View Poll Results: If you drive a C63, what is your annual household income (before taxes)?
Under $50K
17
5.67%
$50K to $100K
49
16.33%
$100K to $150K
62
20.67%
$150K to $200K
44
14.67%
$200K to $250K
28
9.33%
$250K to $300K
23
7.67%
$300K to $400K
12
4.00%
$400K to $500K
17
5.67%
$500K to $750K
9
3.00%
$750K to $1M
9
3.00%
$1M to $2M
6
2.00%
Over $2M
24
8.00%
Voters: 300. You may not vote on this poll
If you drive a C63, what is your annual household income (before taxes)?
MBWorld Fanatic!
Joined: Aug 2009
Posts: 3,974
Likes: 2
From: NY
See Sig
Not to take this thread even further off course (although it was stupid to begin with), but anybody paying anything close to the federal marginal rate is an ***-clown idiot. I am well into the highest U.S. tax rate, and pay about 18% average income tax. That is typical. I remember an article about V.P. Cheney making over $14 million a year while in office and paying right at 15%, because almost everything he made was dividends, which is taxed at 15%.
I am in Hong Kong now, and everybody in the U.S. talks about how low taxes are in Hong Kong (15% max average rate), but no one here believes it. Overall, we don't pay much more in the U.S. because there are NO deductions in Hong Kong (other than a small exclusion for low wage earners and a small housing expense deduction). So the advertised rate isn't everything.
With regard to property taxes, there are none here, which is great, right? Not even close. US$28,000 will probably pay 3 to 4 month's rent on a decent 3-bedroom 1,200 sq. ft. apartment. Instead of property taxes, the government owns almost all the land and closely controls it in order to raise money through periodic land auctions.
The above rant, of course, ignores payroll taxes, which are high, but again the highly paid don't pay the whole way. SSI cuts off around $105,000 or so, I believe, which means that someone making $300,000 pays just 1/3 the average rate of someone making $25,000.
So if we are going to complain about taxes, at least recognize that the marginal rates don't mean much.
I am in Hong Kong now, and everybody in the U.S. talks about how low taxes are in Hong Kong (15% max average rate), but no one here believes it. Overall, we don't pay much more in the U.S. because there are NO deductions in Hong Kong (other than a small exclusion for low wage earners and a small housing expense deduction). So the advertised rate isn't everything.
With regard to property taxes, there are none here, which is great, right? Not even close. US$28,000 will probably pay 3 to 4 month's rent on a decent 3-bedroom 1,200 sq. ft. apartment. Instead of property taxes, the government owns almost all the land and closely controls it in order to raise money through periodic land auctions.
The above rant, of course, ignores payroll taxes, which are high, but again the highly paid don't pay the whole way. SSI cuts off around $105,000 or so, I believe, which means that someone making $300,000 pays just 1/3 the average rate of someone making $25,000.
So if we are going to complain about taxes, at least recognize that the marginal rates don't mean much.
Also we are talking about what taxes you would paying during the course of the year, not what return you would make after write offs.
I agree, this thread is stupid though. I didn't even vote. I would never share my info on a public forum. LOL. Things are different everywhere in the world. What seems like a lot of money to some is every day life to others and that can lead to arguments.
Rent? That sucks about Hong Kong but it reminded me of when I used to be on single and lived in Manhattan in the Village. 1990 $4500 a month. Included 1 bedroom, 1 bath, 1 tiny kitchen, 1 tiny living room and 1 parking space. The parking space is what make it so expensive. Ahh bachelor life! Those were the days!
MBWorld Fanatic!
Joined: Aug 2009
Posts: 3,974
Likes: 2
From: NY
See Sig
Come to NYC or CA or other big cities. Its not that hard. Yes, in different areas you wont find as many people like that. But look at TX. You can buy a sick mansion that would cost someone in NY 2 mil for 300K. All relative. That was my point.
MBWorld Fanatic!
