How much is rich... ?

Question

Okay, for a household of 4, let's assume that is average family. How much is rich for them ? According to liberals, 1/2 million is rich. I think they are way too rich and liberals in the case are not really helping that much

http://news.yahoo.com/s/ap/20070107/ap_on_go_co/democrats_agenda

Answer 1

Rich is always just out of reach, unless you are Bill Gates and the numbers are totally against you.

I think Democrats want there not to be fighting over the tax increases, and there are a very small percentage of people making over $500,000 per year, their children go to private schools and they don't worry that they won't be able to send them to college and still pay for their own retirement. At some point less than that, those 'basics' to Americans become debatable. Obviously, the farther down you go the worse it is, but in an area with a high cost of living, $200,000 per year is not considered 'rich'. They are juggling mortgage, school costs and worrying about retirement and college for their kids.

In a lower cost of living area, they might be 'rich' by most people's standards.

When you start saying everyone who can own a house in California or New York, no matter how hard it is to keep it or how long ago you bought it, is rich, you are redefining what 'middle class' means in the US.

More importantly, from the Democrat point of view, you are suddenly fighting a lot more people to get tax reform.

Answer 2

GOOD question. You can't really set a figure on "rich". Who the heck decides what the income guidelines are anyway for poverty level, middle class, upper middle class, etc. should be?
No matter what you make, you will start to live up to your income and still get into debt, buy more elaborate things, bigger cars and homes, etc. Someone living(trying) on minimum wage who works 40 hrs. a week will GROSS $10,712 a yr. If you look at the "guidelines" this is at or below poverty level if you have a family. Hell, I think it's not enough to support one person on comfortably. They in turn will think someone making let's say $9.00 an hr ($18,720) is "rich". Compared to their gross for the yr, I guess it is. The same slob who is classed as middle class making the $9.00 an hr will think someone making $15.00 an hr.($31,200) is rich. So on an so on.
You get accustomed to living a certain lifestyle depending on how much you make. NOW, take the guy who has been making $15.00 an hr for 15 yrs. and make him live on the same amount the poor guy who makes minimum wage HAS been doing all along and he would consider himself poor. he would have to change his lifestyle drastically. No more vacations, no more steaks and shrimp for dinner, no new car every so many yrs.
What I want to see is the politicians who decide how much the minimum wage should be to have to live on it and support a wife and 1 kid for a year. NO perks from work, NO free haircuts, NO company car, free gas, NO NOTHING. AND especially NO tax break. Think they could do it? Then maybe they would get a little more generous with the raises and more often and quit lining their pockets. If they want something FREE, let them go to a FOOD BANK and get the FREE crap they hand out every month, and have to eat it because they make a couple dollars too much to get ANY assistance from ANYWHERE else.

Answer 3

rich is when you have enough capital, that it makes you a 7 figure income a year, without any physical labor other than picking up the phone and calling the broker.

middle class, is having to physically do something for anything under 7 figures a year.
the people between middle class and rich are well-off.

and poor, is having to put up with some ahole for 8-10 hours a day for under 20k a year!

Answer 4

Nobody Is Rich.Just Because People Are More Well Of Then Others That Doesnt Make Them Rich.

Answer 5

Well I'm a Liberal and I don't think that 1/2 is rich. I think rich is probably 10 million and up.

Answer 6

richness is not measured in money,,,my riches are the love in my family and amonst my friends ,after all what god is a nice house a lake and lots of money if you have no one who cares for you or you for them ,,,money and everything you ever whanted in tghe world will never make you rich ,,,,only loving people around you can do that ,happiness can not be bought ,,and all these things people try and get in their lives is sily as you cant take any of it with you when you go ,,there is nothing wrong with being rich if you remember what is actually worth more ,,,,,,,,,,,,,,

Answer 7

I would say rich enough you dont need to work anymore. Many have a million in equity but still have to go to work everyday, they are well off yes, but I wouldnt call that rich because they still need to work every day.

Answer 8

How much is too pretty? To athletic? To smart? To dumb for our own good to fall for this crap from people who darn well know the legal ways to protect monetary assets.

Answer 9

they are rich.

Answer 10

according to libs who want the tax cut repealed anyone making over 30k a year