auditor0007
Gold Member
According to Obama rich is 250K.. I on the other hand think you need a net worth over 1 million to be considered rich and that is not even that rich.
If you earn $1 million per year, then you are either rich or very stupid for not being rich. On the other hand, having a net worth of $1 million does not, in my book, qualify you for being rich. You are well off, but definitely not rich.
And no, people should not be taxed on their wealth, but the should be taxed at a reasonable rate on their earnings.