Joined: Jun 2007
Posts: 2,949
Likes: 0
From: Philadelphia, PA
2008 A8L, 2002 996TT X50, 2009 X5
After tax 2 mil is about 1.3 mil. Two people with successful careers can easily attain that income.
Now live within those means. 2 70K cars. 1 Family wagon. Maybe a boat and a house worth about 2.5 mil. Tax, Kids, Daycare, retirement, college and maintenance on all of those and you are no longer that well off.
Everything's relative. In the United States, if you make $250,000 of household income, you're already better off from an income standpoint than over 98% of the population (and, apparently, the bulk of C63 owners).
I forget the exact numbers, but if your household income is $1,000,000 or more, I believe you land in the top 0.2% or thereabouts (i.e. better off than 99.8% of Americans). $2,000,000 of gross household annual income is a very "well-off" position to be in, regardless of where you live in the United States.
MBWorld Fanatic!
Joined: Aug 2009
Posts: 3,974
Likes: 2
From: NY
See Sig
It most certainly does. Geographical area cost-of-living, along with proximity to wealth, will shape one's perception of "a lot of money."
Agreed. But the point as well is the cost of living is so much higher in the areas where the biggest wealth is. A tiny little cape in my area sells for over 500K. Its probably the size of the barn thats next to the 5K sq ft home in TX that people paid 300K for.
Attainable... sure. Easily? No, assuming they didn't just luck their way into it (e.g. inheritance, lottery, etc.). If it were easy, a helluva lot more people would earn income at that level... no?
Agreed not everyone will be able to. I do not consider myself the smartest person by any means and I was very much a blue colar mentality guy up until I was about 19 years old when I said to myself "There has to be a better way". People settle into life and dont take chances. You will never be rich or well of if you dont take chances. You are right, no one is going to just hand you that money. Unless you are a Doctor you will have to figure out another way.
Gotta disagree with you there... I'd argue anyone in that position is quite fortunate and most definitely "well off." Put the question back to you, if that family ($2MM income, several nice cars, home worth $1.5 million, million-dollar boat, etc.) is "no longer that well off" - who is? Have to be a billionaire to be well-off these days?
You are right. I dont mean to come off as snobby. What I mean by you are no longer "Well off" is you are by far no longer rich or wealthy after paying off those things.
Everything's relative. In the United States, if you make $250,000 of household income, you're already better off from an income standpoint than over 98% of the population (and, apparently, the bulk of C63 owners).
Depending on where you live, but I agree. If you make 250K household income you can pretty much live anywhere and make it. You dont however get to afford multiple 70K cars.
I forget the exact numbers, but if your household income is $1,000,000 or more, I believe you land in the top 0.2% or thereabouts (i.e. better off than 99.8% of Americans). $2,000,000 of gross household annual income is a very "well-off" position to be in, regardless of where you live in the United States.
Not sure, but yes, wealth and money is very much concentrated in the US to about 10 states.
Agreed. But the point as well is the cost of living is so much higher in the areas where the biggest wealth is. A tiny little cape in my area sells for over 500K. Its probably the size of the barn thats next to the 5K sq ft home in TX that people paid 300K for.
Attainable... sure. Easily? No, assuming they didn't just luck their way into it (e.g. inheritance, lottery, etc.). If it were easy, a helluva lot more people would earn income at that level... no?
Agreed not everyone will be able to. I do not consider myself the smartest person by any means and I was very much a blue colar mentality guy up until I was about 19 years old when I said to myself "There has to be a better way". People settle into life and dont take chances. You will never be rich or well of if you dont take chances. You are right, no one is going to just hand you that money. Unless you are a Doctor you will have to figure out another way.
Gotta disagree with you there... I'd argue anyone in that position is quite fortunate and most definitely "well off." Put the question back to you, if that family ($2MM income, several nice cars, home worth $1.5 million, million-dollar boat, etc.) is "no longer that well off" - who is? Have to be a billionaire to be well-off these days?
You are right. I dont mean to come off as snobby. What I mean by you are no longer "Well off" is you are by far no longer rich or wealthy after paying off those things.
