I know it's hard to sympathize with someone making low 6 figures who complains about the difficulty of surviving on a single income. Well, our growing demographic -- white Manhattan parents of young children -- now has a median income of $284,000, which is more than double my salary. If PP and I were both to work, there would still be no way we could reach this level. PP and I constantly compete with these wealthy families for limited resources, which is why many daycares cost $30,000 a year and have year-long waitlists.
Plus, we did our taxes tonight and were told that regardless of whether we both work, we have to pay the AMT. Since New York City taxes are absurdly high, that means our average (not marginal) tax rate is now 38%. I think I am going to throw up.
(Photo by KB.)
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