$150 000 - rich or not rich?
Posted by: devylkitten
17th May 2011 04:31am
I would like to know how people feel about the governments budget plan to reduce family payments/benefits to households whose annual income is $150 000? I personally feel that this is an adequate benchmark as there are so many families struggling on less. However, I don't have children(or earn anywhere near that amount a year). I do work two jobs and pay excessive amounts of tax - which is fair enough. Does $150 000 a year in income mean a family is basically rich enough not to need the governments family payments?
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Comments 22
paradox
I'll more than likely get shot down here but I will voice my opinion anyway. I think that yes you can be classed as rich when you compare your income to the miserly $16 000 the government deems to be sufficient for pensioners. for most of us that are over 65 there was nor superannuation paid by our employers. If our salary was not enough to put money aside for our future, we have to live off the pension payments. I have brought up my 3 kids on one wage and never had enough left over to save for a house deposit. There was always something to be bought for the kids or the family and we made do with whatever we could afford. Being rich is all about what you think you need to have or what you can afford to have. I'm rich because have my extended family but precious little material value. I do not need 2 cars or 2 TV or the newest gadgets. Family and friends are what's important to me. That doesn't mean it has to be your cup of tea. Merry Christmas
godsbaby
if you are getting over $3000 a week, you might not be rich bur you are better off than most.. Bank mangers and pollies get a lot more than that a week.. I think that there are alot of people who need help but miss out on it because of red tape or the greed of others...
Anonymous
yes it does if a family on 35000 a year can struggle by then 150000 a year is surly enuff if it isnt then what are they doing with it just because you have shouldnt mean you get to waste it and thats with everything in life the problem is were all trying to step on each other to further our own needs when if we gave each other a hand then life would be better for everyone
keith
Families earning $150,000 a year are not rich but, probably, have sufficient income to meet all reasonable living expenses, without expecting government assistance.
Kitty999
The trouble is that people can't distinguish between wants and needs and a lot of what used to be wants people now consider to be needs.
If you think life is hard on $150,000 a year trying living on a pension where even some food items become a luxury.
Anonymous
this is best thing to government but sometime wrong decision to government every family is family income to good some people stuggling to job less so government take action to poor people.
Steve49
Huh!
Yellow-sun
I feel that $150,000 is enough for a family to live on. I think that many families have a morage that is beyond their means. The other question I would ask is that the families that say that they can not afford to live on this amount without government handout what do you spend your money on? We are a single income family and both of our children are in primary school. My husband earns nowhere near that amount and we struggle at times but we make sure that all our bills are paid and he and I go with out.
Anonymous
this amount is not rich by any stand ed there cutting all moneys but when will this stop house are to expensive to own, stamp duty increased tax',s increased new tax applied, but they say we are doing well? food electricity gas petrol rego for cars water rates land rates insurance all increased . But our wages stay the same, talk about tightening the belt.
WHAT'S CHEAP clothes electrical appliance air fares every thing that is not an essential, pensioner must be excited for their raise that they will received in 2012 $250 for carbon tax not counting the state government who receive rent take there cut ,young families cannot get permanent work only part time if they are lucky but the government is screaming for more trades-people and cannot train the Australia youths over the past years how bizarre
YES we are the lucky country
Anonymous
this amount is not rich by any stand ed there cutting all moneys but when will this stop house are to expensive to own, stamp duty increased tax',s increased new tax applied, but they say we are doing well? food electricity gas petrol rego for cars water rates land rates insurance all increased . But our wages stay the same, talk about tightening the belt.
WHAT'S CHEAP clothes electrical appliance air fares every thing that is not an essential, pensioner must be excited for their raise that they will received in 2012 $250 for carbon tax not counting the state government who receive rent take there cut ,young families cannot get permanent work only part time if they are lucky but the government is screaming for more trades-people and cannot train the Australia youths over the past years how bizarre
YES we are the lucky country
sajjadsuleman
If the inflation remains on the same path then this income will shrink to the level of the low level income earners. But for the time it is good income for the family to live on even without any benefits. This is my own thinking and I cannot force anyone to agree with this.
sajjadsuleman
I think $150000 is a great income for a family and they will be able to go for good things in life. If they r not getting any benefits, they should get a bit of tax relaxation so they can have more disposable income to spend on their family.
