<p>IBProcastinator you do realize NONE of the people on the Fabulous life were Ibankers… right???</p>
<p>I do realize that, I was just commenting on the general discrepency between pay between doctors and some overpaid stereotypical business job (such as an investment banker)</p>
<p>There is no reason to be envious of Investment Bankers or hedge fund managers. With enough hard work and persistence you can find success as well. Wanna know why I-Bankers make so much? Their job is extremely difficult, they work day and night, and THEY MAKE TONS OF MONEY FOR THEIR EMPLOYERS WHICH IS WHY THEY ARE SO WELL PAID. </p>
<p>I wouldn’t exactly say doctors are not compensated well. Teachers do indeed deserve a lot. Investment bankers make a lot of money for their firms which is why it is so well paid. Success is a direct result of years of hard work + a little bit of luck. In every field there are the high paying jobs. Sure I bankers make a ton of cash but thats cause they sell their lives to the devil. I Bankers spend almost every waking minute working like dogs for their big fat salary. Job security isn’t too good as far as I-Banking goes. something can go wrong tomorrow and you find yourself without a job. MD’s have much more security.</p>
<p>It really depends how you look at UrIA. If an I-banker messes up, he might lose his job - but if a doctor messes up a patient might die or he might get hit with a malpractice suit. </p>
<p>No job is perfectly secure, except maybe civil service or those unionized public school teachers.</p>
<p>Yeah, I mean just like you have stereotypical businessmen making millions, you also have lawyers like that. Lawyers sue doctors for any sort of thing, mistake on the doctor’s part or not. They just want money. Just seems like doctors deserve the millions. UriA702- they say a life is priceless, so if doctor’s save a life, that should be more than getting your boss rich. That is all I am pointing out here.</p>
<p>I understand that, and I am not arguing with you. I was just implying that hospitals and medical clinics only have a certain endowment and that is why they can only be paid so much - a hospital can only take so many patients a day, while the earning potentials an investment banker can make for his boss is unlimited. I-Bankers are very intelligent, Employers know that someone who is banking millions a year for the boss is going to require a top notch salary. That goes for every industry not just banking. It may seem unfair but if there is profit to yield in a industry investors will jump at the opportunity. </p>
<p>Keep in mind that (for the most part) MDs are compensated very well as opposed to the majority of united states citizens. The median income in the US hovers around $55,000. a surgeons median is $271,134 according to salary.com, so let’s just assume doctors get to live a comfortable lifestyle. Sure an MD has to go through years and years of training but I can assure you if an MD didn’t come with such a big salary this country would be short handed of qualified medical staff. An MD is set for life. Sure they can get sued, however they do have liability insurance for this. I feel the way it is now is very good. If doctors were paid millions a year every other moron would be applying to medical school, thus resulting in US citizens trusting their lives to DRs who are in it for the $$ as opposed to being an MD to contribute to society.</p>
<p>If you wanna talk underpaid - Teachers - one of the most fundamental parts of society without teachers we’d get nowhere, yet it seems like teachers make less and less every year. I keep in touch with some of my HS teachers and they have assured me that they are finding themselves in very heavy financial debt. Many brilliant minds that could shape the future are drifting away from teaching due to the absolutely absurd salary.</p>
<p>If you wanna talk overpaid - Lawyers - I know many of you many argue, and even though we need lawyers I think that since every other idiot is deciding to go to law school we will soon relive what happened in the 80’s. Many many disagree but I personally believe that lawyers are a bunch of degenerates for the most part.</p>
<p>One can argue that the entire job market in the US is getting worse & worse. People are making now what they made 20 years ago, companies want to pay less and less and cost of living is rising tremendously. </p>
<p>Outsourcing is another problem with teachers. Public Universities are importing a bunch of idiot professors who don’t have permanent residency therefore unable to join the union which results in very low pay. I just personally feel that the entire Public School system will not improve until all the problems escalate into an educational epidemic.</p>
<p>Ok, well I guess its just not fair and life isn’t fair I suppose. Doctors can’t get paid that much because they need to take care of patients who don’t have that kind of money, and businessmen can cause they deal with millionaires. I see that, and it makes sense, but I don’t think this is the way it should be.</p>
<p>i watched the show as well. i thought it was disgusting. i understand that, for many people, money is the number one priority. honestly though, these people should be labeled as clinically insane for the amount of money they shell out on meaningless, materialistic devices. there are so many parts of this very country that are in dire need of financial assistance. i just wish these “billionaire ballers” would realize their ridiculously selfish behavior, and give that money to those who need it.</p>
<p>On one hand you can say they are selfish. *** do you need a 700 sq. ft. hosue for your zamboni? *** do you NEED a zamboni?? They could help a lot of people with that money. On the other hand, pepole can argue that they put in the hours for it, and they work for it, so they deserve it. Personally, I don’t think any people deserve that kind of money.</p>
<p>The way I look at it, billionaire’s money is better in their hands because they’ll give a percent to charity.</p>
<p>If the government took it they would just misuse it and nobody would benefit. And the money would go to either the billionaire or the government - it wouldn’t benefit regular Americans.</p>
<p>And that one guy’s house was bigger than the TAJ MAHAL!</p>
<p>You guys do not understand that if you had billions of dollars you would be doing the exact same thing. If it’s only thing that makes billionaires so powerful its envy. For the most part the rich folk in America got that way thanks to envy and greed. When nothing is ever enough for you you will always shoot for more. Could backfire on you though and leave you homeless</p>
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I think you mean 7000 sq. ft house, but anyways, it’s probably for tax purposes. If they didn’t invest the money in things like houses, then the government would take most of it. Not that my family has nearly that level of wealth, but before my parents decided to buy a huge house, the government was taking more than 1/3 of my dad’s income in taxes.</p>
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<p>Uhhh…so he’s getting a deduction for the money he pays on property taxes and interest. However, that just means he is paying PROPERTY TAXES and INTEREST which far exceed the deductions he is taking. So, instead of just giving the federal govt money, he is also giving money to the local govt and a mortgage company.</p>
<p>None of these guys are as extravagant as Mukesh Ambani, the 14th wealthiest person in the world. In a city in India that is filled with homeless, he is building a billion dollar home.</p>
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<p>That reminds me of the french rev…rich mansion in town while there are people dying of hunger. I would hold on to my head if I were him.</p>
<p>I agree, that jerk is just sticking it in the inhabitants of the area. I think it is safe to say that NO ONE needs a home that is 27 stories tall. That is just completely ridiculous. 168 cars is completely ridiculous as well, even according to car collector standards. In India nonetheless, plenty of people in India barely have food and water the billion dollars can help so many different people. Nobody has been that stupid in the u.s. to spend 1 billion dollars on housing. The funny part is I wonder how often this billionaire playboy is actually spending at home? More than likely little to none.</p>
<p>Did they show John Devaney’s yacht?</p>
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But the taxes don’t far exceed the deduction.</p>
<p>May be true. However, due to the benefits of the rate on the deductions it isn’t a staggering economic investment to be living at that location. Am I correct? Taxes and Interest rates on big expensive homes are what keep buyers away for the most part even if they can afford the mortgage payment, the taxes in super-wealthy neighborhoods are insane. The jersey shore is an example - NYC another. So I could understand why if such a big deduction of those taxes can be returned it would prompt a homeowner to invest in that neighborhood.</p>