Rich (Now with the Upper Middle Class) - Page 5 - Politics and Economics

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Rich (Now with the Upper Middle Class)

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09-21-2010 , 11:21 PM

#101

goofyballer

Carpal \'Tunnel

Join Date: Jun 2005 Posts: 70,719

Quote:

Originally Posted by mjkidd

If a person has to choose between commuting 3 hours a day and not saving any money then he isn't rich imo.

lol. I voluntarily live (in SF) 25 miles away from my job, and I commute 1 hour a day. You can find cheaper homes way closer to SF than places that require commuting 3 hours a day.

09-21-2010 , 11:21 PM

#102

Autocratic

Carpal \'Tunnel

Join Date: Jan 2005 Posts: 11,276

Quote:

Originally Posted by mjkidd

No, I mean physically identical but in different cities.

Sooo by rich you're really just referring to bank account totals?

09-21-2010 , 11:21 PM

#103

SenorKeeed

mew mew mew

Join Date: Jul 2006 Posts: 37,478

Quote:

Originally Posted by PoBoy321

And how is a nice house in a nice city not a luxury good, again?

People have to live where they work. And personally I don't consider living in SF intrinsically more luxurious than living in a cheaper city.

09-21-2010 , 11:23 PM

#104

SenorKeeed

mew mew mew

Join Date: Jul 2006 Posts: 37,478

Quote:

Originally Posted by goofyballer

lol. I voluntarily live (in SF) 25 miles away from my job, and I commute 1 hour a day. You can find cheaper homes way closer to SF than places that require commuting 3 hours a day.

How much would a nice 3000 square foot four bedroom house cost in your neck of the woods?

09-21-2010 , 11:24 PM

#105

PoBoy321

Carpal \'Tunnel

Join Date: Aug 2004 Posts: 9,982

Quote:

Originally Posted by mjkidd

People have to live where they work. And personally I don't consider living in SF intrinsically more luxurious than living in a cheaper city.

How close to their work do they have to live? Since it's already come up, and I know about it, if you work in Manhattan, do you have to live in Manhattan? Do you have to live on the Upper East Side? Do you have to live in a $13m penthouse? If you choose to live somewhere that will eat up your $250K/yr, when there are obviously alternatives, how is living in the luxurious house not a luxury good?

09-21-2010 , 11:25 PM

#106

EricLindros

Pooh-Bah

Join Date: Jan 2007 Posts: 4,536

Quote:

Originally Posted by mjkidd

People have to live where they work. And personally I don't consider living in SF intrinsically more luxurious than living in a cheaper city.

Buy a pup tent, you blue-blooded swine.

Houses are luxury items.

Actually, pup tents are luxury items too. Make one out of sticks and some thatch.

09-21-2010 , 11:28 PM

#107

SenorKeeed

mew mew mew

Join Date: Jul 2006 Posts: 37,478

Length of commute is also a factor in my rich/not rich algorithm. It becomes very difficult to be considered rich if your commute approaches two hours per day.

09-21-2010 , 11:28 PM

#108

PoBoy321

Carpal \'Tunnel

Join Date: Aug 2004 Posts: 9,982

Quote:

Originally Posted by mjkidd

Length of commute is also a factor in my rich/not rich algorithm. It becomes very difficult to be considered rich if your commute approaches two hours per day.

Why?

Let's go back to Manhattan. If I work in Manhattan, but commute 2 hours a day so that I can live in a mansion in Chappaqua, does that make me not rich?

09-21-2010 , 11:29 PM

#109

SenorKeeed

mew mew mew

Join Date: Jul 2006 Posts: 37,478

It's a subjective judgment on how I determine if someone is rich or not. It's fine if you have a different definition.

09-21-2010 , 11:32 PM

#110

Autocratic

Carpal \'Tunnel

Join Date: Jan 2005 Posts: 11,276

Quote:

Originally Posted by mjkidd

Length of commute is also a factor in my rich/not rich algorithm. It becomes very difficult to be considered rich if your commute approaches two hours per day.

Depends on whether your driver stops to get you coffee imo.

09-21-2010 , 11:32 PM

#111

FlyWf

It's the other way

Join Date: Apr 2004 Posts: 58,090

mjkidd- What percentage of the population do you think qualifies as rich?

09-21-2010 , 11:32 PM

#112

SenorKeeed

mew mew mew

Join Date: Jul 2006 Posts: 37,478

To elaborate, as I said above, asking the question "How much freedom is a person's financial situation buying him?" is a good way of determining if someone is rich or not. For a person spending 15% of his conscious day (and even more of his free time) commuting, the answer to that question is "not much".

09-21-2010 , 11:32 PM

#113

[Phill]

Carpal \'Tunnel

Join Date: Jun 2004 Posts: 52,717

Bahahahahahahaha at including commute time in terms of rich or poor. How do you not see how illogical that is?

09-21-2010 , 11:34 PM

#114

FlyWf

It's the other way

Join Date: Apr 2004 Posts: 58,090

mjkidd, others- You guys know that phrases like "super rich" and "idle rich" are in somewhat common usage, right?

09-21-2010 , 11:34 PM

#115

SenorKeeed

mew mew mew

Join Date: Jul 2006 Posts: 37,478

Quote:

Originally Posted by FlyWf

mjkidd- What percentage of the population do you think qualifies as rich?

Probably 5-7% or so.

09-21-2010 , 11:35 PM

#116

PoBoy321

Carpal \'Tunnel

Join Date: Aug 2004 Posts: 9,982

Quote:

Originally Posted by mjkidd

Probably 5-7% or so.

Oh god, I just came.

You know that only 2% of the population makes >$250K/yr, right?

09-21-2010 , 11:35 PM

#117

FlyWf

It's the other way

Join Date: Apr 2004 Posts: 58,090

Quote:

Originally Posted by mjkidd

Probably 5-7% or so.

Where do you think a $250k income puts you, then? Please don't look it up.

09-21-2010 , 11:36 PM

#118

SenorKeeed

mew mew mew

Join Date: Jul 2006 Posts: 37,478

Probably close to the top 1%.

09-21-2010 , 11:37 PM

#119

FlyWf

It's the other way

Join Date: Apr 2004 Posts: 58,090

Yep.

09-21-2010 , 11:37 PM

#120

ikestoys

banned

Join Date: Nov 2006 Posts: 94,424

DIE ARGUMENT DIEEEEEEEEEE

09-21-2010 , 11:38 PM

#121

SenorKeeed

mew mew mew

Join Date: Jul 2006 Posts: 37,478

lol do you think you've caught me in an inconsistency?

09-21-2010 , 11:40 PM

#122

SenorKeeed

mew mew mew

Join Date: Jul 2006 Posts: 37,478

Quote:

Originally Posted by PoBoy321

Oh god, I just came.

You know that only 2% of the population makes >$250K/yr, right?

I thought it was closer to 1%, but sure. Most people making 250k aren't living in NYC supporting 3 kids. I would consider most people who make 250k rich but the family of 5 living in NYC probably isn't.

09-21-2010 , 11:42 PM

#123

PoBoy321

Carpal \'Tunnel

Join Date: Aug 2004 Posts: 9,982

Quote:

Originally Posted by mjkidd

lol do you think you've caught me in an inconsistency?

Well, now you're saying that people who make $250K/yr are not rich, but people who make $150K/yr, are.

09-21-2010 , 11:43 PM

#124

SenorKeeed

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Join Date: Jul 2006 Posts: 37,478

No, I'm saying that some people (relatively few) who are making 250k are not rich while many people who are making 150k are rich. It depends on their obligations.