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Forum » If you’re earning $200k per year as a wage…
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Thread: If you’re earning $200k per year as a wage…

post 1656672743 02-22-2022, 05:33 PM
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If you’re earning $200k per year as a wage…

…and the price of things (food, houses, etc) went up by 15% (conservative)

Then you just took a $30k per year pay cut

But that’s not all

You’re getting taxed in nominal dollars

So you are paying tax at the marginal tax rate applicable to $200k, not the deflated amount (bracket creep). Your average and total tax rate will be higher for a given level of purchasing power.

Did you work 15% less hard this year? Probably not. Did the government give you thousands of dollars more in services? Doubt it.
post 1656672813 02-22-2022, 05:35 PM
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yeah, we are in a death spiral. its like compound interest in reverse
There is nothing left on this planet but misery
post 1656672943 02-22-2022, 05:37 PM
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either way beats the fuk out the average less than $10k yearly salary in your home country
post 1656673003 02-22-2022, 05:38 PM
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If you were already a homeowner, then your biggest expense (mortgage) didn't inflate. But point still stands.
post 1656673043 02-22-2022, 05:39 PM
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Originally Posted By imbored17⏩
yeah, we are in a death spiral. its like compound interest in reverse
The worst part is, if they passed a bill in Parliament (congress) to raise tax rates, they’d lose their seat faster than you could blink

Yet they can get away with deliberately devaluing everyone’s wealth and inflating increasing numbers of people into higher tax brackets (assuming their wages keep track with inflation, LMAO)
post 1656673163 02-22-2022, 05:42 PM
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thanks daddy I did not know what inflation is
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post 1656673223 02-22-2022, 05:43 PM
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well if you are invested in commodities and have property then inflation isnt as big a deal.
post 1656673363 02-22-2022, 05:45 PM
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Most in my facility make about 160-180k a year.. the older guys make upwards of 200k

I know a couple of the older people who can't retire because they aren't set financially, or have/had money issues. Message to everyone out there, LIVE BELOW YOUR MEANS. I feel for regular people out there with a job that can just throw you away when it wants, or no pensions after you put in your 20-25 years
post 1656673383 02-22-2022, 05:45 PM
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our company increased our wages by like 25% a few months ago so that's nice. still weird making that much more but still not actually seeing a difference since everything is more expensive.
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post 1656673393 02-22-2022, 05:45 PM
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you arnet taking a 30k paycut unless you were planning to spend 200k/year on food. lol
post 1656673463 02-22-2022, 05:46 PM
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Originally Posted By gluon⏩
well if you are invested in commodities and have property then inflation isnt as big a deal.
Yeah it is. People should be able to hold cash in a bank and have some reasonable level of confidence that it’s not going to get deflated away within months. The banks should be paying an amount of interest that covers inflation (real inflation, not the BS number being thrown around) plus the risk-free rate of return.

Nobody cares though because “mUh hOuSe aPpRaIsAL!”
Originally Posted By imbored21⏩
you arnet taking a 30k paycut unless you were planning to spend 200k/year on food. lol
The purchasing power of all your dollars reduced, whether you were planning to spend them or invest them.
post 1656673613 02-22-2022, 05:48 PM
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So what are you saying...make 300K ?
post 1656673773 02-22-2022, 05:50 PM
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Originally Posted By Jaydawg08⏩
Most in my facility make about 160-180k a year.. the older guys make upwards of 200k

I know a couple of the older people who can't retire because they aren't set financially, or have/had money issues. Message to everyone out there, LIVE BELOW YOUR MEANS. I feel for regular people out there with a job that can just throw you away when it wants, or no pensions after you put in your 20-25 years
For once I actually agree with you. People who don't make that kind of money see the six figures and their eyes light up, they can't seem to comprehend everything that comes with that salary, the taxes, obviously the work, etc. Then there's lifestyle creep and you have people making 10-20k a month who are dead broke by the end of each month.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1656673953 02-22-2022, 05:52 PM
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Originally Posted By r32gojirra⏩
…and the price of things (food, houses, etc) went up by 15% (conservative)

Then you just took a $30k per year pay cut

But that’s not all

You’re getting taxed in nominal dollars

So you are paying tax at the marginal tax rate applicable to $200k, not the deflated amount (bracket creep). Your average and total tax rate will be higher for a given level of purchasing power.

