- 18,373
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$100k on education is fairly modest too. Depending on your local public schools and other circumstances, you could be paying $20-30k/year for private schools for K-12 and then $50k/year or whatever it is these days for most out-of-state universities. If your household income is above $150k/year or so, you won't get much financial assistance.
If your household income is <$100k, then your family is eligible for lots of financial aid, and the burden is reduced to the point where you can afford to send your kids to Harvard/etc, which is as it should be. You just can't afford the Benz or the 5-star hotels on vacation, but you can still live fairly well.
Rex's point is a good one. Those in the $150-300k/year range probably stand to gain the most from government programs that cover educational costs and health care costs. Even if they are being taxed 50%, taking home ~$10k/month post-tax and not having to send a huge chunk of it to education/health care leaves you with a **** ton of disposable income, even in SF or NYC.
If your household income is <$100k, then your family is eligible for lots of financial aid, and the burden is reduced to the point where you can afford to send your kids to Harvard/etc, which is as it should be. You just can't afford the Benz or the 5-star hotels on vacation, but you can still live fairly well.
Rex's point is a good one. Those in the $150-300k/year range probably stand to gain the most from government programs that cover educational costs and health care costs. Even if they are being taxed 50%, taking home ~$10k/month post-tax and not having to send a huge chunk of it to education/health care leaves you with a **** ton of disposable income, even in SF or NYC.