Try Living on $500K a Year - So Tough!

[oec2000]

http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?em

 

Doesn't your heart bleed for the bank executives who just had their compensation capped at $500K? I feel sorry for them - as sorry as they must surely feel for their shareholders and employees whom they've let down. (Any emoticon to denote sarcasm?)

[Carvel46]

Author on NPR discussing all the hate mail he's receiving... and also takes calls.

http://www.npr.org/templates/story/story.php?storyId=100445054

[Crip1]

My favorite paragraph from the NYT story is:

 

Few are playing sad cellos over the fate of such folk, especially since the collapse of the institutions they run has yielded untold financial pain. But in New York, where a new study from the Center for an Urban Future, a nonprofit research group in Manhattan, estimates it takes $123,322 to enjoy the same middle-class life as someone earning $50,000 in Houston, extricating oneself from steep bills can be difficult.

 

So, the $500K President Obama wants to pay these folks then translates into a little over $200K/year in Houston. Well, I live in Dallas which is like a less humid Houston with too many northerners (myself being a northener as well) and one can live pretty damned well on $200K/year. VERY damned well.

 

-Crip