General

@taeilmoon no offense but you even assuming in the Original Post that everyone's parents make 200k a year kind of makes you sound like a spoiled brat not to mention it makes others feel that they're poor. My family makes 100k~ a year and I have almost everything I could've wanted. 200k a year is already rich IMO. Average I would say is 60-70k combined... I also think this thread is fake because you said you live in a third world country, but if someone was that rich in a third world country they would probably use that money to buy a plane ticket and leave because you know, its "Third world".

@Snovvy: Picking out individual conversations in a public thread is not really part of their function. If you're wanting to argue with only one person, you should PM him.

@Snovvy: I am only able top communicate with you now and be acknowledged in a working force outside of Guatemala because I attend an American School. If I am to make as much as my aunt, it is essential for me to go to a private school.

[quote=Snovvy]@aznseal: Again, does a $200k per year person [i]have[/i] to go to private school as opposed to public school? Do they [i]have[/i] to to have a car for each member of their family? These are undoubtedly not necessities.

The living wage for a family with 2 kids and 2 parents is ~$67k per year, or something. Nobody "needs" 200k. A multi-millionaire could say, "a helicopter for every member of the household!" and then pretend like their millions upon millions are "not that much" and "need to be taken in context."[/quote]

Here in Guatemala, if I were going to a public school I'd probably be a dim-witted non-English speaker who would aspire to be the best maid around. Though you might not know since you are not in my situation, as Korean living in Guatemala, I HAVE to go to a private school.

[quote=Snovvy]@aznseal: three things.

1. This "paying things off quickly" thing should have been said much earlier. With that said, "every member having a car" is still a little over-the-top. It makes 10x more sense now that you've revealed this bit of info.
2. When you make a lot of money, your options become much more expansive. I agree you can't always just choose, but it becomes much easier when you have more money.
3. Based on the amount of money you make, I completely agree and approve of where you guys chose to live. I just don't approve entirely of how you look at it. xD[/quote]

Fair enough. It may be an Asian culture thing where if the child listens to his/her parents and does extremely well in school, then he should feel entitled to what he gets but if he doesn't do well/obey, then he loses "face".

[quote=Snovvy]@aznseal: Fair enough. xD I know like two other basilers absolutely said "die," though, one for their self, and one for their friend.[/quote]

I'm going to be honest. Anyways, my life is completely average, regardless of the 200k+ salary. Reason is because my parents are firm believers in not owing people money. The average mortgage takes around 30 years. They're paying it off in a few years, which is under 10 total. By then i'll be on my own, and my parents would probably be living the country club life.

And you can't just choose to live somewhere. A lot of it has to do with the school system and demographics. To be perfectly honest, it's possible to live in the city. But when you factor in crimes, education, and commuting, it's just much more convenient to shell out extra upkeep money to live in the suburbs.

[quote=Snovvy]@aznseal: You'd said that in the Obamacare thread. Lol.[/quote]

I said "I couldn't imagine having to live off of that little"

[quote=Snovvy]It is when taken into context of where you [i]could[/i] live. It is when taken into context of the average in your country, state, and perhaps even city. It is in almost every single factor except for the one single factor you want to pay attention to (which is a factor, but with the option to lower standards [which someone at that level obviously has,] it's not that strong of a factor.)[/quote]

Ok. Let me humor you. Let's pretend living in a 4 bathroom house in Alabama is a decadent lifestyle. What are you getting at?

And regarding your earlier post: No, I will not "die" if I had to live a poorer lifestyle. I'd just couldn't imagine having to live it.

[quote=aznseal]Yes, but it's still not taken into context of where you live.[/quote]

Out of all the areas in the United States, median household income is highest in New England, at $60,363 a year. Still considerably less than $70,000 a miles a way from $100,000.

[quote=Im2Noob][url=http://www.census.gov/hhes/www/cpstables/032011/hhinc/new01_001.htm]No it's modest, in fact it's above average, compared to the United States as a whole[/url][/quote]

Yes, but it's still not taken into context of where you live.

[quote=aznseal]That's modest compared to you. Why should someone who makes more lower their standards? You love above the poverty line. Your extra money isn't necessary. Why don't you live more modesty?

The point I'm trying to make is that people have different lifestyles. What's not that much for me is different from whats's not that much or you. If you think people with more are spoiled and should change their lifestyles so you dont't get offended, then it's on you.[/quote]

[url=http://www.census.gov/hhes/www/cpstables/032011/hhinc/new01_001.htm]No it's modest, in fact it's above average, compared to the United States as a whole[/url]

[quote=Snovvy]@aznseal: Households for 70-100k per year would be considered "modest."

