What is "rich"? (user search)
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  What is "rich"? (search mode)
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Author Topic: What is "rich"?  (Read 5548 times)
Ban my account ffs!
snowguy716
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Posts: 22,632
Austria


« on: June 24, 2009, 09:32:01 PM »

It's hard to define "rich" as a broad term since some people are rich simply because they don't spend money.

I'd say having an income of over $200,000/year for a single person is rich.  I do like the definition where your money works for you rather than working for your money.

I think another safe definition would be living a comfortable upper middle class lifestyle with little or no debt and overall financial security.  Some people who make $150,000 year don't have much leftover because they're sending their 4 kids to private college with little financial aid.

In any case, I strongly support progressive income taxes both for income as well as excessive capital gains.
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Ban my account ffs!
snowguy716
Atlas Star
*****
Posts: 22,632
Austria


« Reply #1 on: June 24, 2009, 10:01:33 PM »

I think another safe definition would be living a comfortable upper middle class lifestyle with little or no debt and overall financial security. 

By your definition I'm rich then. I guess I can stop playing the lotto twice a week.

But you also work for your money.  How long would you have financial security if you lost your job tomorrow?  I also don't know what you consider upper middle class.  I think your'e probably closer to regular middle class.
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