This is a few days old, but should not be missed: The New York Times did the requisite story on just how hard it is to be rich on only $500,000 a year, the maximum income for a few bailed out bank executives under the new Obama administration policy.
Private school: $32,000 a year per student. Mortgage: $96,000 a year. Co-op maintenance fee: $96,000 a year. Nanny: $45,000 a year. We are already at $269,000, and we haven’t even gotten to taxes yet.