not by your salary, but by how much you can afford. for instance, a young doctor makes good money, but he owes an arm and a leg in college loans. a couple makes good money, but they have three kids to send to college, and their salaries mean no financial aid. a single man makes good money, but like our other friend, a big chunk goes to child support.
take where I live in NC. 60,000 is a lot of money, but if you live in Raleigh, the cost of living is so high you're middle class. if you live in High Point and you make 40,000, you can afford to pay a little more.
what do you guys think about looking at it this way?
2006-07-26 08:42:56 · 7 answers · asked by cirque de lune 6 in Politics & Government ➔ Politics
this is an extention of the "tax the rich" idea. I'm just trying to get an understanding of how we determine who the rich people are.
2006-07-26 08:50:01 · update #1
I guess it depends on why the wealth is being judged in the first place.
I think a lot of what you say makes sense, but I would add that you should also consider whether or not a person can control their expenses. For example, I think you should cut someone some slack if they make a lot of money but also have a disease that costs a lot to treat.
But if a person is making a lot of money, and then CHOOSES to move to a more expensive area or to send their kids to an expensive college, they don't deserve as much slack.
2006-07-26 08:48:45 · answer #1 · answered by timm1776 5 · 9⤊ 2⤋
Weath is a measure of how much money/assets you have.
Success is a more important measure: it reflects that you're financially secure, not drowning in debt, and are achieving your own personal goals
2006-07-26 08:46:44 · answer #2 · answered by Funchy 6 · 0⤊ 0⤋
look at this way wealth isnt always how much money you are making, wealth can be held in a different way. A homeless man on the street he can be consider wealthy, most are happy, they are free, and they do as they please, they are wealthy in life and happiness. Wealth isnt always a sum of money alot of times it the happiness in your life, or the people in your life.
2006-07-26 08:48:28 · answer #3 · answered by Quasar1 3 · 0⤊ 0⤋
There is already a term for that. I think it is called disposable income. That is income after all expenses are paid.
2006-07-26 08:48:22 · answer #4 · answered by Elvensong 2 · 0⤊ 0⤋
why even JUDGE wealth? what is there to judge? If you are talking about measuring wealth, then that is OK.
2006-07-26 08:46:17 · answer #5 · answered by Anonymous · 0⤊ 0⤋
um i don't think it work fo me .sorry
2006-07-26 08:46:45 · answer #6 · answered by idontkno 7 · 0⤊ 0⤋
RECIPROCITY
2006-07-26 08:45:35 · answer #7 · answered by Anonymous · 0⤊ 0⤋