Definition of Rich (leader, examples, top 10, Illinois)

[Darkatt]

MY definition of rich?

Two great kids, and a great grandkid! I have a place to live, eat and sleep, an car to drive, and job I enjoy! Whether I have a lot of money or not, is not the measure that I feel is important.

I am SO rich, are you?

[Maabus1999]

While the 1% is 100% better off then the vast majority of Americans, they are freaking poor as dirt when you divide up the 1% even more:



Source: The Rise (and Rise and Rise) of the 0.01 Percent in America - Derek Thompson - The Atlantic

The fact is the 0.1% and 0.01% are taking down the 1% with them in relation to the "99%" Most 1%ers are hardworking, but the wealth inequality being formed by the extreme top tier is getting out of hand, and if history proves to be any form of guide, unsustainable.

[eborg]

Originally Posted by HistorianDude

Cite the cases.

When it comes to legally speaking situations, a pension is counted in several situations such as QDROs when it comes to deciding wealth. From there they they take the actuarially calculated present value of the pensions worth to make it a current worth type of statement.

Also, not all pensions end at death, many such as Joint & Survivors and Certains can in fact continue.

[petch751]

Originally Posted by Don Draper

Having health care is not my definition of rich, maybe it's yours.

You have to work decades to get a pension plan, most government employees have not invested decades in their plan

A good pension is considered 80% of your income, so 80% of 39K is 31K, not my definition of rich, but we all have different standards

My definition of rich, if you can live comfortably off your assets, then you are rich.

You do realize that many people are lucky enough to get a pension no matter how many years they work? You should have to share.

[petch751]

Originally Posted by Darkatt

MY definition of rich?

Two great kids, and a great grandkid! I have a place to live, eat and sleep, an car to drive, and job I enjoy! Whether I have a lot of money or not, is not the measure that I feel is important.

I am SO rich, are you?

Having a lot of money is not about being important at least not with the average American. Having a lot of money is about freedom. Not depending on a job or the government.

[AKA Bubbleup]

Originally Posted by petch751

Obama who says "tax the rich" defined the rich as a single making $200k and a married couple making $250k a year. That is gross income (before taxes).

Same was spoken by John Kerry when he was campaigning (lib class warfare was in it's infancy at the time so it went over like a fart in a space suit).

Here in New York that $250K goes nowhere near as far as it would in most other areas of the country.

[petch751]

Originally Posted by AKA Bubbleup

Same was spoken by John Kerry when he was campaigning (lib class warfare was in it's infancy at the time so it went over like a fart in a space suit).

Here in New York that $250K goes nowhere near as far as it would in most other areas of the country.

Class warfare played well to the lefts base. Obama's appeals to working-class envy of the rich and to "fundamentally transform" the United States by creating a European-style welfare state. It may be the only promise he will succeed at.

The irony is the protesters call themselves the 99%. Well, in terms of the world, the U.S. is such a rich nation that the whole of the U.S. would be considered the top 1% of the wealthy if you were using the world as the database.

[petch751]

Two classes are easier to control than five. The rich will make deals to keep their wealth, and the poor will beg for government handouts, preserving the control held by our betters.

[le roi]

Originally Posted by TrapperJohn

Of course it is. How much is an annuity that pays a pension for life at age 55 worth?

the answer is irrelevant, because standard pension retirement age is 65.

Or stated differently, if you wanted to retire at age 50 like a fireman with a pension of $50k a year

Also irrelevant, because

(A) Firemen across the nation don't retire at 50

(B) Firemen across the nation don't earn a pension of $50k/year.

where i live, a firefighter makes $29,000 / year, and a fire captain makes $48,000 / year, and they retire at 55.

pensions pay roughly 50% of your annual salary, so that's between $15,000 - $25,000 / year per retired firefighter

[eborg]

Originally Posted by le roi

the answer is irrelevant, because standard pension retirement age is 63



Also irrelevant, because

(A) Firemen across the nation don't retire at 50

(B) Firemen across the nation don't earn a pension of $50k/year.

Standard pension retirement age is 65, standard early pension retirement age is 55.

(A) isn't entirely true as most firemen pensions (similarly with most all government penisons) have requirements to receive a full pension that are primarily based on reaching a specific service years requirement. If one were to start the job early, you could in fact retire at 50.

As for (B) - citation needed