Okay, sorry its been so long since I"ve posted. A 1 year old keeps me very busy. Let me get to the point because I'm not even hearing the worlds smallest violins playing for this couple. In an interview on yahoo finance last week, this couple is saying how they are not rich at all and goes on to claim how they are just good old middle class family. On $250,000 a year?? REALLY?? I fell out of my chair upon reading this. They own a 2,500 sq ft home, own vacation homes, give $1,300 a month in tiding to their church. The wife goes on to say how her husband has to work seven days a week right now. Well I really can't go on so here are some highlighs from the interview:
Ellen Parnell and her husband, Donald Parnell Jr., seem like the kind of well-off couple President Barack Obama has in mind when he suggests raising taxes on families earning more than $250,000 a year. A surgeon at Fort Sanders Sevier Medical Center in Sevierville, Tenn., he drives an Infiniti. They vacation at a beach resort every year.Yet, right now he is working seven days a week. The car is more than a decade old, the vacation home in Sandestin, Fla., comes at a moderate weekly rate because members of Ms. Parnell's extended family own it.And heres the good one:
"I'm not complaining, but the reality is Obama may call me wealthy, but I thought we were just good old middle class," says Ms. Parnell. "Our needs are being met, but we don't have a load of cash to cover wants."I have news for you Ms. Parnell, there are hundreds of thousands of families going with out because their needs can't be met.
Some of the expenses are self-inflicted -- like private-school costs and conspicuous consumption. Others, though, are unavoidable, like child-care costs, larger health-care deductibles and education expenses, especially college.For the Parnells, their perception of themselves is based on the math. The value of their house is down $60,000. Ms. Parnell says the couple's gross income last year was about $260,000. Taxes, premiums for medical care and deductions for Social Security and their 401(k) contributions cut the gross to about $12,000 per month. The family tithes $1,300 a month at their church. Their mortgage, second mortgage and payment on land they bought is nearly $4,000 a month. Other expenses, including their family car payment, insurance and college funds, as well as basics like food, utilities and donations to charities, leave them with about $1,200 left over each month.
"I'm not after sympathy. We are blessed. What I want is a reality check on what rich means," Ms. Parnell says. "I can pay my mortgage and I can buy some clothes. I'm not going without, but I'm not living a life of luxury."Really? They're not living a life of luxury? Even after all the SS fees, medical, and 401k contributions they have $12,000 a month. I would be set and living large. I believe the poverty line is like $12,000 a year.
So let me know, do you agree or disagree with the Parnels?
