Why I talk about money frequently.

This is a little widget  from an interesting post about the Obamas’ income showing where your household income is in national percents.

But, brass tacks and all.  Top 1% starts at 430k/year, for 2014 incomes.

Top 30-50%: 55k-85k

Top 25-30%: 86k-96k

Top 10-25%: 97k-150k

Top 6-10%: 155k-205k

Top 5%: 210k-230k

Top 4%: 235k-260k

Top 3%: 270k-320k

Top 2%: 340k-420k

Look at how narrow the ranges are, even for the highest income levels.  It’s really hard to get up into the higher percents even with two incomes.

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8 thoughts on “Why I talk about money frequently.”

  1. I suspect some people would be surprised at the fact that the top 1% starts off at such a low amount. We tend to think of the 1% as a bunch of multi-millionaires and billionaires, not really successful small and medium business owners, lawyers, and doctors.

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    1. Exactly, and they work their way up with a lot of sweat, a lot of frustration and a lot of failure in the mix. And when they’re successful, guess what — they provide the jobs for all those people who are in the same boat they once were. And they fund things like the music academy my children attend — our children couldn’t even think of being as well trained in music as they are without the generosity of these so-called “elite”. With six children it was simply not possible to pay for lessons for all of them.

      And then people look at me with hostility when I refuse to sign the petition to get the minimum wage increase on the ballot…..although I did give quite a lecture to a twentysomething kid who was out with the petition, while he was trying to convince me why the minimum wage should be raised. I explained to him how that would destroy small business and lead to a decrease in jobs; overall, he would lose.

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      1. STMA,

        I’d be tempted to ask him how much he is making on the petition drive and then make big eyes that he wasn’t getting at least $15 an hour. “Why aren’t they paying you more than that?” Then just shut up and listen.

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      2. I think people would be interested to learn the history of minimum wage is actually a rather racist one…or that it would increase youth unemployment.

        Most people don’t like the truth so I keep my mouth shut. I used to be a supporter of minimum wage hikes until I did the research, although I’m still a believer of paying people a wage commensurate to their responsibilities and skills level. When I see certain jobs at the airport where workers are saddled with flyer and equipment responsibilities yet are only paid $10/hr, I cringe.

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        1. The one that kills me in our area is the college pool. The last time I checked, they were paying only $8 an hour to lifeguards, which is ridiculous for a person with life-saving responsibilities. Plus, other work study positions that pay the same offer a lot more opportunities for study (you know how student workers often have a big textbook open at their desks)…

          They are chronically short on lifeguards and sometimes have to close the pool because of not having enough coverage…It’s annoying, because I’m 100% sure that an extra $2 would fill those slots.

          Also (and this is even scarier), when a commercial pilot cousin of mine was first flying professionally some years ago, he was getting paid a whopping $18k a year to fly small passenger planes for a small company…And he had to do it to get the hours to keep up his qualifications…But he eventually made the big time. But I still hate the idea of putting my life into the hands of a guy making $18k.

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          1. “which is ridiculous for a person with life-saving responsibilities.”

            Agreed. But a lot of kids who really want to work will work their brains out for whatever they can get, and thus establish a reputation and a résumé. I was paid $5 an hour to be a teacher’s assistant, run the front office (after assistant-teaching all day long) and all the innumerable responsibilites that came with it. I put in twelve-hour days. I got a $1.50 raise per hour after the first year, then they hired me as a teacher the year after that. A lot of days I worked a twelve-hour day, but this time on salary. Found out after number-crunching that I was making less salaried than I had been when paid per hour……only difference was that I was now working five days a week instead of only three. Two years later I was replaced by a person who had had less classroom time than I, only had to work eight hours instead of the up to twelve I was working — and she got $3,000 per month more than I was getting? Why? She had her degree already, while I was still going to school nights to finish…..I was not very happy AT ALL.

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