the HENRY class - High Earners, Not Rich Yet

[Throckmorton]

The S in GS stands for socialism. You ARE the black man (black = socialist = ACORN) keeping the HENRYs down!

 

[Hacp]

Wait, so someone who worked hard and studied through law school/medical school and earns 300k now has to pay for the welfare of the high school dropout who partied the day before finals? How is that in any ways fair?

 

[CountZero]

This article and the name HENRY are awful. You are not going to earn any sympathy when you throw 'not rich yet' into the name. The issue really is that $250k for two people in many urban areas isn't particularly huge. So maybe they mentally feel like they shouldn't have to worry about living within their means because of their relatively high income but they do. No different from middle earners or even the fantastically rich. Another thing they have in common with everyone is the fact that they could do more things they want to do or think they should do if they paid less taxes.

The problem isn't that there is a point where taxes increase significantly it is a matter of where this point is set. Lets say they want that point to be at the top 5% mark and for the entire country that is 250k. But what if 250k puts you at top 30% in NYC. Should the federal government be taking that into account? It is a problem with progressive tax in a country with such wildly different costs of living. I think that's what they were trying to get at but failed to do so and instead came off as whining because they make "a lot" of money but aren't ever going to be rich.

 

[Throckmorton]

Wait, so someone who worked hard and studied through law school/medical school and earns 300k now has to pay for the welfare of the high school dropout who partied the day before finals? How is that in any ways fair?

http://wiki.answers.com/Q/What_percentage_of_the_U.S._federal_budget_is_spent_on_entitlements

A book "The Complete Idiots Guide to Economics" written in 2003 cites the U.S. Government budget as reporting that entitlements make up approximately 65 percent of our budget, distributed as follows:
Social Security: 23%
Medicare: 12%
Medicaid: 7%
Other Means-tested entitlements: 6%
Mandatory payments (pensions, etc.): 6%
Net interest on debt: 11%

So in your mind, the 6% of taxes (and deficit spending) that go to welfare means that paying for welfare is the main purpose of the $300k guy's taxes? Sounds like you're one of those high school dropouts, or maybe one of those who graduated by slipping through the cracks.

 

[Jhhnn]

This article and the name HENRY are awful. You are not going to earn any sympathy when you throw 'not rich yet' into the name. The issue really is that $250k for two people in many urban areas isn't particularly huge. So maybe they mentally feel like they shouldn't have to worry about living within their means because of their relatively high income but they do. No different from middle earners or even the fantastically rich. Another thing they have in common with everyone is the fact that they could do more things they want to do or think they should do if they paid less taxes.

The problem isn't that there is a point where taxes increase significantly it is a matter of where this point is set. Lets say they want that point to be at the top 5% mark and for the entire country that is 250k. But what if 250k puts you at top 30% in NYC. Should the federal government be taking that into account? It is a problem with progressive tax in a country with such wildly different costs of living. I think that's what they were trying to get at but failed to do so and instead came off as whining because they make "a lot" of money but aren't ever going to be rich.

Heh. I'll just offer what the Righties say about living in a high unemployment area- Just Move! Yeh, that's it... drop everything, load your shit into the Hummer and go somewhere else... of course, they'll just pay less when you get there, bet on it...

 

[AHenry]

the proposed tax increases for $250k and up earners?

why should their money that they worked hard for be distributed to others instead of being used towards a better life for their kids (private schools, etc) and themselves?

why should they be penalized for working harder/smarter and making more money generally speaking?

I am a HENRY. The article cited at the start of this thread makes some very valid points. In my case, I've been a HENRY for a few years but I was a bit more conservative and my wife, son and I lived well within our means. We saved and invested a large portion of my income. I grew up on my grandparents farm dirt poor. No kidding and no indoor plumbing. I put myself through college and earned a BS and a MS in engineering. I worked my way up to mid-level executive management.

I worked hard to get where I am and I don't owe other people my hard earned money. I am not willing to sit by and have our liberal administration use the tax policy to redistribute my income to people who have not worked hard to succeed and prosper.

Bottom line is that I have the ability to retire or to start my own small business and live off my investments. My income would drop by half but that's what we have been living on for years. I will simply choose to not allow the government take my income above $250k at a 50% marginal rate.

At some point people will decide making the extra $$ simply to pay the government is not worth it. I'm at that point.

 

[Throckmorton]

I am a HENRY. The article cited at the start of this thread makes some very valid points. In my case, I've been a HENRY for a few years but I was a bit more conservative and my wife, son and I lived well within our means. We saved and invested a large portion of my income. I grew up on my grandparents farm dirt poor. No kidding and no indoor plumbing. I put myself through college and earned a BS and a MS in engineering. I worked my way up to mid-level executive management.

I worked hard to get where I am and I don't owe other people my hard earned money. I am not willing to sit by and have our liberal administration use the tax policy to redistribute my income to people who have not worked hard to succeed and prosper.

