$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.
Want to improve your game? The best thing to buy is more paint and more field fees.
The problem with America is that we confuse our politics for religion, and our religions for science.
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