Obviously I would choose the better area, who wouldn't? However, that doesn't mean I would "die" if I had to live anywhere else and lower my standards.[/quote]

That's modest compared to you. Why should someone who makes more lower their standards? You love above the poverty line. Your extra money isn't necessary. Why don't you live more modesty?

The point I'm trying to make is that people have different lifestyles. What's not that much for me is different from whats's not that much or you. If you think people with more are spoiled and should change their lifestyles so you dont't get offended, then it's on you.

@LordZubin: oh gosh did I say billion? That's embarrassing. I meant trillion of course. I guess it is 15 trillion now. I'm not too up to date with that. But either way my original statement applies. GDP does not measure personal income.

[quote=Snovvy]@aznseal: Tell me when it's absolutely necessary to live in Vestavia Hills and not some more modest suburb.

And how is "people expect you to live a certain way" an argument? Again, when is impressing your neighbors a necessity?[/quote]

Because my dad's job moved us to Alabama. Vestavia IS a modest suburb. Go google Mountain Brook. Are you now so bored that you're questioning why my life is the way it is?

Since when is everything we own "necessary"? If you had to choose between a crappy ghetto public high school or one of the best in the state, which would you choose for your kids?

[quote=Snovvy]@aznseal: Again, does a $200k per year person [i]have[/i] to go to private school as opposed to public school? Do they [i]have[/i] to to have a car for each member of their family? These are undoubtedly not necessities.

The living wage for a family with 2 kids and 2 parents is ~$67k per year, or something. Nobody "needs" 200k. A multi-millionaire could say, "a helicopter for every member of the household!" and then pretend like their millions upon millions are "not that much" and "need to be taken in context."[/quote]

I went to a public school. I'll let you in on something.

Everywhere you live, every profession you are, people expect you to live a certain way. They're not necessities, but they're part of a life-style. If you want to be extremely blunt, nothing is a necessity except for a shack and bread. The fact that taken into context, in Vestavia Hills, 200k isn't that much.

[quote=Snovvy]@aznseal: Thinking 4x more than the median household income is "not super much" is blatantly offensive to anyone who would die just for that extra $2k a year which would drag them out of whatever financial woes, let alone another $150k a year.[/quote]

It has to be taken in context but ok.

[quote=Snovvy]@aznseal: A person being ungrateful for what they have is also disgusting. A person thinking they absolutely need their private schools and their jet skis, so they would die with any less, is disgusting. Simultaneously, it's really frustrating to watch trust-fund kids (or kids born into 200k+ households even) take credit for their parents success, and act as if they're better. A person who feels as if they're entitled (just because their PARENTS worked hard) to living a wonderful live is annoying, and a person who is an apologist for the ultra-rich who are rich by swindling people, is just despicable. You said "some people are jerks" in regards to the rich banker from my old home town. Yes, I agree, but that's what making laws are for. How would you feel about a law like that, which prevents bankers from cheating people? BTW, he had a monopoly in the area for like 900 square miles, and the reason we were living there was because of my dad's parents all lived in that general area, and y'know, old folks might need help and company every once in a while.

When I have personal experience with a topic, I will share it. Isn't that an important aspect of discussing things?[/quote]

Being grateful and thinking something are not super much is not mutually exclusive.

[quote=Snovvy]@aznseal: A person being ungrateful for what they have is also disgusting. A person thinking they absolutely need their private schools and their jet skis, so they would die with any less, is disgusting. Simultaneously, it's really frustrating to watch trust-fund kids (or kids born into 200k+ households even) take credit for their parents success, and act as if they're better. A person who feels as if they're entitled (just because their PARENTS worked hard) to living a wonderful live is annoying, and a person who is an apologist for the ultra-rich who are rich by swindling people, is just despicable. You said "some people are jerks" in regards to the rich banker from my old home town. Yes, I agree, but that's what making laws are for. How would you feel about a law like that, which prevents bankers from cheating people? BTW, he had a monopoly in the area for like 900 square miles, and the reason we were living there was because of my dad's parents all lived in that general area, and y'know, old folks might need help and company every once in a while.

When I have personal experience with a topic, I will share it. Isn't that an important aspect of discussing things?[/quote]
i approve this message

[quote=Snovvy]When did I ever say, "others didn't work as hard as me?" Don't build arguments by making things up? I'm just complaining about people who are born into rich families, live perfect lives because of all their money melting all the problems away, and then acting like they're superior to other people. How does that make me condescending?[/quote]

If that's why you're complaining, then I don't see a problem in someone stating that a so and so amount of income is not that much. How does that relate to someone acting like they're superior?