Everything's relative. In the United States, if you make $250,000 of household income, you're already better off from an income standpoint than over 98% of the population (and, apparently, the bulk of C63 owners).
Depending on where you live, but I agree. If you make 250K household income you can pretty much live anywhere and make it. You dont however get to afford multiple 70K cars.
I forget the exact numbers, but if your household income is $1,000,000 or more, I believe you land in the top 0.2% or thereabouts (i.e. better off than 99.8% of Americans). $2,000,000 of gross household annual income is a very "well-off" position to be in, regardless of where you live in the United States.
Not sure, but yes, wealth and money is very much concentrated in the US to about 10 states.
Last edited by propain; Aug 10, 2011 at 09:25 AM.
Thread Starter
Senior Member
Joined: Apr 2011
Posts: 440
Likes: 1
'11 C63, '22 GLS 63, Porsches, M3, M4
What's up with people calling this thread stupid, yet contributing long posts to it?
By the way, I didn't start this thread in order to discuss income or wealth. I just wanted to set up the poll, and the only way to do that is with a thread.
By the way, I didn't start this thread in order to discuss income or wealth. I just wanted to set up the poll, and the only way to do that is with a thread.
MBWorld Fanatic!
Joined: Aug 2009
Posts: 3,974
Likes: 2
From: NY
See Sig
I enjoy a good discussion though so I figured I would make some good use of it. The poll data is meaningless. The discussion is good though.
Thread Starter
Senior Member
Joined: Apr 2011
Posts: 440
Likes: 1
'11 C63, '22 GLS 63, Porsches, M3, M4
Moreover, this type of survey is commonly used in social science and business because such surveys do have some value, even though they're far from perfect, but that's the case with just about all research methods used in these domains. Let's not let the perfect become the enemy of the good.
MB World Stories
The Best of Mercedes & AMG
Manual Mercedes? 6 Times Sindelfingen Let Drivers Have All The Fun
Verdad Gallardo
Mercedes SLR McLaren 722 S Is Extremely Rare Example Modified by McLaren
Verdad Gallardo
8 Classic Boxy Mercedes Designs That Have Aged Like Fine Wine
Verdad Gallardo
Flawlessly Restored Mercedes 190E Evo II Heads to Auction
Verdad Gallardo
Electric Mercedes C-Class Unveiled: 11 Things You Need to Know
Verdad Gallardo
Mercedes EQS Gets A Major Update: Everything You Need to Know
Verdad Gallardo
5 Underrated Mercedes-Benz Models That Don't Get the Love They Deserve
Verdad Gallardo
Mercedes 300D Has Pushed Well Past 1 Million Miles and It Ain't Stopping
Verdad Gallardo
10 Most Reliable Mercedes-Benz Models You Can Buy Used
Verdad Gallardo
MBWorld Fanatic!
Joined: Mar 2008
Posts: 1,068
Likes: 21
CLK63 Black Series
Not to take this thread even further off course (although it was stupid to begin with), but anybody paying anything close to the federal marginal rate is an ***-clown idiot. I am well into the highest U.S. tax rate, and pay about 18% average income tax. That is typical. I remember an article about V.P. Cheney making over $14 million a year while in office and paying right at 15%, because almost everything he made was dividends, which is taxed at 15%.
I am in Hong Kong now, and everybody in the U.S. talks about how low taxes are in Hong Kong (15% max average rate), but no one here believes it. Overall, we don't pay much more in the U.S. because there are NO deductions in Hong Kong (other than a small exclusion for low wage earners and a small housing expense deduction). So the advertised rate isn't everything.
With regard to property taxes, there are none here, which is great, right? Not even close. US$28,000 will probably pay 3 to 4 month's rent on a decent 3-bedroom 1,200 sq. ft. apartment. Instead of property taxes, the government owns almost all the land and closely controls it in order to raise money through periodic land auctions.
