Quote:
Originally Posted by LouisVanDerWright
^^^ The best don't report incomes that high. If you think Rahm is actually making $200-300k a year you are crazy, he undoubtedly has huge sums of money and income streams that all pay in a tax advantageous way. I doubt what he is reporting is even half of what his gross income is.
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I didn't mean to imply a) that that was from a single income stream nor b) that it would all be reported nor c) that people like Rahm are typical of "the best." Rahm, and people like him, are "the best of the best," so there's no practical limit to what they could earn. When I said "the best can earn it on a one income," I meant one person's income, not one stream of income (although that might also be true in some cases). My larger point is that in a city like Chicago there are thousands of couples where they both work and both earn "around" $200k. Maybe one earns $350k and one earns $150k, maybe they both earn $225k, but GPs, many corporate lawyers, executives in smaller corporations or upper-middle management in large corporations, upper management government roles, they all pay in that ballpark. There is a lot of variability, but the medians land in those ranges.
And, specific to Rahm, I'm sure his actual income is some multiple of his mayor's salary. But if he didn't have to devote such a huge chunk of his time to one income stream, he could perhaps increase his "day job" income by a factor of ten while also keeping most of the rest of his income streams (unless you believe he's actually super-corrupt and pulling in a ton of bribes that only come because he's Mayor - I don't think he's squeaky clean, but I don't think that he's corrupt in the bribes sense, but I'm sure some people do).