Steve49
Sounds pretty rich to me, I'm a disability pensioner who has to (barely) subsist on one tenth of that.
woolysmissus
How rich or poor you feel depends on how you manage your money. There are people with millions that spend so much and have so many expenses to keep up a certain image or lifestyle that they stress more than a 'poor' person. If I lived as I do now and made $150K per year, I would indeed feel rich. If a $150K income is shelled out willy nilly.. then they too will never feel their ends meet. It is just a line in the sand the government is making. I'm sure they have figures, etc, to back it up, but it is all basically money coming in - money going out, isn't it? We all adjust to the amount we have coming in. Personally, I don't want to be paying for flood victims because insurance companies rip people off and they don't bother to read the fine print. I don't want to pay child care for people who chose to have children or be taxed to pay for women to stay home with their children and not work. It all comes back to the taxpayer in the end. If you chose to have children, plan for it. If you choose to spend all your $150K income, then don't ask for a handout. There are people who are struggling because of the economy, unemployment, health, age and other issues. Maybe these items should be factored into the 'who gets government benefits' equation, not just how much money is coming in the door. It is time for Australians to start being a bit more responsible for themselves.
aptx4869
I agree with you. It all depends on how you manage your money. So many people are not even rich but they like to pretend they are and buy new phones every time something new comes out, gadgets, TV etc and new cars so other people can see that they have a new car. They use up their money and end up freeloading of the government because they claim that they are not coping.
We don't spend much but we have many millions of dollars worth of houses that we rent to out other people. No one knows this because we don't try to portray any image of being rich or anything because we don't care. All this tax we're paying is going to people who don't plan ahead/manage their money.
blondie72
Re: Tax payers having to pay for people who choose to have children's childcare, and stay at home mums, as well as things like the dodgy insurance comapnies ripping off their customers....I agree 100% with you that tax payers shouldn't have to foot the bill for that! Baby bonus is another one issue that infuriates me - why should tax payers foot the bill for that?! I used to work when I could and I also resented having to pay tax for other people's poor choices.
Chicken
Chicken
I am looking at this partly from a New Zealand perspective as I dont know the full background from the Australian political side. A few years ago, anybody with an income of an income of $150.000 was virtualy considered to be a millionaire. Nowdays several people have that level of income but I have to say that, as you mentioned, the good old family life has sufferd for it in some cases. There are several two income families etc who are like that just to keep their income at lhat level. I keep going back to the good old 'When is enough enough?' and 'When is ample too much? questions. There are thousands of low paid workers and beneficiaries out there who are careful with their money but still struggle. What heally gets to me is that the people who basically decide what these people get have INCREASES larger than the annual income of the lower paid ones. Is that fair?.
silvester
I agree with what your saying but as you put it some people over commit themselves to have these mansions ,they should look at there income first to what they can afford because if you have a average house and have income coming in for a $150.000 a year you you should be living comfortable and thats what centre-link look at .
19chris51
sorry I mean $150.000pa
19chris51
I honestly agree with what is being said by BLONDIE72 and CHICKEN, I am on a disability support pension as well, don`t have much left over after payday, but at least I can suvive.I also agree with the Jones set theory,people want everything now, NOW, if not now, then Yesterday, yes keeping up with the Jones. WHY are people especially young people wanting so much so quickly, it just drives up prices, wages , cost of living is skyrocketing, ON $150.00 pa, YOU SHOULD BE ABLE TO MAKE ENDS MEET???????????
blondie72
Wow Chicken - you summed up what I have been thinking for a while now quite well! I am one of those who struggles on welfare (cannot work due to disability) and also one who never fails to pay my bills on time due to strict discipline with the measly amount I get to live on each fortnight. After paying rent, electricity, phone, car insurance, contents insurance and having to save up for months for things like greenslips, car services, and even haircuts - I have absolutely no quality of life outside my home and NEVER go anywhere. I don't have any family to help me out or support me except my daughter who is young and just starting her way in the big wide world herself. WHO are these politicians with NO real idea about the cost of living and how hard it is just to put food on the table after paying the bills to decide and (Tony Abbott) to say we get too much help?? I'm furious! I can't even turn on my heater (if I could afford one) to keep warm because I can't afford to pay the energy costs of running one. There are so many others in a similar situation to me, elderly pensioners included who ARE doing the right thing and could prove it if challenged by showing where all our money goes.....(mine is usually all gone on bills before I even get it) so I'd like to know how they come up with the figures they do?
As for people living on $150,000 a year - I wouldn't say they would be 'rich' but they certainly wouldn't have to worry about heating, haircuts, and where their next meal is coming from - I'd imagine life would be quite comfortable for them but in saying that I certainly wouldn't put them ALL in the same basket either. Some would have borrowed huge amounts to build gigantic houses that will take them a while to pay off and along with the house would be all the trimmings to fill it, new cars etc....the Jonses Set as I like to refer to them even on $150, 000 a year could still struggle if they have over committed themselves, so I guess it would have to be judged 'individually' on their circumstances.
I could go on forever over the fairness and UNFAIRNESS of this subject so I'll keep it short and sweet - the Government needs to STOP putting everyone into groups and start means testing again as well as judging people's circumstances on an individual basis - Are you listening Centrelink - Child Support - especially! People's circumstances don't always 'fit' into your rigid 'groups' and I believe individuals should have caseworkers to support and help them on their INDIVIDUAL circumstances....gee, imagine the jobs that would create too?