Does an income of $300,000 make someone rich? (attorney, husband, salaries)
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In my area $300K is close to double the median household income. Does that qualify for being labeled rich? Not in this area. Well off sure, but not rich.
The median home cost here is $488K Add about $150K to that for the median single-family home price.
$300K would qualify as rich in most counties in VA just not in Northern Virginia.
Having 300k a year is a nice paycheck.. I know a woman who won 4 million on a lottery and it was gone within 10 years.. she had gambled it, bought expensive cars and frittered it away..she lived in the same town.. she got poor again.. and looked it..
While she had a few dollars to spend she looked wealthy for a while . She was poor to begin with and ended up that way. I saw her when she had a dollar but she acted aloof.. I never approached her when I saw her thinking she might think I want some of her money..I had my own.
She lost it all and became friendly again and came over to say hi and talk.. was strange she only talked when she was broke . Maybe many people asked her for money , there are all kinds of people out there.
Reading comprehension is you friend. I didn't say "you", as in you specifically. I am saying "you" as in all of the people who make 300k. So it is not I that has made a fool of himself. At 300k, you do not know what middle class looks like. If that is you, then yes, I am talking about you. I don't care if you live in Boston, or NYC, or SF. You are not middle class at 300k a year. You are in the top 2-3% of the country in yearly earnings. How is that middle?
damn, that is a horrible example. So now 30 mill might be considered rich?
I can't believe you guys are dumbing yourself down to win this debate.
the simple fact is that in 1957 '''rich''' (top bracket) was considered a household income of 400k.....in todays dollars that would be 3.3 million
why would you DEFLATE the value below that???
back when clinton was in office middleclass was defined as 50k-250k...1993 clinton defined rich as 250k when he created a new tax bracket at $250,000 and raised the rate to 39.6 percent....250k in 1993 would be 412k in todays dollars
why would you DEFLATE the value below that???
300k in 2015 is NOT RICH, it is middleclass...uppermiddleclass but still middleclass
why would you lump 300k into a defination of millionaires and billionaires (the rich)???
$300K a year is only $6,000 a week. If you have a mortgage to pay, taxes, insurance, tuition for the kids and a little bit tucked away for savings there's not a whole lot left.
Because you are comparing that salary to the whole country. If you compare it to other salaries in those areas, it's not "rich".
Read my other posts. I clearly said, certain areas may be the exception. Even in those certain areas, you are much more well off than 95%+ of the people around you. That still puts you out of middle class, even in those areas. In my opinion of course. When the average or median income is around $50-60k in your area, 300k is still great a bit more than what most people make in your area. So to say it isn't much because it cost more to live there still does not ring true.
In Boston, correct me if I am wrong, but the median income is less than 60K. According to the Boston Globe, the wealthy people of Boston make an average of 224k. So the Boston Globe even acknowledges that 300k is wealthy in Boston. How do all those people survive when people struggle at 300k?
In NYC it is also less than 60k. How do all those people survive if 300k is not enough?
Point is, even in expensive areas, you are much more well off, and some might even say rich.
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