What Is "rich?" How Much Money Makes One "Rich?"

[MikeK]

The word "rich" is used almost as frequently as are conjunctive words in our discussions here but I believe many of us have different ideas of just what the state of being "rich" is.


How much money would you need to have in order to consider yourself wealthy?


How much wealth do you feel is excessive?


If you were wealthy what are some of the things you would do with your money?

 

[MikeK]

Twenty-six have read this inquiry but not one response.

Interesting.

 

[RetiredGySgt]

According to Obama and the Democrats anyone that makes 250k or more is rich.

 

[MikeK]

According to Obama and the Democrats anyone that makes 250k or more is rich.

I'm a Democrat and I believe a $250k annual income makes one tentatively secure and comfortable but not rich. I added the word tentatively because an annual income is not guaranteed. It can end. And if it does one can quickly become un-comfortable.

I believe rich is possessing sufficient assets to ensure a secure, comfortable future without having to do or depend on anything. And by comfortable I mean a nice home and all the conveniences, such as a luxury car, etc.

A $250k income will not provide that unless it is backed up by a substantial assets reserve.

 

[Quantum Windbag]

Potentially comfortably well off at some point in the future, if the government does not decide that it needs that money to pay for a billet train that no one will ride.

 

[imbalance]

I consider rich to be synonymous with elite. From that perspective, it becomes more about relativity rather than income tiers. If your net worth is in the top 10% of Americans, you're elite/rich.

 

[eagleseven]

Rich is anyone who makes more than the speaker could make after a promotion or two.

Ironically, those who most viciously protest the rich do so from jealousy and greed.

 

[RetiredGySgt]

According to Obama and the Democrats anyone that makes 250k or more is rich.

I'm a Democrat and I believe a $250k annual income makes one tentatively secure and comfortable but not rich. I added the word tentatively because an annual income is not guaranteed. It can end. And if it does one can quickly become un-comfortable.

I believe rich is possessing sufficient assets to ensure a secure, comfortable future without having to do or depend on anything. And by comfortable I mean a nice home and all the conveniences, such as a luxury car, etc.

A $250k income will not provide that unless it is backed up by a substantial assets reserve.

Yet the Democratic party, YOUR party, has set the number at 250k. They intend to over tax anyone making more then 250k. THEY have decided, at the bidding of Obama, that 250k is the magic number.

 

[expat_panama]

...those who most viciously protest the rich do so from jealousy and greed.

There may be other reasons.

Even while the likes of Obama and Rev. Wright rant about 'fat cats' and 'rich white people' they themselves hold immense material wealth and live in elite neighborhoods of extravagant homes. My guess is that this rich-bashing is a facade that hides a power grab wrought from pompous self aggrandizement.

 

[syrenn]

The word "rich" is used almost as frequently as are conjunctive words in our discussions here but I believe many of us have different ideas of just what the state of being "rich" is.


How much money would you need to have in order to consider yourself wealthy?


How much wealth do you feel is excessive?


If you were wealthy what are some of the things you would do with your money?

4 million in the bank... that would be enough to live off of the interest.

 

[Iridescence]

From my experience true wealth is more a state of mind than a state of being. 'Needs' are important if basic needs are met (food, shelter, moderate comfort, security, etc) then it seems that makes an individual wealthy. A person can make $100,000.00 a year and yet be as poor as a welfare recipient if their management of said income isn't prioritized.

 

[Mr Natural]

If your boss tells you on a Friday afternoon that you have to work the weekend and you can say "fuck you, I got plans" and not have to worry about the consequences, you're rich.

 

[LordBrownTrout]

500 billion.

 

[syrenn]

500 billion.

ill come stay with you... i am sure you would have a lovely pool house for me to live in.

 

[martybegan]

Being rich is relative. American poor people are poor compared to more well off americans, but are rich as hell compared to the poor in a lot of other countries.

Our Poor have televisons, Cars, permanent structures, phones, refrigerators. Compared to the poor in say nigeria they are freaking living the good life.

 

[MikeK]

Yet the Democratic party, YOUR party, has set the number at 250k. They intend to over tax anyone making more then 250k. THEY have decided, at the bidding of Obama, that 250k is the magic number.

While I am aware that Obama has suggested $250k as the minimum level at which a progressive tax increase should apply I have never heard him, or anyone else, say that the $250k income level qualifies one as being "rich" -- if that is what you mean by "the magic number."

If that is not what you mean by "magic number," then what level of assets possession do you regard as being "rich?"

 

[MikeK]

Being rich is relative. American poor people are poor compared to more well off americans, but are rich as hell compared to the poor in a lot of other countries.

Our Poor have televisons, Cars, permanent structures, phones, refrigerators. Compared to the poor in say nigeria they are freaking living the good life.

Your point is right on. However the circumstances you reference were common between the late 50s to early 80s as the result of the wealth distribution effects of the New Deal. But since reaganomics commenced the upward redistribution of the Nation's wealth resources the condition of poor in America has devolved to that of destitute homelessness for millions of formerly middle class persons.

In fact, the situation has become an increasingly serious problem. Tent cities rise across the country - US news - Life - msnbc.com

 

[martybegan]

Being rich is relative. American poor people are poor compared to more well off americans, but are rich as hell compared to the poor in a lot of other countries.

Our Poor have televisons, Cars, permanent structures, phones, refrigerators. Compared to the poor in say nigeria they are freaking living the good life.

Your point is right on. However the circumstances you reference were common between the late 50s to early 80s as the result of the wealth distribution effects of the New Deal. But since reaganomics commenced the upward redistribution of the Nation's wealth resources the condition of poor in America has devolved to that of destitute homelessness for millions of formerly middle class persons.

In fact, the situation has become an increasingly serious problem. Tent cities rise across the country - US news - Life - msnbc.com

There are millions of former middle class people now homeless? really?
Care to back that number up?

 

[MikeK]

Being rich is relative. American poor people are poor compared to more well off americans, but are rich as hell compared to the poor in a lot of other countries.

Our Poor have televisons, Cars, permanent structures, phones, refrigerators. Compared to the poor in say nigeria they are freaking living the good life.

Your point is right on. However the circumstances you reference were common between the late 50s to early 80s as the result of the wealth distribution effects of the New Deal. But since reaganomics commenced the upward redistribution of the Nation's wealth resources the condition of poor in America has devolved to that of destitute homelessness for millions of formerly middle class persons.

In fact, the situation has become an increasingly serious problem. Tent cities rise across the country - US news - Life - msnbc.com

There are millions of former middle class people now homeless? really?
Care to back that number up?

Go here: Facts and Figures: The Homeless . NOW on PBS

 

[martybegan]

Your point is right on. However the circumstances you reference were common between the late 50s to early 80s as the result of the wealth distribution effects of the New Deal. But since reaganomics commenced the upward redistribution of the Nation's wealth resources the condition of poor in In fact, the situation has become an increasingly serious problem. Tent cities rise across the country - US news - Life - msnbc.com

There are millions of former middle class people now homeless? really?
Care to back that number up?

Go here: Facts and Figures: The Homeless . NOW on PBS

The figures are for homelessness in general, including the poor and drug addicted as well as formerly working middle class people who lost thier job.

Your claim is that " America has devolved to that of destitute homelessness for millions of formerly middle class persons." Which is in no way substantiated in the page you referenced.