Rice University Says Middle-Class And Low-Income Students Won't Have To Pay

Re:Rice University Says Middle-Class And Low-Income Students... by harimau777 on Tuesday September 18, 2018 @05:04PM (#18019112)

What sort of lifestyle do people making $65000 have? In the US if you taxed $65,000 at 42% there would be almost no cities where you could live comfortably and securely. As a conservative estimate for a small city I would say: mortgage: $6,000 car payment: $2,400 gas: $1,560 food: $1,560 retirement: $10,000

That leaves about $11,500 for clothing, entertainment, emergency savings, vacation, education, etc.

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Re:Rice University Says Middle-Class And Low-Income Students... by rayiner on Tuesday September 18, 2018 @05:39PM (#18019393)

Their tax system is progressive too, so just the money above $65,000 is taxed at 42%.

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Re:Rice University Says Middle-Class And Low-Income Students... by filmgirlcw on Tuesday September 18, 2018 @05:41PM (#18019404)

In this scenario, you're way overestimating with $10k for retirement. Put that figure at $5k or maybe even $3k. Long-term, is that ideal? Not really -- but as you say, you need to budget for clothing, entertainment, emergencies, vet bills, etc.

Regardless, people and families do it all the time and do it on less.

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