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?
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4 comments:
I would do fine on $12,000 a month, but I understand that "rich" is subjective and they are the ones living their lives. If they've worked hard to earn what they earn, I don't understand why they should be taxed EXTRA. It's almost like a punishment for making wise choices. This is one of my issues with Democrats. Let's punish some of the families who are making good financial choices so we can give free money to the ones that aren't. I know this is not the case in ALL situations (I'm not a die hard Republican, either), but it seems to be a prevailing attitude.
On a different note, I don't consider private school to be a self-inflicted expense. My family also is black and middle class (although not as "middle" as this couple) and we didn't have gobs of money, but we went to private high schools and took educational vacations/study abroad trips to Europe - why? Because it levels the playing field.
Many white families do this as a given. Why shouldn't we? For my family, it meant saving for such things and sometimes scrimping, but each family decides for themselves what's non-negotiable.
And for the record, it's TITHING to their church, not tiding.
What in under god? They can afford private schools, medical insurance, retirement panning, college and vacations, and I am seriously meant to be crying for them because they aren't that rich really? The hell with that. I'll save my sympathy for people who need it.
Also, what they tithe a month is more than what I make a month, so seriously. Not interested.
New Doctors struggle. The college debt that they pay off is around 300,000 Most work very, very long hours and after Med School they have ongoing education costs that add up too. They are about 30 by the time they graduate and have worked much much harder than any of their non doctor peers and have lived on scraps from 18 to 30. But yes over the long haul they make enough to live nicely. If you would like to go to the dumb doctor when you need an operation raise your hand... Oh.. you want the best of the best, but you want them to be happy with plumbers pay.
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