A friend of a friend lives in San Francisco and works for Google. I’m sure he makes more than $250,000. My wife and I both work and make less than $100,000 per year. President Obama would have it believe that Mr. California is one of these rich people who can afford to pay more taxes. I’m sure he could afford to pay more taxes, but he isn’t that much better off than my wife and I are. If Zillow prices are to be believed, the price of his house is 5.3 times the price of ours, and it isn’t any bigger. In fact his yard is smaller. He doesn’t appear to have any off street parking.
Would I trade places with Mr. California if I could? Nope. The house price and higher tax burden in my opinion more than offset the extra money he makes. Given the much lower cost of living here in Indiana, we have a much higher standard of living than the difference in income would lead you to believe. I suspect most families who make over $250,000 live in places like San Francisco where the cost of living is just out of sight. So the upper middle class people there just make more money to pay higher mortgages and higher taxes.