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you are only rich status when you can buy whatever you want basically, when bills come you can pay them without sweating, if you can vacation and travel whenever you want.
etc etc
250k/yr is NOT rich
you cant do what i said above on $250k
1 million aint even alot of money... a person can blow a million dollars in 30 days or less
Income is not the primary measure. Wealth is. I would consider anyone with mean household financial (non-home) wealth greater than $1.5 million to be "rich." That's about the top 20%.
I agree wealth is the appropriate measure. But I don't think $1.5 million in semi-liquid wealth is anywhere near rich.
I think someone is rich when they do most anything they might want to do without worry about money. $1.5M evaporates quickly when you travel nicely. My non-scientific definition of rich is at least $25M.
I know people worth $10M and I would describe them as "very comfortable" but not rich.
most are not rich. you could be rich with 40k a year easily. the problem is not filling up a money bag that is easy, the problem is the great big gaping holes in the bottom
most are not rich. you could be rich with 40k a year easily. the problem is not filling up a money bag that is easy, the problem is the great big gaping holes in the bottom
You better be careful. Liberals may change their mantra of tax the rich, people making $40,000.00
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).
One does not enter a negotiation with final offer.
It ended up being a new tax on that portion of income greater than $400/450K a year and was done, if I recall, in exchange for making the Bush tax cuts for the 99%, permanent.
This incremental increase impacted the President, Surgeons and Specialists, CEOs, top Wall Street bankers and lawyers and top celebrities/entertainers and had no impact on the majority of the people.
Income is not the primary measure. Wealth is. I would consider anyone with mean household financial (non-home) wealth greater than $1.5 million to be "rich." That's about the top 20%.
1.5 million doesn't go that far today. Taxes eat up most of it.
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