<p>I am confused if the figures being thrown around are total household income, an individual’s gross income or AGI from a tax return (again combined or individual).</p>
<p>Agree that $350k in Kansas provides a far higher standard of living than $350k in Northern NJ/midtown NYC.</p>
<p>We are talking about all household income with the 500,000+ number.</p>
<p>And AGI on the 370,000+ number that is tossed around…</p>
<p>These numbers don’t look at geography…</p>
<p>Posting follow-up to the WSJ article written a couple of days ago in case anyone is interested.</p>
<p><a href=“'Why Companies Aren't Getting the Employees They Need': The Author Follows Up - WSJ”>'Why Companies Aren't Getting the Employees They Need': The Author Follows Up - WSJ;
<p>I didn’t read the whole thread (sorry for being lazy, I feel like the student that misses class and then says "did I miss anything/). But is the point about ‘unstable’ that some move in and out of the 1%? I can see their actual wealth goes up and down but are people really popping in and out of this higher category? What percentage of that 1%?</p>
<p>Re post #75, certainly I think there has been a trend toward job hopping in the past couple of decades, but what seems to be happening now is that employers are low balling highly qualified applicants as well. Again, take that in combination with the excessive exec comp that in many cases is undeserved, and you have to wonder how much corporate responsibility these execs really do exercise. Besides, leaders set the tone for the company. If there is no loyalty from the top, there won’t be anywhere else either.</p>
<p>How can anyone look at these graphs and say they are ‘glad’ about the 1%…AS IF it all boils down to the simply argument that some of them pay taxes? </p>
<p>[Here</a> Are Four Charts That Explain What The Protesters Are Angry About…](<a href=“http://www.businessinsider.com/here-are-the-four-charts-that-explain-what-the-protesters-are-angry-about-2011-10]Here”>Here Are Four Charts That Explain What the Protesters Are Angry About...)</p>
<p>I’m personally in the top 1% of my country (Canada), and give up close to 50% of my income at the marginal level, and frankly it works. People aren’t worrying about their healthcare, foreclosing on their homes, or losing sleep over how they can send two kids to college. People aren’t having to lock themselves into gated communities to protect themselves from the underclass, thinking in terms of ‘crime rates’ or reading articles like in yesterday’s NYTs, showing the depressing state of suburbs with shuttered homes and food banks. We have a jobless rate of 6.5%. We aren’t even using the word recession anymore and the Canadian dollar is on par with the US now. </p>
<p>If you really don’t get it, you really should come spend some time up here…and have a look downward and compare the two. You would not believe your eyes. </p>
<p>We used to think it was great that our kids are dual citizens, and can live and work in either country. We always assumed they’d go stateside to university and it felt special that they could take advantage of being US citizens. Now it feels quite the opposite.</p>
<p>beawinner…love the follow up article…thanks for posting it…</p>
<p>a lot to think about…</p>
<p>Starbright…I like your post too…Canada is on the back of my mind…there are reasons why I think Canada is better for my family…</p>
<p>but my oldest daughter lives in the US…close by…</p>
<p>I find the fixation on the super high income people right now really foul, actually. It’s as if people are feeling insecure and want “those people” to take care of them. I just don’t see it that way. I think we should focus on building more of an employment base in the country and growing everyone’s income, not endeavoring to take the income from those who are doing really well. </p>
<p>And yes, my sense is that the top 1 percent is marked by a lot of churn, people go in and out of that group, many are in it just briefly when they sell a business or get a big commission or sell stock and then they are down with the mortals again. It’s stupid to suppose this is some sort of fixed group we can bleed dry to bail us out of our problems.</p>
<p>Looking at Canada as a model is fine but realize Canada has not been an engine of innovation and it is far less ethnically diverse than the US. Many Canadians with breast cancer and other intractable diseases come to the US for treatment. There are no significant medical innovations coming from Canada.</p>
<p>It’s naive to think that model is a panacea.</p>
<p>My partner and friend…was having trouble breathing. He lives in Nor Calif.</p>
<p>He called his doctor. His doctor said, “I will see you in 3 weeks”. My friend said, “I might be dead by then”.</p>
<p>The doctor said, “Sorry”.</p>
<p>Luckily, he found a doctor in the yellow pages in SF that would take him.</p>
<p>Dstark - that’s preposterous. Any human being in the United States having trouble breathing would be seen by physicians at an ER. I’m sure your friend/partner was told by his doc that if it was life threatening he should call 911 and/or proceed to the nearest ER.</p>
<p>The reason it’s taking so long to see physicians today is because their compensation is going down and access is increasing, but not the supply of physicians. Is it any wonder???</p>
<p>“And yes, my sense is that the top 1 percent is marked by a lot of churn, people go in and out of that group”</p>
<p>If taxes are increased when income is in the top 1%…and then a person falls out of that group…he won’t have to pay that increase in taxes…</p>
