$1.2 Million Dollars Is Not a Lot. Relatively Speaking, That Is.
My father and I got into a bit of a disagreement over Charles Rangel’s recent publicity problems. Actually, he cut off the discussion before it could get underway, which is probably for the best.
Apparently, Rangel has a number of rent-controlled apartments in Harlem. I have no problem with that if it’s legal, although it is certainly unseemly for a powerful Congressman to be living large when so many of his constituents are struggling just to put food on the table.
However, as I read the article aloud, my father interjected with “He’s only worth about $1.2 million or so. That’s not a lot of money.”
I looked up. “‘Not a lot of money’? Can I have $1.2 million dollars please?”
That’s when my father got upset, said “Forget it!” and walked off.
He’s right that $1.2 million dollars isn’t a lot of money, relatively speaking. I suspect that a lot of Congresscritters and Senators are worth far more than that. But here in Brendan World, $1.2 million dollars is a LOT of money. With $1.2 million, I could pay off my house, my student loan, and all my credit card debts; buy a new computer, buy a new house in a better neighborhood, and buy a Toyota Prius; go to Europe on vacation for a few months, and take a year off from work; get a Master’s Degree or a law degree or a teaching certificate; and still have more money left over than I knew what to do with.
Again, I have no problem with Rangel’s arrangement if there’s nothing illegal about it. Nor am I chastising the Representative for his income. In fact, like my father I’m surprised Rangel isn’t worth more.
However, the statement that $1.2 million dollars isn’t a lot of money should probably have the words “relatively speaking” tacked on the end, because for most Americans, $1.2 million IS a lot of money.
2 Responses to “$1.2 Million Dollars Is Not a Lot. Relatively Speaking, That Is.”
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July 15th, 2008 at 8:54 am
i think it is really shitty for rangel to be holding onto that illegal 4th apartment for his office.
but unfortunately your father is right, esp. when you get older. half of that could easily be eaten up by medical bills when you get into your 70’s or 80’s, and have a serious medical condition. even if you are insured to the hilt. and if you need to stay in one of those assisted living places? fuggedaboudit.
the whole system is out of whack but don’t blame it on your dad! of course you could do alot with that money now, but he’s just thinking of the future for him and your mom, and is probably worried about losing money in a crash. and hopefully there will something left for you!
July 15th, 2008 at 9:52 am
Ya know I thought about that too. but then i thought about all the perks congresscritters have: government guaranteed pension; health care for life; franking; etc.
I definitely understand the concerns about retirement, medical costs, and losing it all when (i don’t think “if” is the operative term anymore) the system collapses. It’s just the way it came out.