Benny's World

Monday, April 20, 2009

Wealthy on All Accounts

I just read a story about a couple whose AGI this year was $260K. They are concerned about having to pay more taxes under Obama's plan.

They believe they are just middle class.

What I found interesting were the following in that story:

They tithe $15,700 a year to their church. That's tax deductible.
Moreover they have 3 dependents.

According to the WSJ, their mortgage, second mortgage and payment on land they bought is nearly $4,000 a month.

Other expenses, including their family car payment, insurance and college funds, as well as basics like food, utilities and donations to charities, leave them with about $1,200 left over each month.

Only $1200 a month. Seems to me like the rest of us, they can find ways to cut back, and also support the notion of expanded health insurance for all of us.

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