<p>I am pretty sure the medical malpractice for that doctor you know who makes a salary of $300,000 comes out BEFORE the salary number is set as a business expenses. And ANYONE in the US who makes $300,000 is going to face the same tax bill, even if you are a lawyer or investment banker or whatever.</p>
<p>You don’t need that kind of salary to send your kids to college – but if you want a stay at home spouse, fancy cars, a big house, expensive vacations, and multiple kids at private colleges, then you may “need” to make that much money. You can make a whole lot less, start saving for college the day your kids are born, and still cover private college (I know because I have done it for my kids). So doctors become more like employees, and make $150K vs. $300K… the only reason that would concern me is because it will be so much harder for them to retire their med school debt, and that particular item does not seem fair to me. But regarding whether they can earn a good living in medicine, you don’t need an outrageous salary to live well and send your kids to college.</p>