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Is this for real?

February 10, 2009 in Politics

I was reading the New York Times and I came across an article called “Trying to live on 500K in New York City.” After reading it once and then re-reading it twice I’m still not sure whether the author is serious or if it’s satire. For example, take the following quote:

But more than a few of the New York-based financial executives who would have their pay limited are men (and they are almost invariably men) whose identities are entwined with living a certain way in a certain neighborhood west of Third Avenue: a life of private schools, summer houses and charity galas that only a seven-figure income can stretch to cover.

Well, if you have done your job in such a way that you have run not only your company, but the whole economy into the dumpster, then maybe you have to realize that you just have to stop living in luxury with a home in the “right” place, summer houses and kids in private schools. Not to mention stop running to galas.

An accountant quoted in the piece, Martin Cohen shows that after taxes a poor person earning only $500,000 would take home $269,000 per year. And then the article goes on to explain how you need your apartment for $200,000, your summer house for $250,000, your driver for $125,000, your personal trainer for $12,000, your garage at $10,000, etc. ad infinitum. Oh, I forgot, yearly vacations for $16,000, private school for $65,000 and a nanny at almost $50,000.

If this is meant as satire I think it’s not sharp enough. If it’s not, then the revolution is not far away.

Oh, and the article says that a middle class salary in NYC is about $125,000, so getting paid 4 times average middle class is not good enough for the people who after running the economy into the ground probably doesn’t even deserve to be on par with the average working man or woman.

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