What's a high income in the United States? Right now, ask 10 Americans and you'll probably get 10 answers. The reason the topic is mentioned here is that views on income help determine U.S. income tax policy: they help push the U.S. Congress in one direction or the other.
I've worked for extended periods in two fields - journalism/financial journalism and academe - so I know the attitudes and values of these cultures perhaps the best, and it never ceases to amaze me how views on income differ in these United States.
You make how much money?
On the university campus I attended for graduate study, the University of Connecticut, most academics, staff and a good portion of the students would view a $500,000 annual salary as a lot of money. In fact, if a tenure-track professor made that much, there'd probably be protests and accusations of greed and a misallocation of resources.
Conversely, in the private sector, particularly among Fortune 500 companies, a $500,000 salary for an executive is often viewed as low or inadequate - and this in the same country as the above university!
Point: As with other economic issues, the United States is divided over what a high salary is, and until Americans can arrive at a consensus, look for income tax policy changes to experience rough-sledding. It takes a supermajority - 60% support or better - to support a federal income tax policy, and right now, the nation is only in the argument review stage.
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Reader Comments (Page 1 of 1)
8-08-2009 @ 1:43AM
mauriciolopezsr said...
I thought Obama settle that @ $250,000.00/year!?
8-08-2009 @ 11:50AM
thedude said...
The sad thing is that the highest paid employees of most universities are usually the athletic coaches (even if they have consistent losing seasons)
But I agree with Mauricio - Obama set the bar at $250,000.00
Not that it's really going to matter when tax time rolls around -the middle class will still end up getting bent over
8-09-2009 @ 2:50PM
Wyly said...
Yes but unlike most employees at the university people pay big $$$ to see the Coaches perform. When was the last time that someone paid money to see an administrator or a dean do their job?