Sorry, Pal, You're Rich

I make less than the average income at $41K. It is true that people that make $250K are rich and can afford a higher style of living. Taxing them more, however, is not the answer since they already account for 80% of all income tax. The problem is that 50% of American households do not pay income taxes. Therefore, how can you ask those who are paying over three-fourths of the income tax to pay more when half are not paying anything? Talk about an imbalance of taxation!

As I said in my very first comment - $250,000 would definitely be on the borderline between rich and upper-middle class. The simple determination is "if the income were to disappear suddenly, would the person be on the proverbial street within a year". All the rainy day money and savings - gone. If you would be, you aren't rich. If you wouldn't be, then you very likely are. That doesn't mean that upper middle class isn't pretty nice to be in while you are there. But if the economic spigot were to run dry, where would you be in a relatively short period? Rich means having means to live without laboring for a long time.

Thank you for this article.

I don't know much about this culture because the people I know think they're doing well at anything above $20,000 a year. Give them much more and heck, they might even buy a house! Anybody making in the 200K range feel like investing a few thousand into a down payment trust or something so some folks in my area can buy a house? At 3% down for FHA each $2K could provide another family a home and they would gladly pay that money back. People around here can make a payment, but they sure don't have a few thousand sitting around in a bank acount. I'm not speaking of Welfare people here. Just hard working families that work 40 hours at the restaurants, grocery stores, or the local Wal-Mart. I'm a RE broker and I can find them houses in the proper price range all day long. How about Emailing me at RN7755@msn.com. What a simple way to put a few dollars to do some actual good. Heck, you can come on and meet with the folks you are helping. I'll buy the lunch.
Rich Norman

I think the only fair income tax is no income tax. we shouls have a national sales tax and nothing else income wise. Then all people will pay ther e fair share as all people buy things.Even illegals will pay their fair share..The united states is the #1 tourist destination in the world especially with the dollar performing poorly against the euro. A national sales tax would capture money from all those who travel here. by eliminating income tax and switching to a national sales tax the playing field will be made in a way where those who consume and purchase the most pay the most taxes and this to me is the only fair way to go,becaues $250,000 a year is no where near rich in my book

Agreed. $250k is rich. It would be top 3-5% of incomes. There is no way that is middle class. It is just another way for the Democrats to try to fool people into believing that their taxes won't be raised. It is clear that they WILL tax almost everyone. Be afraid if you make more than $80k per year.

http://www.beyondthemargin.net/2008/08/capitalist-ideal.html

This is the most ridiculous thing I???ve ever heard. I have a friend who is a doctor she makes about 300k a year her husband is a teacher which probably makes 40k a year. They have 3 kids and they have a nice house but nothing special for the area considering all the houses in the area are gated communities in Florida where they live. Well they pretty much live paycheck to paycheck probably do to the fact of their debt from their educations. They don't drive fancy cars they have a Honda mini van which is two years old and they do not own multiple homes they are just average working people like you and me. They should not be targeted as wealthy because they decided to do better for themselves and go to school for 10 years and not sit at home collecting a welfare check every month. This woman put in her time and she is helping people every day curing heart disease which is the number one killer now a days. Maybe you news organizations should stop promoting a president because he is black or white and you should look at the real issues.

Obamas tax plan makes no sense. I was in the military and we use a term called ???reinforcing bad behavior??? when you have people that are eligible for a earned income tax credit getting back thousands of dollars when they do not even pay taxes and Obamas plan is to triple that, Why the hell would they want to better themselves and get better jobs if everything is giving to them.

Here is another catch 22 Obama if you tax corporations more then they have less profits so fewer dividends are paid which drives down stock holder values. Is this guy deliberately just trying to ruin what???s left of the economy?

You know what I love best is all the people who buy into the energy commercial Obama is running. ???The hands that install roofs can install solar panels on roofs??? hey last time I checked 1 hp is 750 watts of electricity. A solar panel produces hardly any power that???s why they are used in low voltage DC current applications. Get real people you???re living a dream???. go spend a few thousand on beautifying your house with solar panels so you can save 5 cents a month on your electric bill great idea from a guy who wants to be president.

Seriously are we really getting stupider as a nation???

Well now isn't this funny. Someone crying because they don't think 250,000 a year is high income. Well move somewhere else and see how that 250,000 job goes out the window. There are Americans that make it on much less then that and struggling to make ends meet. They don't live beyong thier means. Stop buying or using your money on foolish things and perhaps you would see the writer of article is right. Your not in the middle your rich.

I live in Wilmington, Delaware and make 105,000.00 - this seems to me to be medium income for the area I live in
Your thoughts
I live in downtown are of the city

RICH

(Pronunciation adjective, -er, -est, noun)
???adjective 1. having wealth or great possessions; abundantly supplied with resources, means, or funds; wealthy: a rich man; a rich nation.
2. abounding in natural resources: a rich territory.
3. having wealth or valuable resources (usually fol. by in): a country rich in traditions.
4. abounding (usually fol. by in or with): a countryside rich in beauty; a design rich with colors.
5. of great value or worth; valuable: a rich harvest.
6. (of food) delectably and perhaps unhealthfully spicy, or sweet and abounding in butter or cream: a rich gravy; a rich pastry.
7. costly, expensively elegant, or fine, as dress or jewels.
8. sumptuous; elaborately abundant: a rich feast.
9. using valuable materials or characterized by elaborate workmanship, as buildings or furniture.
10. abounding in desirable elements or qualities: a man rich in kindness.
11. (of wine) strong and finely flavored.
12. (of color) deep, strong, or vivid: rich purple.
13. full and mellow in tone: rich sounds; a rich voice.
14. strongly fragrant; pungent: a rich odor.
15. producing or yielding abundantly: a rich soil.
16. abundant, plentiful, or ample: a rich supply.

Based on the definintion of rich, I think we can consider $250K earners as having abundant or plentiful funds. This mean's they make more than the average earner. This does not mean they are "as rich" as the guy down the street. Perhaps these complaining individuals need to re-evaluate how they spend their funds. If they re-budget and live within their means, they may find value in John McCain's theory ("Some people are wealthy and rich in their lives and their children and their ability to educate them. Others are poor if they're billionaires." ).

Mike, who posted earlier, says he pays $100K tax on a $250K income. You people don't think that's enough? He puts kids in private school, which provides jobs, spends what he has left to generate more jobs and stimulate the economy. What do you want to see happen? Take it all away, give it to the government, and let small business dry up? Stop living jealous lives. You need guys like Mike, you're just too stupid to know it.