Bottom line is that I have the ability to retire or to start my own small business and live off my investments. My income would drop by half but that's what we have been living on for years. I will simply choose to not allow the government take my income above $250k at a 50% marginal rate.

At some point people will decide making the extra $$ simply to pay the government is not worth it. I'm at that point.

You chose to work hard and make a lot of money in this country. No one held a gun to your head and forced you to not do it in the third world where taxes are much lower. You're still free to leave, and pay third world tax rates. Just don't expect to make nearly as much, or have nearly as high a QoL, and don't kid yourself into thinking you'd be where you are had you GROWN UP in that third world country...


Basically what I'm saying is Love It Or Leave It.

 

[spidey07]

I am a HENRY. The article cited at the start of this thread makes some very valid points. In my case, I've been a HENRY for a few years but I was a bit more conservative and my wife, son and I lived well within our means. We saved and invested a large portion of my income. I grew up on my grandparents farm dirt poor. No kidding and no indoor plumbing. I put myself through college and earned a BS and a MS in engineering. I worked my way up to mid-level executive management.

I worked hard to get where I am and I don't owe other people my hard earned money. I am not willing to sit by and have our liberal administration use the tax policy to redistribute my income to people who have not worked hard to succeed and prosper.

Bottom line is that I have the ability to retire or to start my own small business and live off my investments. My income would drop by half but that's what we have been living on for years. I will simply choose to not allow the government take my income above $250k at a 50% marginal rate.

At some point people will decide making the extra $$ simply to pay the government is not worth it. I'm at that point.

Same here. Well said and I'm about at that point. I've been lucky enough that I can change the number of hours I bill because at the levels Obama is talking about, what's the use in working?

 

[Throckmorton]

Same here. Well said and I'm about at that point. I've been lucky enough that I can change the number of hours I bill because at the levels Obama is talking about, what's the use in working?

Please post the hard numbers. I'd love to see what these huge tax increases are.

 

[IndyColtsFan]

You chose to work hard and make a lot of money in this country. No one held a gun to your head and forced you to not do it in the third world where taxes are much lower. You're still free to leave, and pay third world tax rates. Just don't expect to make nearly as much, or have nearly as high a QoL, and don't kid yourself into thinking you'd be where you are had you GROWN UP in that third world country...


Basically what I'm saying is Love It Or Leave It.

I love this line of thinking; of course, you and your ilk never apply it to the other hand, now do you? How about we ask the whining "poor" people to leave instead? I'm sure that's an expense most overburdened taxpayers would be happy to pay.

 

[IndyColtsFan]

Heh. I'll just offer what the Righties say about living in a high unemployment area- Just Move! Yeh, that's it... drop everything, load your shit into the Hummer and go somewhere else... of course, they'll just pay less when you get there, bet on it...

What's your solution? If you can't find a job after 2 years of searching, don't you think you need to do something drastic?

 

[blackangst1]

I love this line of thinking; of course, you and your ilk never apply it to the other hand, now do you? How about we ask the whining "poor" people to leave instead? I'm sure that's an expense most overburdened taxpayers would be happy to pay.

Oh snap

 

[IndyColtsFan]

Oh snap

Yeah, isn't it funny how their logic and arguments only apply to one part of society? How it is fine to tell the "rich" to shut up and leave if they don't like it, but that argument doesn't ever apply to the whining "poor" of this country? I mean, the "Love it or Leave it" mantra should apply equally, correct?

Maybe we can charter a cruise ship and offer free passage. I think Dave McOwned should be the first passenger.

 

[Throckmorton]

I love this line of thinking; of course, you and your ilk never apply it to the other hand, now do you? How about we ask the whining "poor" people to leave instead? I'm sure that's an expense most overburdened taxpayers would be happy to pay.

I don't see any poor people whining on this forum.

 

[IndyColtsFan]

I don't see any poor people whining on this forum.

Oh I see, so only "rich" people on AT P&N need to leave? Gotcha.

 

[Throckmorton]

Oh I see, so only "rich" people on AT P&N need to leave? Gotcha.

The next time I see a poor person complaining about lack of social services I'll tell him to love it or leave it too. PM me if you see such a post.

 

[IndyColtsFan]

The next time I see a poor person complaining about lack of social services I'll tell him to love it or leave it too. PM me if you see such a post.

Here's your first "love it or leave it" victim:

http://forums.anandtech.com/showthread.php?t=2070374

You were conspicuously absent in that thread. Hmmmm.

And Dave McOwned is always complaining about his lot in life as well. There's victim #2.

 

[blackangst1]

Yeah, isn't it funny how their logic and arguments only apply to one part of society? How it is fine to tell the "rich" to shut up and leave if they don't like it, but that argument doesn't ever apply to the whining "poor" of this country? I mean, the "Love it or Leave it" mantra should apply equally, correct?

