealth based on that number, and not look at how tax efficient they are (me included).[/quote]
It’s not just tax havens. It’s the different tax rate between capital gains and w-2 income.For two years, under Reagan, unearned and earned income were taxed at the same rate. It’s something we should consider doing going forward.
Under Clinton the cap gains rate went back down to 20%, then under Bush’s cuts, it went down to 15%… much lower than many people’s marginal income tax rate.
Why not tax all income the same. That would bring Romney’s tax rate up, and FLU’s tax rate down.[/quote]
UCGal for President! 🙂
May 1, 2012 at 4:17 PM #742598Participant[quote=CA renter][quote=sdrealtor]I was surprised by the pay for a NYC Cop (5 yrs exp) around only $77K. I have had clients with similar exp around here making 30%+ more. Gotta be a tougher job there and the cost of living is much higher there also.[/quote]
If you look at the corrections/notes on the bottom, you’ll see that they backed out the overtime for the doctor. I’m guessing that the income for the police officer might be the base salary for full-time work. Check out the public records for cops around here, and you’ll see they make about the same or less than the NYC cop.[/quote]
Much higher cost of living, much tougher job and much more dangerous job. Shouldnt they make much more and not the same?
May 1, 2012 at 4:34 PM #742600Participant[quote=sdrealtor]Much higher cost of living, much tougher job and much more dangerous job. Shouldnt they make much more and not the same?[/quote]
Where are you getting your info? You think being a NYC cop is more difficult than LAPD?
May 1, 2012 at 4:44 PM #742601ParticipantUhhhh…yes. Much harder. How much time have you spent in NYC and seen how much more dangerous life is there. Throw in working in snow, rain and extreme heat/humidity on top of it. LA is a cushy beat compared to NYC. But I was referring to a salary I saw for a Carlsbad cop any way.
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