And sorry, I i thought you implied others didn't have to work as hard as you when you constantly go around bashing me about never having to experience real life, which something you claim you do, evident by you posting your life story in pretty much every other thread.

[quote=Snovvy]@aznseal: You're trolling me at this point. You're telling me that Paris Hilton, if she went around telling the world that she was better than anyone else, that she wouldn't be condescending as all hell?

Another move from strawsalot.[/quote]

Ok. Let me rephrase that. Why are you pointing out the negativity in being condescending when you're also being condescending?

[quote=Snovvy]Don't tickle yourself pink and think your special. I've had beef with uppity rich kids for a long ass time. It's so frustrating to deal with the condescending, pretentious, uppity rich kid from my old home town who doesn't realize the plight of living a normal life, where your parents don't just buy you a $25,000 car the second you turn 16, and who's a blatant apologist of his rich banker daddy who was the one who took my father's home away, all because he had ONLY paid like $75,000 of the $80-85K needed to have any ownership of the home by the time the recession took too hard of a hit on him for him to keep living in the house. What a lovely man! Just a free $75K USD just like that! That's how people the ultra rich get rich: not by working hard, but by screwing somebody else over.

It's not a subtle attack on you: it's a blatant attack on all uppity rich kids.

My beef with "upper middle class" and "lower upper class" kids is just how they feel so entitled to have their parents pay for their entire college tuition, and then go off on the misconception that we live in a meritocracy.[/quote]

1) People are jerks. Deal with it. Legally, the banker had no obligation to give your dad the house.
2) We feel entitled because we work hard for it. Don't even pretend that people whose income is at my families level don't need to work hard. We still work. We still go to school. We're not some over the top set for multiple generations rich.

Oh please, condescending? If anything, you're the one being condescending because you feel others "didn't have to work as hard" as you.

[quote=Snovvy]Don't tickle yourself pink and think your special. I've had beef with uppity rich kids for a long ass time. It's so frustrating to deal with the condescending, pretentious, uppity rich kid from my old home town who doesn't realize the plight of living a normal life, where your parents don't just buy you a $25,000 car the second you turn 16, and who's a blatant apologist of his rich banker daddy who was the one who took my father's home away, all because he had ONLY paid like $75,000 of the $80-85K needed to have any ownership of the home by the time the recession took too hard of a hit on him for him to keep living in the house. What a lovely man! Just a free $75K USD just like that! That's how people the ultra rich get rich: not by working hard, but by screwing somebody else over.

It's not a subtle attack on you: it's a blatant attack on all uppity rich kids.

My beef with "upper middle class" and "lower upper class" kids is just how they feel so entitled to have their parents pay for their entire college tuition, and then go off on the misconception that we live in a meritocracy.[/quote]

Most people on Basil are Asian and Asian parent's may be rich, but they won't pay for you.

^okay buddy

myy dad owns a house rental service with over 40 houses. i don't live the great life but if he started selling all of those houses i would be

[quote=XxSuperMoFoxX]my parents make around 28k combined a year they support me and my 4 sisters
4 of us go to college
we all have jobs etc though i got fired from mine >.<
if my parents made 200k a year it would probably be enough for them to retire
it really irrates me when people say
[i]we can barely live off of 100k a year[/i][/quote]
What people mean when they say they can't live off of that much is that with the current way that they're living, they wouldn't be able to live off of that much. Honestly, if my dad made that little, we'd totally have to change our lifestyle. My dad currently makes around 900k a year (his worst year has currently been 700k). The reason why we wouldn't be able to live off of 100k a year is that all 4 of us go to private schools, and my parents are fully paying for college for us, and they give us about $70-$100 a week in college, so we don't have to get a job so we can focus on our academics. Also, we go on 2-4 $3,000-4,000 vacations a year, for Christmas they spend around $700-1000 on all of us, and for birthdays we get about $300-400 in presents. My dad also buys a ~$60,000-90,000 car 1-2 times a year, and he's buying cars for each of us which are around $30,000-40,000. I realize most of these things are unnecessary, and the cost can be lowered on them, but there are some things that are very necessary, like "special help" for my sisters and brother (My younger sister has fetal alcohol syndrome [we adopted her from Russia], my brother has some anger management issues, and I'd prefer not to talk about my older sister's issues). Also, he has a lot of expenses like our house which was about $5m, which I realize is a little bit much, My dad's main office which I'm not sure about, but it was A LOT, like 15m or so. He also has 2 other offices, one he rented out the whole building, but it can't be too much, because it's a smaller building, and for the other one, he rented out a floor of some big medical building, and it can't be too much either, but I can't estimate the cost of it because I've never been to that one, and there's obviously a lot of other expenses that he has to pay off, but this is all that I can think of for the moment. I'm sorry if this post made me sound spoiled and sounded like I was talking about how I live better than you guys, but that's not the point. I realize how lucky I am, and I'm very grateful for this, and I hope to make the most out of my opportunities that I've been given, but anyways, the point of the was to show (in the necessary things he has to pay off at least) that to make a lot of money, you also have to pay a lot so you have a lot of expenses to cover, so it would be extremely difficult, if not impossible to live with a much lower salary, even though that may still be a ton of money to someone who has a totally different living style and different expenses to pay off.

