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Old 05-18-2013, 10:02 AM   #2 (permalink)
usagi_tetsu
idiots spring eternal
 
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Join Date: Aug 2006
Location: Columbia/Jeff City, MO

$10 million. Let me tell you why.

For another project, I figured out what you could buy with just $10million, and here's what I came up with for a family of 5 (mom, dad, 3 kids, plus some aged parents they have to take care of):

cost of a Bachelor's degree (most expensive, of course) - $100,572 (x3 kids = $301,716)

cost of a year of nursing home - $50,000 (average total $114,383, x2 parents at twice the average = $457,532)

Mercedes-Benz G63 AMG (mom's grocery getter) - $135,205
Nissan GT-R (dad's commuter) - $96,100
Ferrari 458 Italia (dad's "fun" car) - $230,275
Mitsubishi Lancer Evo (son's car) - $38,490
Infiniti M35h Hybrid (daughter's car) - $54,595
Ford Raptor (other son's fun truck) - $45,940
cars total - $600,605

5 million dollar house - $5,000,000

Bavaria Vision 46 yacht - $311,412

country club membership - $120,000

maid and cook annual salaries - $60,000

annual taxes (24.6%) on $10mil - $2,460,000


total - $9,311,265



Yeah, I was pondering what people could buy if the government enforced a $10mil salary cap on citizens of the US - in one year, they could take care of their kids' college education, their parents' retirement home costs, buy a mansion, 6 very expensive vehicles, a yacht, one year's membership at a fancy golf club, keep a maid and a cook on staff, and still pay their taxes to the government, and have $600,000 left over. According to the 2011 tax roll, 7% of the tax paying population makes over $10 million a year. Just let you ponder that one for a while.
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