<p>Well, he’s probably on a thirty-year mortgage. So he saved up for a few years and made a $60K down payment (or whatever) and the mortgage has $7K of principle for each of the remaining thirty years. So say he pays $12K in mortgage payments every year. That still leaves $38-48,000 on which to pay for food/family/etc.</p>
<p>That doesnt seem like much to me lol.</p>
<p>Are there any careers that the government doesnt rob you of half your income, and you have more than 80k to spend?</p>
<p>There are no working-incomes that are legally exempt from income tax. (Many careers in organized crime are effectively tax-exempt, of course.) Any income you make through capital gains (e.g. real estate or stock investments) are taxed at the lower rate for capital gains taxes, but of course you have to have considerable money saved up to make a living through those means.</p>
<p>The primary way to “have more than $80K to spend” is to make more than $200K a year. The second way is to move to a low-tax state. Texas, for example, has no state income taxes. (They have very high property taxes, however.) You could also move and work overseas, of course – Hong Kong and Singapore have much lower income taxes than the US.</p>
<p>The third way, of course, is to run for President or Congress and lower taxes yourself.</p>
<p>80,000 goes a long way if you spend it wisely. </p>
<p>btw, is anyone familiar with this kind of system. One doctor starts a private practice and it grows so large that he employs other doctors who work under him. How would that work for the doctors who work under him?</p>
<p>They spend a few years working on salary and are then either fired or promoted to partner status.</p>