Did you work 15% less hard this year? Probably not. Did the government give you thousands of dollars more in services? Doubt it.
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post 1656675383 02-22-2022, 06:10 PM
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Originally Posted By Muscle2021⏩
thanks daddy I did not know what inflation is
Explain this to me then:

If someone rolled up in your house and stole your $30k car would you be mad? Call the police?

Why is ok when the central bank and politicians do it?
post 1656676063 02-22-2022, 06:18 PM
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I won't need to worry about it when the housing market crashes. Just LOL @ not putting hotels on every property you own and passing go.
post 1656676143 02-22-2022, 06:19 PM
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Originally Posted By r32gojirra⏩
Explain this to me then:

If someone rolled up in your house and stole your $30k car would you be mad? Call the police?

Why is ok when the central bank and politicians do it?
Hey man as someone who works hard and puts away money this hits me harder than most people who just live paycheck to paycheck.
But what can you do?
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post 1656676383 02-22-2022, 06:22 PM
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This is why you own assets and develop multiple passive income streams that scale faster than inflation.
post 1656676393 02-22-2022, 06:22 PM
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We’re in the death spiral of debt, enjoy your standard of living while you still can.


Srs
post 1656676703 02-22-2022, 06:26 PM
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Originally Posted By Muscle2021⏩
Hey man as someone who works hard and puts away money this hits me harder than most people who just live paycheck to paycheck.
But what can you do?
Idk man.

I think I’m just pissed because it feels like running faster and faster in a goddamn hamster wheel sometimes.

Maybe I need to go back to wagecelling to stop thinking about this stuff and getting irate
Originally Posted By Redundanteater⏩
This is why you own assets and develop multiple passive income streams that scale faster than inflation.
Yeah ofc but I always thought at some point you could cash out your chips and walk away from the table.
post 1656676873 02-22-2022, 06:29 PM
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Originally Posted By r32gojirra⏩
Explain this to me then:

If someone rolled up in your house and stole your $30k car would you be mad? Call the police?

Why is ok when the central bank and politicians do it?
Its not okay and they should fear the standing on judgement day
post 1656682723 02-22-2022, 07:57 PM
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What if you make like $240k and pay yourself in dividends while owning a decent amount of stonks in what’s considered the best hedge against inflation and have the ability to avoid taxes through various deductions or just keeping money in your corporation because you already have too much cash to spend

Asking for a friend
post 1656683183 02-22-2022, 08:04 PM
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I'm not really noticing inflation hitting me too much srs
Make Europe Germany Again
post 1656683243 02-22-2022, 08:05 PM
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Originally Posted By Anachron⏩
I would ask said friend what went wrong in life to be only making $240K in beaverdollars...
Fuuaaaarrrrr will relay this question

Missed you Anachron
post 1656683653 02-22-2022, 08:11 PM
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Originally Posted By BrianDaMan⏩
If you were already a homeowner, then your biggest expense (mortgage) didn't inflate. But point still stands.
Truth but also depends on taxes in your area.

CA is low while Texas brutalizes you for RE taxes. Same with Washington.

The county/city treasurer can appraise your home for 500k more than the previous year and the taxes will brutally **** your *******.

My sister had a BF who’s grandparents where basically forced out of their home in the greater Seattle area because of something like that. WA rapes you on property taxes.

Something to remember when calculating your expenses YOY. Not saying home owning is bad at all.
post 1656683953 02-22-2022, 08:17 PM
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Winston Churchill was the evil one in WW2. 100% S-R-S.
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post 1656684243 02-22-2022, 08:20 PM
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Originally Posted By Jaydawg08⏩
Most in my facility make about 160-180k a year.. the older guys make upwards of 200k

I know a couple of the older people who can't retire because they aren't set financially, or have/had money issues. Message to everyone out there, LIVE BELOW YOUR MEANS. I feel for regular people out there with a job that can just throw you away when it wants, or no pensions after you put in your 20-25 years
Who knew airport janitors were paid so well

You’re definitely not frauding
post 1656684713 02-22-2022, 08:29 PM
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Originally Posted By Vhagar⏩
Who knew airport janitors were paid so well

You’re definitely not frauding
I can always count on Vhacuck to follow me around from thread to thread
post 1656685113 02-22-2022, 08:36 PM
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Originally Posted By Jaydawg08⏩
I can always count on Vhacuck to follow me around from thread to thread
I don’t even know who you are
post 1656685233 02-22-2022, 08:38 PM
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Originally Posted By Muscle2021⏩
thanks daddy I did not know what inflation is
pretty much this. lmao
*I posted in the Trey Songz thread Crew*

Canadians for Trump, 2020
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