The insanity continues, and I’m so glad to not be caught in it:
Some comments (that make me realize I can’t afford kids):
I live in Manhattan with 2 kids and our HHI is about 400k. If you looked at our everyday life, we do not live like rich people. The kids are in public school. We don’t go on vacations. Our clothes are from Old Navy. We don’t own a car. BUT, we save a lot (for retirement and to send the kids to private college – if that’s what they want – which I assume will be around 80k/year by the time they’re 18.) And we choose to live in this ridiculously expensive city. No one is forcing us to live here and no one is forcing that UB mom. Even if she is trolling, I know plenty of people who think the way she does. And most of them send their kids to private school so thankfully I don’t have to deal with them regularly. My kids go to a fantastically diverse school (economically, racially, etc) and I expect they will grow up with an appropriate perspective about wealth.
Let’s do some math:
400K to start with – 30% taxes (low est) – 15% savings (high est) – 50K nanny – 80K school (for 2, highest possible) – 48k (mortgage and condo fees, low est.) = $52,000 year for family of 4 to eat, get transportation (NB: car not covered above), be clothed, have books and entertainment, see doctors, buy gifts and take vacations, etc. That’s $1000/week left of $7,700/week pre tax income. It is most certainly not nothing. It’s nothing close to poverty, but it doesn’t strike me (as a NYC-dweller) as very rich.
I recognize that many many many many people make less than $1000/week and survive just fine, living quite well, depending on their location. And no one should complain about $1000/week. But it’s all relative and while I think griping like this should be kept private, it’s not 100% absurd.