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Biden/Schumer/Pelosi Accountability Thread

This is another one of those boards topics we do every few years, right? Takes a pretty wild definition of "middle" for 200k to be middle class.
 
mako1331 said:
Move to bumfuck. You could live like a freakin' Bezos on 200k a year.
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Man I haven't sniffed that income level and I just moved from Winston to Greensboro last fall and it felt like a cost of living neutron bomb.
 
The what people live on always blows me away both directions. Like median 60,000 income for a family of 4, how do you pay for anything. Then opposite direction with like $200,000 the more money you make doesn't really change your lifestyle, yay more retirement and money into the market.
 
i mean, kory referenced middle class people owning a $10MM house the other day
 
Liquid Karma said:
Man I haven't sniffed that income level and I just moved from Winston to Greensboro last fall and it felt like a cost of living neutron bomb.
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The cost of living is cheaper or more in Greensboro? I would have thought it had been pretty much the same
 
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Louis Gossett Jr said:
The what people live on always blows me away both directions. Like median 60,000 income for a family of 4, how do you pay for anything. Then opposite direction with like $200,000 the more money you make doesn't really change your lifestyle, yay more retirement and money into the market.
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For real. $201K is top 10%. If your household makes over $200K a year, you’re rich, bitch!

The problem isn’t that you don’t make enough. The problem is the people in the top 1% make several times more than you which makes your dollars worse less. Income and wealth inequality decrease economic stability even for people who make far much more than most Americans.
 
200k or more when something bad happens it's an annoyance and not a catastrophe
 
Louis Gossett Jr said:
The what people live on always blows me away both directions. Like median 60,000 income for a family of 4, how do you pay for anything. Then opposite direction with like $200,000 the more money you make doesn't really change your lifestyle, yay more retirement and money into the market.
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Around here, and you want to buy a family house, the difference between $200k and $300k is pretty big. You're not scraping by at $200k, but you're not making it rain either. An extra $100k opens up private school, fancy vacations, third car, etc.
 
ChrisL68 said:
The cost of living is cheaper or more in Greensboro? I would have thought it had been pretty much the same
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More. Winston is cheap AF.

Not really complaining as a large part of that is housing cost/property value which over time will appreciate (I hope).
 
DistrictDeacon said:
Around here, and you want to buy a family house, the difference between $200k and $300k is pretty big. You're not scraping by at $200k, but you're not making it rain either. An extra $100k opens up private school, fancy vacations, third car, etc.
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Sure. But the difference between $200K and $300K is nowhere near the difference between $100K and $200K. $300K is around the top 4%.
 
A couple living in Manhattan making a combined $200k with kids ain't anywhere close to rich.

An extreme example for sure but this is why context and location matter when discussing what average incomes are considered "middle class" compared to "rich".
 
PhDeac said:
Sure. But the difference between $200K and $300K is nowhere near the difference between $100K and $200K. $300K is around the top 4%.
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Good call, doc.

Last time I checked a 50% increase was in fact less than an increase of 100%.
 
PhDeac said:
Sure. But the difference between $200K and $300K is nowhere near the difference between $100K and $200K. $300K is around the top 4%.
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But to the original point, going from $200k to $300k certainly changes your day-to-day lifestyle.
 
I think the point is that $100 to $200 is life changing and provides financial security.

$200-300 you’re just saving more or buying things you don’t need.
 
DeaconCav06 said:
I think the point is that $100 to $200 is life changing and provides financial security.

$200-300 you’re just saving more or buying things you don’t need.
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Exactly.
 
ha i mean, cards on the table we're right at $200k with two incomes, and we live in a 900 sq ft apartment in an "up and coming" neighborhood and the day care center down the street that costs $2500 a month is gonna be a pretty serious chunk of take home pay. it won't bankrupt us but it will more or less stop our ability to save for a few years til pre-school. we could move five miles north or three miles west and live like kings but also we like DC and what we can do here, so it's more a choice than a situation forced on us like actual working class or poor people.

i suspect the $ isn't dissimilar in parts of the triangle too, anywhere starter homes are 550k+
 
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