Are you having a stroke? This is what I said:
"The average American wears a new outfit between 7 to 10 times before it's thrown away"
You literally just said the exact same thing.
The FTB will do things like look at your credit card purchases and your phone records to determine residency, it's insane.
https://www.sambrotman.com/personal-income-tax-residency-california/residency-audit-survive
No, because you'd be spending more than your income.
You can afford something when it's within your income budget. It's not that difficult to understand.
Are you claiming the average American is less wasteful than the global average?
Montana has an income tax though, it's not even particularly low at 6%. They probably only did it for cars.
WA and NV were the top spots for Californians trying to dodge the state tax. But like I said the FTB is ruthless, they even went after people who legitimately didn't live in CA and just owned a winter home in Palm Springs.
This you?
My wife and I make $275k combined (no debt) and we live outside NYC. We’re not even close to rich, lol. We can’t even afford a house in our town in NJ.
Not being able to afford a house is completely different from "I can't afford a house of above a certain size and quality in this specific area at my current spending level". It'd be like somebody saying they can't afford a car and then you find out they will only drive Bugattis.
And good for your friends, because spending over $1m on less than $275k seems irresponsible to me. I hope they bought at a lower interest rate, which would explain why they decided to purchase such an expensive home, imo.
My mom purchased a home for $300k in the early 2000s while her income was roughly $15k a year. The interest rate was something like 9%. This would be the equivalent of you buying a $7m house on your income.
It was the best decision she ever made.
Like I said, different people, different spending priorities. But don't say you can't afford a house, you just choose not to.
You're using nominal non-inflation adjusted nominal figures for home price but using inflation adjusted figures for income.
Actual household income:
1980 $16,400.00
1990 $28,838.00
2000 $40,551.00
2010 $49,578.00
2018 $60,810.00
2023 $74,202.00
https://dqydj.com/household-income-by-year/
WIth the correct income numbers, price per sqft as percentage of income has not increased since 1980(0.24% vs 0.25%).
That's a lifestyle choice. I know people who bought more expensive homes at a lower income than you.
People have different spending priorities, but you can absolutely afford a house, you just don't want to.
Capital gains is taxed at 13% in CA.
FTB would still do a residency audit and determine you're a part time resident and have to pay taxes.
They even did this to snowbirds with a vacation home.
I have more NVDA shares than you and this is honest advice. Sell.
I'm liquidating most of my NVDA position in tranches as they hit long term capital gains.
So because your stuff is bigger and more expensive you have a higher standard of living?
Yes, that's how the standard of living is defined. Someone driving a Porsche has a higher standard of living than someone driving a Yugo. The OP is literally about income, not non-financial measures.
Do a quick google search for me: "top 10 countries by standard of living"
All these websites use non-empirical methods, often just the author's subjective opinion.
Standard of living in economics is only defined by material and financial metrics, not random bullshit like "friendliness". Do a quick Google search for me: "median disposable household income by country".
You may disagree with this definition, but it's the definition that matters to this thread.
I can near guarantee that I have a way more realistic view of how the rest of the world lives than you do pal. I've lived in at least 2 countries for more than 3 months on every continent in the world except Oceania, meanwhile your sorry ass probably hasn't even been on a plane lol
That's nice, how long did you work and live in the US? What was your job?
Then explain why your anecdote is relevant in a post about statistics.
The $41m is based on her reported assets yes.
Except we know what she invested in. We had her filings from back then. It was mostly invested in real estate in SF, and it was leveraged with mortgages.
Her stock portfolio must have performed extremely poorly given how well SF real estate has done since.
All accounted for. This is income after taxes, government transfers such as free healthcare and education(this is added to the countries with these things), and adjusted for cost of living using the PPP which is favorable to poorer countries.
Redditors just don't want to face reality that the rest of the world is much poorer than the US.
Absolutely. The average American has far more spending money than the average in those countries. We live in much bigger houses, drive much more expensive cars, eat more expensive meals, buy more expensive clothes and luxuries, etc.
You have a wildly distorted view of how the rest of the world lives.
The average American spends roughly $120/month for single person healthcare coverage. It rises to $450 a month for family coverage.
https://www.kff.org/report-section/ehbs-2023-summary-of-findings/
More importantly, free healthcare.and healthcare cost is already accounted for in the OP's calculation.
This disposable income is adjusted for all these factors. It's adjusted for government transfers such as free healthcare as well as cost of living.
In fact it's more favorable to poorer countries because they use PPP adjustment which considers things like a poverty spec diesel to be equivalent to a fully optioned luxury car 3 times the price.
The average American wears a new outfit between 7 to 10 times before it's thrown away.
It's actually wild.
1.3% of Americans workers make the federal minimum wage, which is going to be almost entirely commission based or tipped workers.
The only one making false statements is you.
https://usafacts.org/articles/minimum-wage-america-how-many-people-are-earning-725-hour/
They didn't invent that either. Several companies before Tesla had offered "activity keys" that were basically little plastic tags or wrist bands or whatever.
Yes, because it's a low margin industry.
$4b profit on $60b in assets is horrendous, and clearly not the reason for food price increases.
Tyson literally lost money last year. Are you claiming their CEO just didn't want that stock performance based bonus?
If you can't be bothered to join the discord that's on you.
$3.3 million LOSS on NASDAQ short calls
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