Reply to I have a problem with the definition of Rich

Forum Index » Political Discussion

Reply to "I have a problem with the definition of Rich"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]How about this, OP is not rich or wealthy -OP is 'upper middle class'.  That is the term I always used.  Not really in the middle, but certainly not at that rich level where you have a big house, fancy cars, and not too many cares.  Those upper middle class folks (I would put myself in that category) certainly are not struggling and live a comparatively comfortable lifestyle, but are not so wealthy that you can tax them a lot more and not bring them back down into the middle class.  that is what is going to happen here.  if you increase the tax rate and take away deductions over $250 in high COL areas, you will just bring down more people into middle class.  Rich will continue to be rich.
Why not adjust the 250k number for COL?  [/quote]

Because that's still inaccurate.  The middle class is from the 25th to 75th percentile, e.g. the middle 50% of the earning population.  The upper middle class is roughly the 60-75th percentiles.  In the US, median HHI is around $50-60K.  In the DC area, median HHI is about 75K in the district and about 90K in the suburbs.  The 75th percentile HHI in the nation is probably around 100-125. In the DC area, that's probably about 125-175K.  So, upper middle class even in this area would be about 125-175K.  250K is something like the top 5% of even the DC metro area.  Yes, there are many thousands who make this, but you are talking thousands of HHI 250K and over in a metro area of millions.  There is no way that you can reasonably call the 95th percentile upper middle class even if they don't feel that they have the buying power of the rich.  The point is that OP lives in this area and has many, many choices and advantages that 90% of the metro area do not have.

For those people who feel that $250K is "middle class" please stop redefining the term.  You can make up new terms to avoid calling yourselves rich, but the fact is that middle class and upper middle class are terms that are defined and trying to expand them to include those who have more does not help those who actually make middle class incomes.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics