NYT: You try to live on $500K in this town

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Orangedem's picture
Orangedem
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NYT: You try to live on $500K in this town

Over at the DailyKos, this article http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?_r=1 has been diaried and getting a lot of commentary. It seems to be tongue-in-cheek, but there are times when it gives into whining. Reminds me of the "we have to pay bonuses to retain our talent" argument. Read and see what you think the tone is!

 

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SamLinder's picture
SamLinder
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Re: NYT: You try to live on $500K in this town
Orangedem wrote:

Over at the DailyKos, this article http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?_r=1 has been diaried and getting a lot of commentary. It seems to be tongue-in-cheek, but there are times when it gives into whining. Reminds me of the "we have to pay bonuses to retain our talent" argument. Read and see what you think the tone is!

 

NYTimes.com requires email address registration for some content.

Well - I am just totally dismayed! I never realized how rough those "poor" executives had it. I'm going right down to my local IRS office and demand they raise my taxes immediately to help those pathetic slobs make it through another day! hahahahahahahahaha Tongue out

drb's picture
drb
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Re: NYT: You try to live on $500K in this town

No matter how you cut it - those of us who get by on much less than $500K per year are just not going to be all that sympathetic.

I think that his story was somewhat exaggerated, however, in that it focused on the impact a reduction to $500K per year would have on someone who is now making over $2000K per year (i.e. a reduction to less than 25% of their prior compensation level) and yet it did not (I believe) indicate how many (still employed) New Yorkers would be affected.  I read that the median salary for New York area workers in 2007 was around $51K per year - so percentage-wise I would think the impact of a salary cap be small.

Before those of us who make less than a quarter of $500K per year indulge in too much schaudenfraud over the troubles the New York rich are facing, however, we should keep in mind that with respect average world incomes we (in the U.S.A) are making an average of ~8x more than the rest of the world.   I would imagine that the reduction in OUR standard of living which we are all facing as a result of Great Depression II will receive just as much sympathy from the rest of the world that we are feeling for those New York executives.

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caroline_culbert
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Joined: Oct 2 2008
Posts: 624
Re: NYT: You try to live on $500K in this town
SamLinder wrote:
Orangedem wrote:

Over at the DailyKos, this article http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?_r=1 has been diaried and getting a lot of commentary. It seems to be tongue-in-cheek, but there are times when it gives into whining. Reminds me of the "we have to pay bonuses to retain our talent" argument. Read and see what you think the tone is!

 

NYTimes.com requires email address registration for some content.

Well - I am just totally dismayed! I never realized how rough those "poor" executives had it. I'm going right down to my local IRS office and demand they raise my taxes immediately to help those pathetic slobs make it through another day! hahahahahahahahaha Tongue out

I agree.

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