[quote=Im2Noob]GDP stands for gross domestic product. It is merely the value of all the goods/services produced within a country during a certain time period. America's GDP is 14 billion. That does not mean that America is MAKING 14 billion. It means that the American economy is worth 14 billion.

GDP per capita is merely the GDP divided by the population. It is not a measurement of income. Try the median family income.

Edit: Good hard data would be good for this thread. Just an fyi the mean income for American households is $67,530 a year, and the median income is $49,445. (2012 numbers). 200k is around 3x the mean, and 4x the median.

The highest average (mean) income of American households is $159,202. This is the statistic for households that are owned by someone with a professional degree. This accounts for less than 1% of the population. There are only 4,627,000 households (out of 118,000,000) in America that make over $200K a year.

Edit 2: Completely forgot to source myself sorry. [url=http://www.census.gov/hhes/www/cpstables/032011/hhinc/new01_001.htm]Here you go[/url][/quote]

Derp, I know what it stands for. I took AP Econ in high school and I'm going to start my master's in business administration with economics in the fall. Our current GDP is 15 trillion, not 14 billion.

@aznseal: not you. But other people like that. I'm not saying every child is like that, but some are.

[quote=Cooliee124]I just hate people who are ungrateful for being born into a good situation.[/quote]

And what makes you assume i'm ungrateful?

[quote=taeilmoon]Well, up until now it was my aunt making that money, and she is single so she was supporting our family. We didn't get the full 200k, of course.

Up until now, my dad hasn't been making much, if any at all, but recently got lucky with a huge project, which is what'll allow him to make 20mil. We live in a third world country, so the money is even greater.

And yes, I understand some people might get offended, but we really do not live that luxurious a life.[/quote]

So you eat lobster and king crab daily right?

[quote=aznseal]Because it's full of haters man.
Off Topic: http://www.facebook.com/BeingCapitalist[/quote]

I just hate people who are ungrateful for being born into a good situation.

20m? that can retire my whole family right on the spot...

[quote=heyitsmexD]Basilmarket. Where success is frowned upon.
@Momo123 probably because you're not supposed to work as a clerk for a living.[/quote]

Because it's full of haters man.
Off Topic: http://www.facebook.com/BeingCapitalist

[quote=Snovvy]Who on Earth has parents who make $200k+ a year (even combined)?

Certainly not the average person. o.o[/quote]

Mine.

Also, due to life-stlye differences, you can't realistically expect people who are used to living a certain way to suddenly change, barring natural disaster so lol@your subtle attacks at me in pretty much every single thread involving money.

[quote=Persephone]It wouldn't change anything because the 20mill isn't mine and my parents don't let us touch any of their money.
Don't get me wrong, they pay for our education and basic necessities. However, all luxurious are up to us to pay for after getting a job & everything. They are divorced now so the situation will change soon. In the end though, that's still their money & I probably won't see a cent of the $20mill.[/quote]

Hmm yeah pretty much this.

It wouldn't change anything because the 20mill isn't mine and my parents don't let us touch any of their money.
Don't get me wrong, they pay for our education and basic necessities. However, all luxuries are up to us to pay for after getting a job & everything. They are divorced now so the situation will change soon. In the end though, that's still their money & I probably won't see a cent of the $20mill.

[quote=Snovvy]Who on Earth has parents who make $200k+ a year (even combined)?

Certainly not the average person. o.o[/quote]

I do... I consider myself pretty average.

Gees if my parents made 200k a year ... what the hell are your parents doing ?

This thread makes me depressed. My parents don't even make 20k a year combined . I'll gladly take the 200k a year..