The above rant, of course, ignores payroll taxes, which are high, but again the highly paid don't pay the whole way. SSI cuts off around $105,000 or so, I believe, which means that someone making $300,000 pays just 1/3 the average rate of someone making $25,000.
So if we are going to complain about taxes, at least recognize that the marginal rates don't mean much.
I am in Hong Kong now, and everybody in the U.S. talks about how low taxes are in Hong Kong (15% max average rate), but no one here believes it. Overall, we don't pay much more in the U.S. because there are NO deductions in Hong Kong (other than a small exclusion for low wage earners and a small housing expense deduction). So the advertised rate isn't everything.
With regard to property taxes, there are none here, which is great, right? Not even close. US$28,000 will probably pay 3 to 4 month's rent on a decent 3-bedroom 1,200 sq. ft. apartment. Instead of property taxes, the government owns almost all the land and closely controls it in order to raise money through periodic land auctions.
The above rant, of course, ignores payroll taxes, which are high, but again the highly paid don't pay the whole way. SSI cuts off around $105,000 or so, I believe, which means that someone making $300,000 pays just 1/3 the average rate of someone making $25,000.
So if we are going to complain about taxes, at least recognize that the marginal rates don't mean much.
The difference between you and me? I don't have to ask or talk my wife into buying a Black Series (your own words on AMG Private Lounge).
Looks like you're the ***-clown idiot, admitting being pu$$y whipped on a public forum.
MBWorld Fanatic!
Joined: Aug 2009
Posts: 3,974
Likes: 2
From: NY
See Sig
Given that the shape of the distribution is plausible, smooth, not changing much as additional votes come in, and consistent with other sources of data, I think the results are far from meaningless.
Moreover, this type of survey is commonly used in social science and business because such surveys do have some value, even though they're far from perfect, but that's the case with just about all research methods used in these domains. Let's not let the perfect become the enemy of the good.
Moreover, this type of survey is commonly used in social science and business because such surveys do have some value, even though they're far from perfect, but that's the case with just about all research methods used in these domains. Let's not let the perfect become the enemy of the good.
But this is the internet. We are all rich good looking people who have the bodies of Adonis and the ***** size of ron Jeremy.
While im sure some have answered honestly, Its an anonymous poll so I would take it with a grain of salt.
Even if it wasnt anonymous its human nature to exaggerate. So I would take that poll and move everything up 1 less and that is probably your result.
Thread Starter
Senior Member
Joined: Apr 2011
Posts: 440
Likes: 1
'11 C63, '22 GLS 63, Porsches, M3, M4
Not to take this thread even further off course (although it was stupid to begin with), but anybody paying anything close to the federal marginal rate is an ***-clown idiot. I am well into the highest U.S. tax rate, and pay about 18% average income tax. That is typical. I remember an article about V.P. Cheney making over $14 million a year while in office and paying right at 15%, because almost everything he made was dividends, which is taxed at 15%.
Super Member
Joined: Aug 2008
Posts: 566
Likes: 0
1
lol yeah it really depends on the person. I have a homie worth well above 15 million and he never buys AMG models. He currently owns a S550..lovesss it. He is all about the look..not the performance... Then you have other people who buy it as a status symbol..i have seen sooo many old folks(especially females) driving AMGs "just cause". Hogging the right lane doing 10 under the speed limit smh.. But if I had to paint what I thought a C63 driver would be..i would say younger to middle aged ..performance enthusiastic..making 75-150k yearly
MBWorld Fanatic!
Joined: Aug 2009
Posts: 3,974
Likes: 2
From: NY
See Sig
Still civil and no one has called bs yet on anyone so its all good.
I agree with the last poster. My richest friend makes over 14 mil a year before any payouts like his payroll ect. And he drives an s550. Sl500. Bunch of US cars like the gt500 and the viper. Then a bunch of classics. His wife drives an MDX as her DD. Their family wagon is an escalade. Not one AMG. I tell him to get an S65 every year but he says nahhhh every time.
