Quote:
Originally Posted by powderjunkie
My HHI is way above average, but after 5 years of full earnings (and significant debt incurred to achieve that HHI) the notion of an investment feels laughably out of reach (which is fine).
So our annual tax bill is quite a bit higher than these AVERAGE INCOME folks, but we certainly aren't generating the same kind of wealth, because timing.
People often talk about how a 'wealth tax' would be a lot better than than our income tax scheme, because super wealthy people can have shockingly low "incomes". This is an excellent remedy in that direction.
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Definitely a sign of the times.
The cost of everything is sky high and the cost of entering property markets is as well.
The people I'm referring to why going to have those gains, would have bought those properties 10,15,20+ years ago, so the prices were lower and their cost of living were likely much lower as well.
These type of opportunities feel like they've disappeared for the middle class.
And I think the important question is what do we do about that?
It seems a lot of people don't care of those investment vehicles are there anymore, as long as their neighbour who invested gets dragged back too.
Crabs in a bucket.