Maybe we can charter a cruise ship and offer free passage. I think Dave McOwned should be the first passenger.

You might be on to something. I mean, we ARE a country of equality right? Whats good for the goose...

 

[Jhhnn]

What's your solution? If you can't find a job after 2 years of searching, don't you think you need to do something drastic?

Heh. I just offered the idea as a wahmbulance alternative for HENRY's who feel cheated by the high cost of living in their areas...

Tears in my eyes as big as horseturds, I tell ya...

Don't worry, though, they'll still be voting republican while the whole economy is being looted out at the top... they're being downsized, rightsized, offshored and H1-B visa-ed along with everybody else... but their credit limit is bigger, so it's all good, right?

 

[BlahBlahYouToo]

I am a HENRY. The article cited at the start of this thread makes some very valid points. In my case, I've been a HENRY for a few years but I was a bit more conservative and my wife, son and I lived well within our means. We saved and invested a large portion of my income. I grew up on my grandparents farm dirt poor. No kidding and no indoor plumbing. I put myself through college and earned a BS and a MS in engineering. I worked my way up to mid-level executive management.

I worked hard to get where I am and I don't owe other people my hard earned money. I am not willing to sit by and have our liberal administration use the tax policy to redistribute my income to people who have not worked hard to succeed and prosper.

Bottom line is that I have the ability to retire or to start my own small business and live off my investments. My income would drop by half but that's what we have been living on for years. I will simply choose to not allow the government take my income above $250k at a 50% marginal rate.

At some point people will decide making the extra $$ simply to pay the government is not worth it. I'm at that point.

what's your other account name, or how did you come across this thread?

i'm not a HENRY but i feel exactly the way you do.

 

[IndyColtsFan]

Heh. I just offered the idea as a wahmbulance alternative for HENRY's who feel cheated by the high cost of living in their areas...

Tears in my eyes as big as horseturds, I tell ya...

Don't worry, though, they'll still be voting republican while the whole economy is being looted out at the top... they're being downsized, rightsized, offshored and H1-B visa-ed along with everybody else... but their credit limit is bigger, so it's all good, right?

Ah yes, the oft-used stealth "Bu...Bu...BUSH!" When you have nothing to offer, blame the previous President.

So, answer my question. Regardless of your lot in life, if you have been unemployed for 2+ years, do you sit in your home and hope the magical Democrat money fairy brings you a job or another handout? Or do you start looking at options such as moving?

 

[spidey07]

Ah yes, the oft-used stealth "Bu...Bu...BUSH!" When you have nothing to offer, blame the previous President.

So, answer my question. Regardless of your lot in life, if you have been unemployed for 2+ years, do you sit in your home and hope the magical Democrat money fairy brings you a job or another handout? Or do you start looking at options such as moving?

Two years would be enough for another degree or advanced training to start a new career. All paid for by the government.

The opportunity is there. If one doesn't grab it it's one's own fault.

 

[Throckmorton]

Here's your first "love it or leave it" victim:

http://forums.anandtech.com/showthread.php?t=2070374

You were conspicuously absent in that thread. Hmmmm.

And Dave McOwned is always complaining about his lot in life as well. There's victim #2.

She's not on this forum but I posted

 

[Jhhnn]

Heh. this thread is about the pitiful plight of the Henry's, blanghorst- remember?

And tell us, O Sage, Just where is the hot job market for laid off middle managers, salespeople, so forth and so on? Inquiring minds want to know...

Maybe people should just take off based on a lick and a promise, kinda like the Okies in the 30's, huh?

Or be "Retrained", to do what, exactly? What sector of the economy is crying out for enough employees to cover those who aren't working?

 

[IndyColtsFan]

Heh. this thread is about the pitiful plight of the Henry's, blanghorst- remember?

I do remember, and these people would be in an even better position to move than others. Your point?

And tell us, O Sage, Just where is the hot job market for laid off middle managers, salespeople, so forth and so on? Inquiring minds want to know...

You were the one ridiculing the people who suggested that a move might be in order, not me. Are you denying that some areas of the country (Michigan, for example) have worse job markets than others? No one said any one area of the country is "Hot" right now, though I will confess that I have been very surprised at the number of IT openings in my area. I never saw that one coming.

I am not saying jump in a car and drive to a different state. I am saying interview for positions in other states and move if you have to move. This isn't hard.

Maybe people should just take off based on a lick and a promise, kinda like the Okies in the 30's, huh?

Or be "Retrained", to do what, exactly? What sector of the economy is crying out for enough employees to cover those who aren't working?

So what do you suggest? Sit around and do nothing and hope Obama saves you?

Again, you dodged the question. I'm not surprised. You're the one ridiculing the suggestions of others, let's hear your suggestions.