I agree with the last poster. My richest friend makes over 14 mil a year before any payouts like his payroll ect. And he drives an s550. Sl500. Bunch of US cars like the gt500 and the viper. Then a bunch of classics. His wife drives an MDX as her DD. Their family wagon is an escalade. Not one AMG. I tell him to get an S65 every year but he says nahhhh every time.
MBWorld Fanatic!
Joined: Jun 2007
Posts: 2,949
Likes: 0
From: Philadelphia, PA
2008 A8L, 2002 996TT X50, 2009 X5
For example, if you have a $5MM muni bond portfolio yielding 3%, that's providing $150,000 of income. The tax rate on that discrete piece of your overall income is 0%. Keeping it easy, let's say you also have a $5MM blue-chip stock portfolio also yielding 3%. That's providing $150,000 of dividend income, taxed at 15%. So, your $10MM portfolio is generating $300,000 of income per year, and that income is averaging a 7.5% federal tax rate. Maybe your also have $500,000 of earned income, and your average tax rate is around 27%. So, you have $800k of income, and an overall federal income tax rate of around 19%.
So his company's revenue is $14MM? If revenue, it really doesn't paint a picture of how much income he's making (or even how much profit the company produces)... am confused by the way you worded that.
MBWorld Fanatic!
Joined: Apr 2010
Posts: 1,955
Likes: 7
2017 Mini Cooper S Clubman ALL4 - British Racing Green
I'm not going to get into the trap that this thread is (although I did answer the poll).
What I will say is.. people who are rich (and stay rich throughout their entire lives).. regardless of salary, did not get their by pissing their money away on lots of toys, they are frugal. There are of course the exceptions, trust fund babies, people who have family money, etc. What I am talking about is the guy who started out with nothing and ended up rich.
Those who get rich quick and easy.. and own all those flashy cars, big houses.. huge parties, etc etc... read: sports stars, some musicians, etc, usually end up being broke by the end of their careers because they did not know how to handle the money that was handed to them without having to really work for it..
So, what does all that mean.. the type of car a person drives has less to do with money, and more to do with passion, at least with regards to those like me who had to stretch and save and fight for the cars we like and drive.
What I will say is.. people who are rich (and stay rich throughout their entire lives).. regardless of salary, did not get their by pissing their money away on lots of toys, they are frugal. There are of course the exceptions, trust fund babies, people who have family money, etc. What I am talking about is the guy who started out with nothing and ended up rich.
Those who get rich quick and easy.. and own all those flashy cars, big houses.. huge parties, etc etc... read: sports stars, some musicians, etc, usually end up being broke by the end of their careers because they did not know how to handle the money that was handed to them without having to really work for it..
So, what does all that mean.. the type of car a person drives has less to do with money, and more to do with passion, at least with regards to those like me who had to stretch and save and fight for the cars we like and drive.
Thread Starter
Senior Member
Joined: Apr 2011
Posts: 440
Likes: 1
'11 C63, '22 GLS 63, Porsches, M3, M4
If you say so.
But this is the internet. We are all rich good looking people who have the bodies of Adonis and the ***** size of ron Jeremy.
While im sure some have answered honestly, Its an anonymous poll so I would take it with a grain of salt.
Even if it wasnt anonymous its human nature to exaggerate. So I would take that poll and move everything up 1 less and that is probably your result.
But this is the internet. We are all rich good looking people who have the bodies of Adonis and the ***** size of ron Jeremy.
While im sure some have answered honestly, Its an anonymous poll so I would take it with a grain of salt.
Even if it wasnt anonymous its human nature to exaggerate. So I would take that poll and move everything up 1 less and that is probably your result.
Thread Starter
Senior Member
Joined: Apr 2011
Posts: 440
Likes: 1
'11 C63, '22 GLS 63, Porsches, M3, M4
propain already answered this (I believe). It depends heavily on where one's income is generated. If most of your current income is derived from your existing wealth, you can achieve very low income tax rates. If most of your income is earned income, you won't.