[quote=PaleGreen]@heyitsmexD: Well of course a family living on 200k isn't going to be living like royalty but they're still wealthy enough to be able to spend quite a bit on luxurious things. If they don't then they're very close to living above their means which is just unwise. All I'm trying to say is that a 200k income is well off and the only time it's not is if they're trying to live like someone who makes more than 200k. Most of the people in this thread who have high incomes are teenagers and children, so they probably don't fully understand what's going on with their parents finances anyway.

There's many factors that play into my mother's financial situation. I don't know all of them and neither do you, so it's silly to assume it's entirely due to her not trying hard enough. Maybe she didn't do well in her past (I wouldn't know) but she works very hard to provide for our family. What I do know is that even with an income under 20k we live just fine. The only bills she's ever struggled to pay were for internet access, which is a luxury. We've never been in risk of not having necessities. If my poor family can live nicely within our means and occasionally be able to enjoy some small luxuries then a family with a 200k income can do it too.

Basically, if a family makes 200k a year then that's wonderful. The parents worked hard to get where they are and should enjoy it, but if even with that much money they're only making enough to pay the bills then they just aren't doing it right.[/quote]

exactly.

[quote=PaleGreen]@heyitsmexD: Well of course a family living on 200k isn't going to be living like royalty but they're still wealthy enough to be able to spend quite a bit on luxurious things. If they don't then they're very close to living above their means which is just unwise. All I'm trying to say is that a 200k income is well off and the only time it's not is if they're trying to live like someone who makes more than 200k. Most of the people in this thread who have high incomes are teenagers and children, so they probably don't fully understand what's going on with their parents finances anyway.

There's many factors that play into my mother's financial situation. I don't know all of them and neither do you, so it's silly to assume it's entirely due to her not trying hard enough. Maybe she didn't do well in her past (I wouldn't know) but she works very hard to provide for our family. What I do know is that even with an income under 20k we live just fine. The only bills she's ever struggled to pay were for internet access, which is a luxury. We've never been in risk of not having necessities. If my poor family can live nicely within our means and occasionally be able to enjoy some small luxuries then a family with a 200k income can do it too.

Basically, if a family makes 200k a year then that's wonderful. The parents worked hard to get where they are and should enjoy it, but if even with that much money they're only making enough to pay the bills then they just aren't doing it right.[/quote]

Well said.

I think the ideal income for my family is maybe 50-60k, but it's 30k right now because only my dad is working Compare to what we had back in China, we are fortunate to have everything we have right now I have never imagine my parents making 20m a year, 50-60k is enough for our family to have everything we need and want (and maybe we can afford to have the AC on for a longer period)

edit. Just finished reading most of the previous comments: Back in China, my dad makes less than 5k USD a year and he still has to support 4 children going to school too, and I would never say something like "it's not really that much" No offense, but you did sound a little "spoiled" there...

@heyitsmexD: I'm not putting down peoples parents who make a good living. I'm truly happy for everyone who's lifestyle wasn't like my childhood and many other americans childhood. I just hate it when people don't appreciate how lucky you are to be on the opposite side of the rest of us.

Lifestyle won't change that much. We just wouldn't be worrying much about money. Well I guess we'd live somewhere nicer but other than that I don't think my life would change much.

[quote=iSpitOnLuk]Because most of them are saying that's nothing. People have a problem with that because it [i]is[/i] a lot.[/quote]

It really depends on your lifestyle and the area's cost of living.

[quote=Cooliee124]Ignorance at work in that post lol.[/quote]
Well look at all the guys who are putting down the basilers who say their parents make more than 200k.

[quote=heyitsmexD]Basilmarket. Where success is frowned upon.
@Momo123 probably because you're not supposed to work as a clerk for a living.[/quote]
well there are many people who do because finding jobs isn't as easy as it seems, especially in Florida where unemployment rates are really high. And I plan on changing jobs once I get my major, but who do you think is going to pay for classes, rent, insurance, etc? My parents basically put me on my own. And even after I get my degree, do you think I can just walk up to job employers and be like "hey I just graduated hook me up with a $100k job." No way man.

OT: once you rich basilers get a job, you will be more grateful and realize how much your parents actually did for you

[quote=heyitsmexD]Basilmarket. Where success is frowned upon.
@Momo123 probably because you're not supposed to work as a clerk for a living.[/quote]

Ignorance at work in that post lol.

Basilmarket. Where success is frowned upon.
@Momo123 probably because you're not supposed to work as a clerk for a living.

umm 200k is alot

For those of you rich people who's parents make over $100k, why don't you get a job and see how hard it is to make that much money? I work full time (40 hours) at a retail store. Even with my paycheck, it's nearly impossible to pay for car insurance, loans, classes, etc.