Seems like that is the magic number where the politicians want to start raising taxes. Is that "rich" if you live in NYC?
2007-09-17 08:52:09 · 15 answers · asked by civil_av8r 7 in Politics & Government ➔ Government
Ha!
$250, 000 in NYC is NOT rich - It's the most expensive city in the country. to live in. 1 BR aparments are going for just under a million $ in NYC. and a loaf of bread is 5$.
$250, 0000 is rich in Florida, Iowa or Nebraska. Not NYC.
Places where the tax rate is lower and the median income is smaller would make a 250K salary a king's ransom.
Unfortunately, Most politicians make more than that, but hide their cash in offshore trusts, then tax us little people.
2007-09-17 09:01:16 · answer #1 · answered by Smug Monkey 4 · 2⤊ 1⤋
I have great friends, a wonderful family, and my health is good. I live in a modest apartment that costs me $590 a month, and I drive a '02 Ford Taurus. The small northeastern Indiana city I live in provides me with excellent snow removal services, garbage collection, and other amenities that make my lifestyle easier.
Before I retired, I used to earn almost $100,000 a year. Many of my jobs included 'perks' such as luxury company cars, 'entertaining' clients in five-star restaurants, traveling all over the world (sometimes 30 airplanes in a week), going to Broadway shows, savoring top-shelf bourbon, gambling in Vegas, hob-nobbing with movie stars, etc., etc. I was too busy with my job to notice that my two stepsons were growing up without me around, and without recognizing that my fourth wife was becoming a chronic alcohol abuser. It was certainly the 'high' life with beautiful women, an annual $204,000 expense account, lots of drinking and debauchery, and all of life's "good things". Now, after almost thirty years, my wife and I are separated, most of my money has gone trying to keep her out of jail after multiple alcohol-related incidents, my stepsons don't bother to call, my parents have both died, and I have few 'real' friends left.
What friends and family I do have I cherish like I never did when I thought I was a 'success'. But I believe I'm 'richer' now than I've ever been in my life. -RKO- 09/17/07
P.S. By the way, I live on a $1,027.60 monthly Social Security check.
2007-09-17 09:58:16 · answer #2 · answered by -RKO- 7 · 3⤊ 1⤋
You raise a very good point. People keep talking about annual income as if there were a national standard for where "rich" begins. Tax policy plays in to that game, too. I lived in a part of California where the "poverty" level for a family of four was around $90,000 per year. Yet, at the same time, there are many rural regions in the US where a family income of $40K would have you living the good life.
2007-09-17 09:02:37 · answer #3 · answered by nileslad 6 · 4⤊ 2⤋
Of coarse $250K a year is reach even in NYC. I live in a state nearby and have a family of 3 making $165K per year and this is sufficient enough to pay a mortgage on $500K home, 2 car loans, to shop at Newman Marcus and to go to Europe twice a year.
2007-09-17 10:32:31 · answer #4 · answered by Anonymous · 2⤊ 1⤋
$250,000 per year is rich to most people!! Even here in Southern California, that is a very nice income. I'm sure it's the same in NY. Maybe not owning-a-private-jet-and-a-yacht rich, but it's still comfortable.
2007-09-17 09:32:32 · answer #5 · answered by Shelley L 6 · 3⤊ 1⤋
My husband and I both work our asses off (he is biotech, I am an Admin..and we make $80,000 combined..here in Southern California, that is not rich. We rent a 2 bedroom condo because buying a house is out of the question. We are a family of 4 plus my mom, who I support.
2007-09-17 10:02:51 · answer #6 · answered by Anonymous · 3⤊ 1⤋
Well, In my mind it is rich, but I suspect if you live in the city , that the cost of living is more expensive. And reality in most cases is that no matter how much you make , you generally live beyond your means. So your probably right. but your making well over 200,000. more then we managed to raise 4 kids on. And in my mind the bills are paid and that, is all that counts in my book.
2007-09-17 09:04:51 · answer #7 · answered by fuzzykitty 6 · 3⤊ 1⤋
I have a family of four and my husband and I both work fulltime and we only make 28,000 a year. If I made 250,000 I would consider myself blessed, rich, and loving it! That's in my dreams!
2007-09-17 09:00:04 · answer #8 · answered by mom_of_two 3 · 4⤊ 1⤋
So you're saying that a doctor is NOT rich?
Doctor's can make anywhere from 150K to 300K a year. I think that anyone that makes that much has everything they need to live comfortably if not lavishly.
2007-09-17 09:25:28 · answer #9 · answered by cheezbawl2003 4 · 3⤊ 1⤋
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2016-05-19 02:15:34 · answer #10 · answered by ? 2 · 0⤊ 0⤋