For example, if you have a $5MM muni bond portfolio yielding 3%, that's providing $150,000 of income. The tax rate on that discrete piece of your overall income is 0%. Keeping it easy, let's say you also have a $5MM blue-chip stock portfolio also yielding 3%. That's providing $150,000 of dividend income, taxed at 15%. So, your $10MM portfolio is generating $300,000 of income per year, and that income is averaging a 7.5% federal tax rate. Maybe your also have $500,000 of earned income, and your average tax rate is around 27%. So, you have $800k of income, and an overall federal income tax rate of around 19%.
So his company's revenue is $14MM? If revenue, it really doesn't paint a picture of how much income he's making (or even how much profit the company produces)... am confused by the way you worded that.
For example, if you have a $5MM muni bond portfolio yielding 3%, that's providing $150,000 of income. The tax rate on that discrete piece of your overall income is 0%. Keeping it easy, let's say you also have a $5MM blue-chip stock portfolio also yielding 3%. That's providing $150,000 of dividend income, taxed at 15%. So, your $10MM portfolio is generating $300,000 of income per year, and that income is averaging a 7.5% federal tax rate. Maybe your also have $500,000 of earned income, and your average tax rate is around 27%. So, you have $800k of income, and an overall federal income tax rate of around 19%.
So his company's revenue is $14MM? If revenue, it really doesn't paint a picture of how much income he's making (or even how much profit the company produces)... am confused by the way you worded that.
MBWorld Fanatic!
Joined: Aug 2004
Posts: 3,764
Likes: 9
From: Blasting off!
CLS63 Designo Edition, Hyundai Genesis 3.8 , Veloster Turbo, CLS500(Sold), E320 (SMOKED) R500 (Sold)
Let's keep this short and simple. It wasn't a rant, nor was I complaining.
The difference between you and me? I don't have to ask or talk my wife into buying a Black Series (your own words on AMG Private Lounge).
Looks like you're the ***-clown idiot, admitting being pu$$y whipped on a public forum.
The difference between you and me? I don't have to ask or talk my wife into buying a Black Series (your own words on AMG Private Lounge).
Looks like you're the ***-clown idiot, admitting being pu$$y whipped on a public forum.
I knew this was coming..8.5-9.
I'm not going to get into the trap that this thread is (although I did answer the poll).
What I will say is.. people who are rich (and stay rich throughout their entire lives).. regardless of salary, did not get their by pissing their money away on lots of toys, they are frugal. There are of course the exceptions, trust fund babies, people who have family money, etc. What I am talking about is the guy who started out with nothing and ended up rich.
Those who get rich quick and easy.. and own all those flashy cars, big houses.. huge parties, etc etc... read: sports stars, some musicians, etc, usually end up being broke by the end of their careers because they did not know how to handle the money that was handed to them without having to really work for it..
So, what does all that mean.. the type of car a person drives has less to do with money, and more to do with passion, at least with regards to those like me who had to stretch and save and fight for the cars we like and drive.
What I will say is.. people who are rich (and stay rich throughout their entire lives).. regardless of salary, did not get their by pissing their money away on lots of toys, they are frugal. There are of course the exceptions, trust fund babies, people who have family money, etc. What I am talking about is the guy who started out with nothing and ended up rich.
Those who get rich quick and easy.. and own all those flashy cars, big houses.. huge parties, etc etc... read: sports stars, some musicians, etc, usually end up being broke by the end of their careers because they did not know how to handle the money that was handed to them without having to really work for it..
So, what does all that mean.. the type of car a person drives has less to do with money, and more to do with passion, at least with regards to those like me who had to stretch and save and fight for the cars we like and drive.
I don't own a C63 but I noticed this thread a few days ago and thought it was rather strange to begin with. (I won't say stupid, but strange.) It's not a question I would think to ask anyone, just on GP.
MBWorld Fanatic!
Joined: Aug 2009
Posts: 3,974
Likes: 2
From: NY
See Sig
Here ya go:
http://boards.straightdope.com/sdmb/...d.php?t=540164
