things are tough all over

[hfojvt]

so I read this story about how tough it is for those making over $200,000 in this economy

http://finance.yahoo.com/news/bonus-withdrawal-puts-bankers-malaise-050100338.html

One guy feels strapped because of his kid's $32,000 tuition for private school and his vacation home in Connecticut.

Another, who is only 27, after a six week vacation in South America, a trip to Vegas, a ski weekend he gave as a gift to his parents (kudos for that though) and a trip to Ibiza (wherever the hell that is) now feels like he cannot afford a trip to New Orleans to be a judge in a wet t-shirt contest during Mardi Gras.

Who knew they had it so tough?

I do sort of feel bad for Schiff. He makes $350,000 a year, but he rents a small duplex. I would not want to rent half a house, and I can see how it would be hard to buy a house if the cheapest house is $1.5 million.

However, I am not sure why he cannot find a decent home somewhere for $400,000. He rents a summer home in Connecticut for four months, so apparently he can work from other places than Brooklyn. Are there really no homes in the whole state of Connecticut for less than $400,000?

Also, I cannot figure out why a neighborhood where houses are $1.5 million would not have really, really good public schools which would save him $32,000 a year. I suppose it is not really about education though. The $32,000 a year really gets your kid the childhood friendships with other children of the creme de la creme. It's not what she's gonna know when she graduates, it's who she is gonna know.

Still the $320,000 he plans to spend for ten years of her tuition is more than my lifetime earnings at age 50. Before I spent $300,000 on private school tuition, I would bank that money and send my kids to public schools. $300,000 would make one hell of a graduation present.

[russspeakeasy]

1. I can barely respond with the choking feeling and the tears streaming

down my cheeks. If you have his address, I'd like to send him a small donation and some "buy one get one free" coupons for Winn Dixie groceries.

did mit rmoney write this for him ?

[tech3149]

2. He could probably afford to drive down South to redeem those coupons at a Winn Dixie

I'm sure the gas stations along the way would appreciate the contribution. Just goes to p[rove how out of touch these idiots are with what the working class has to contend with.

[hfojvt]

3. some here would contend that those people are also working class, and not rich

after all, they cannot live off of their investments.

And according to the story, even people with $10 million in assets are feeling the pinch. I guess if you are used to making, and spending $500,000 a year and that income falls to $300,000 that a person would feel much poorer. They would have to give up things they used to be able to afford.

And that one guy in the story, has less square feet for a family of four than I do for my family of one (and three dogs). I have a dishwasher and he doesn't. (I almost never use mine). He has another family living above him and he pays rent, while I own my own home that is fully paid for.

Kinda odd considering that his income is $350,000 and mine is $12,000.

But I can see some of the choices he has made. He chose to spend almost 3 times my income on a private school. He chose to rent a home for 4 months every summer. Also, since he says that the down payment on a $1.5 million house would "wipe out his savings" that makes it sound like he has $300,000 in savings (20% of 1.5 million).

[Major Hogwash]

4. I guess he won't be buying that new Lexus until Christmas this year.

When they start running those annoying ads again.

[hfojvt]

8. my own sister bought one of those

for her 50th birthday.

My brother in law was sorta complaining, but he bought himself a motorcycle a few years ago. I suppose that saves on gas, but I am not sure if it ever will save enough to pay for itself and the extra insurance.

[raouldukelives]

5. He needs to fly some more.

That's quite a bit of climate change he is leaving as a legacy to the planet and it's inhabitants.

[hfojvt]

6. Who, the flyer or the driver?

I might argue that driving adds more carbon. When I flew to Europe, for example, that plane was going to Amsterdam whether I was on it or not. In fact, I think there were several empty seats. Plus I skipped the Stuttgart to Amsterdam leg on the way back, instead taking the train from Burbach to Amsterdam.

However, I wonder what uses more petroleum. A plane full of people flying from Minneapolis to New Orleans, or the same people driving their own cars that same distance. Probably a train would beat them both for fuel savings. Or a bus.

[hfojvt]

7. obligatory video

[DiverDave]

9. Oh BOO-FUCKING HOO!

I haven't been able to take ANY vacations for 6 years.
I wonder how loud the whines would be if silver spoons coming out their asses had to deal with THAT??

God, I just want to slap these whiny cry babies.

[hfojvt]

11. seriously?

That is pretty harsh, but I have never done anything like his "six weeks in South America" trip. My own vacations over the last six years, as best I can remember them, are things like 2007 - going to my parents house in Wisconsin for their 50th anniversary, 2009 - going to a campground in Wisconsin for my uncle's 50th anniversary, 2010 - going to my home town for my 30 year HS reunion. Those are about 1,000 mile driving trips, costing perhaps $100 in gasoline.

I guess I am not that big on blowing money on travel. When I get time off from work, I generally take staycations, or just pop over to my brother or sister's house some 30 miles away. I plan to go to Ireland someday, and it would be neat to see the Grand Canyon, but I am not making any plans for the immediate future or even two years out.

[DiverDave]

12. HUH?

Harsh?
Good for you, I'm GLAD someone had a vacation...I feel soooooo much better.

[hobbit709]

10. He knows where he can find sympathy in the dictionary.

[MrMickeysMom]

13. Between...

... "shit", and "syphilis" ???

[ErikJ]

14. Peter Schiff--famous Libertarian, gold bug and Connecticut Senate run last year?

Yes thats him. Radical Libertarian who ran for CT senate last yr as Republicon.

[hfojvt]

16. I guess this would be his little brother Andrew

Peter's probably doing much better, although Wiki says their dad is in prison for tax evasion.

[Tallulah]

15. a circular

"They have a circular that they leave in front of the buildings in our neighborhood," said Arbeeny, 49, who lives in nearby Cobble Hill, namesake for a line of pebbled-leather Kate Spade handbags. "We sit there, and I look through all of them to find out where it's worth going."

Imagine that. They used a circular !!!

You don't want to believe it, can't imagine it but yes, they are out of touch.

It's like they live on another planet, one they share with only their kind. How else can you explain their thinking ?