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Income above $250k is by definition in the upper 2% of incomes in the Country. That is not anywhere near being in the middle class. No spin can change that.
Bob, you are completely out of context. I live near Boston, and 250K is not at all wealthy here. Try buying a home for 600K for 1200 sq ft....your looking at too simplisticly...
Wealthy isnt dictated by income, its indicated by assets. You can have $250K a year in income, but if you're spending $300K a year on coke, your broke.
On the opposite side, you can bring in $25,000 a year, but have assets of $10,000,000 and be wealthy.
Are some of you folks forgetting about what the city and state takes out of these salaries ?
Haven't you read that states are now getting on the "tax the rich" bandwagon and raising their local taxes ?
Are you in a vacuum here thinking it's ONLY Federal income tax they pay ?
How many entities can tack on their "tax the rich" into someone's paycheck ?
You know... I wouldn't mind paying more Taxes if our Fed Govt was more responsible in how they spent the money. The deep hole in Washington can never be filled by any additional tax on it's citizens.
At this point almost any money we send to DC is 50% recklessly wasted.
Location: Visitation between Wal-Mart & Home Depot
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Quote:
Originally Posted by florida.bob
Income above $250k is by definition in the upper 2% of incomes in the Country. That is not anywhere near being in the middle class. No spin can change that.
$100k is supposedly in the upper 10% of incomes. That's borderline poor for a family in a city.
$250k is a great income, but the standard of living afforded just means that that family has a bigger house, a nicer car and a little more breathing and leisure room than a family making $80k and they can save more if they are smart. It's not like that kind of money is a quantum leap in standard of living even though it may seem like it to the family making $80k. It's actually a stupid place to draw the line in the sand.
If you're in Silsbee, Tx or Apopka, Fl, for example, then yeah - $250k buys a lot. New York? You're a chump and there are a million of you and all of them are apartment poor.
Last edited by jimboburnsy; 07-10-2012 at 09:06 AM..
250k on the coasts is middle class, while in other parts of the country you'd be swimming in $$$.
My buddy and his wife are both in this situation. Both got PHD's, hard working etc. and with lots and lots of student loans.
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