<p>It’s not like once you make that kind of money…you are taxed whether you make that money again or not.</p>
<p>If a person makes $1 million one year…and tax rates are raised 5 percentage points for incomes over $250,000…</p>
<p>That person will pay an additional tax of $37500.</p>
<p>The next year…the person makes 200,000…the additional tax is …0.</p>
<p>You would think the world is going to end if a person makes 1 million in one year and has to pay an additional 37500 in taxes…</p>
<p>The odds are pretty good…that if a person makes 1 million in a year…there are long term capital gains as part of that 1 million…</p>
<p>So…the total tax rate that person who makes $1 million in a year pays in taxes can still be lower …even with the 5% surcharge…than a teacher…an engineer…a waiter …etc…</p>
<p>The guy didn’t want to go to the ER…</p>
<p>He wanted a doctor…his doctor… to look at him first…</p>
<p>He could have gone to an ER…</p>
<p>
</p>
<p>sewhappy: I sincerely hope you never have to take a child with a life threatening asthma attack to an ER, without being able to have your pediatrician meet you there or call. You can sit a very long time in an ER without being seen and evaluations as to severity of problem are very superficial imho</p>
<p>asthma is a huge health concern for low income families who can’t afford adequate consistent preventative care and depend on ER </p>
<p>I am sorry this is off-topic but all developed countries take better care of their children than we do and that was mentioned up-thread</p>
<p>alh,</p>
<p>My younger one developed asthma in middle school and it was an excellent ER doc who diagnosed it and initiated effective treatment. I think it is quaint and rather charming to think that “my doctor” would drop everything to meet us at an ER! Do you actually know any doctors?</p>
<p>Well, dstark, I guess you and I just have a different world view. I’m very sorry your poor friend with trouble breathing did not have a doc who listened to his symptoms, dropped everything and fit him into his no doubt very busy schedule. Perhaps your friend has something of a history with this doctor? There are a lot of different types of patients. Some call the doctor constantly and expect every symptom to be treated as an emergency.</p>
<p>You can perhaps help your friend come to terms with the fact that the health reform legislation is starting to kick in and we are seeing a big increase in what is called “access” but the same number of physicians (perhaps even shrinking as many seek early retirement). But you can tell your friend that he might be able to see a nurse next time. Perhaps that will mollify him.</p>
<p>Yes, it be interesting to see what the breakdown of income and assets are for the 1% !!!</p>
<p>IMO, the US Treas, the Pres, the Presidential candidates, the economists, the IRS should be looking at all these breakdowns to see what is really happening in our economy with its current tax system and the severe problems in so many industrial sectors.</p>
<p>Where are the 1% putting their investments?
(what is the trend in donations to non-profits, as well?)</p>
<p>Also, where are US corps and businesses putting their cash flow?</p>
<p>And, to whom (individuals, sectors) are the US banks lending, i.e. making new loans?</p>
<p>Finally, what are the current trends in savings, checking and money market accounts by type of customer and regionally?</p>
<p>My friend is fine…he is in the top 1% too.</p>
<p>Did not happen in this case…my friend did not mention this…but it is amazing how… when a doctor says I can’t see you for several weeks…and my friend says…I will pay you in cash…how quickly things open up…</p>
<p>I suggest that your friend sign up for “concierge medicine” wherein he pays extra for personal attention. It’s becoming quite the craze as we push access and cut provider reimbursements.</p>
<p>sewhappy, luckily for my childrens’ health several family members are MDs. And lots of family friends. My parents generation and my own. I used to be part of a university health plan where the pediatrician gave me his home phone # and when I called in the middle of the night, told the resident on call in ER what to do. He was the one who suggested I call no matter what time it was.</p>
<p>edit: father and grandfather were MDs as well as uncles, cousins</p>
<p>“Perhaps your friend has something of a history with this doctor? There are a lot of different types of patients. Some call the doctor constantly and expect every symptom to be treated as an emergency.”</p>
<p>my, my, my… so many assumptions -none, of course, based on what dstark said. </p>
<p>You certainly want to make sure Drs dont have to have their busy schedules
interrupted or inconvenienced by seeing sick patients, dont you?</p>
<p>"I suggest that your friend sign up for “concierge medicine”
Oh sure!! for an extra $5000-$10000 per year over an above the cost of medical insurance! Why not!!</p>
<p>alh,</p>
<p>I remember those days fondly. DH was on faculty at a university and we went to the university medical center for our care. It was very personal attention and I really cherished it. That changed with time. Healthcare is morphing. If we want it free then it will be very different from what it once was. If we want it to remain personal and very high quality, we will have to pay a premium.</p>
<p>And yes, menlo, if dstark’s friend wants that kind of care then that is what he will need to do. Welcome to the age of healthcare reform! Isn’t it great?</p>