What annual income do YOU consider "wealthy"?

[Sky King]

Did you read what I posted on the way the US used tariffs and not taxes till 1913. Many countries do this & Trump wants to also.

 

[bullfrog !]

Did you read what I posted on the way the US used tariffs and not taxes till 1913. Many countries do this & Trump wants to also.

Did you read my reply? Higher tariffs means higher prices to the consumer. Many of the poorest people in this country already don’t pay taxes and can’t afford to with our already high medical costs! Trump just insured drug prices stay higher by killing Biden’s orders to lower drug prices. Guess he isn’t really worried about lowering costs of living for.the majority of Americans by keeping his promises to do so! His polices only help the wealthy get wealthier in my opinion. Be interesting to see how his supporters feel when they go further into debt because of higher prices on drugs, food and imported goods!

 

[rruff]

We have tax brackets so why isn't the term defined?

I think we've noted that taxable income is a poor method for determining how rich someone is...?

I started using the word oligarch (wealth + political power) a long time ago, because the typical term being used was "elite"... which is far too flattering IMO. These are the rich who undermine democracy and fair competition to suit themselves.

 

[dhuff]

People always talk about "the wealthy" as in they don't pay their share of taxes, Control how the country is run, only for themselves. Etc.

What net worth and/ or annual income do YOU consider wealthy & why?

In my mind, "wealthy" ("jr. wealthy" ?) begins at around $400K/yr annual income. Anything roughly below that is upper middle class these days.

 

[Morgana]

Nathan Hamilton, "Fifteen Dollars"

"It may not feel like much, but I'm wealthy just the same"

 

[bullfrog !]

Nathan Hamilton, "Fifteen Dollars"

"It may not feel like much, but I'm wealthy just the same"

Roughly 210,000,000 American citizens state they have no money left at the end of a pay period and live paycheck to paycheck. There is a huge difference between having a few dollars left in your wallet the day before payday and sweating out the last day with nothing. The three richest men in this country have more wealth combined than 155,000,000 of our country’s citizens combined. Do you think that might be a problem? There are definitely 3 that don’t! lol!!!

 

[Dirtrider]

I have no issue that some people have loads of money if they legally earned it, more power to them.
My biggest money gripe is when the "government " spends it on total BS projects, payoff business associates, and other way I personally don't agree with. Again, I consider this non- political since they all seem to do it...not just one or the other.

In reading the replies, it seems like they are broken into 2 types. Numbers that answer the basic question and the human side, the amount needed for someone to feel wealthy. It's difficult and different for us all I guess but trying to be your best & happy is better than being " wealthy".

 

[bullfrog !]

I have no issue that some people have loads of money if they legally earned it, more power to them.
My biggest money gripe is when the "government " spends it on total BS projects, payoff business associates, and other way I personally don't agree with. Again, I consider this non- political since they all seem to do it...not just one or the other.

In reading the replies, it seems like they are broken into 2 types. Numbers that answer the basic question and the human side, the amount needed for someone to feel wealthy. It's difficult and different for us all I guess but trying to be your best & happy is better than being " wealthy".

Those 3 people pretty much along with a few hundred others with a common interest have been allowed to not only buy our government pretty much and “take” not only our tax money but use our imperfect system to steal our wealth in my opinion.

 

[rruff]

I have no issue that some people have loads of money if they legally earned it, more power to them.

Define "earn" and "legal".

Our laws have greatly shifted in my lifetime, to favor the rich forever getting a greater share of the pie into their accounts. This has made the rest of us poorer. Real GDP is the pie size, it ain't unlimited.

The sort of investments that make us richer are technology and infrastructure. The financial shenanigans and riding a wave of asset price escalation, aren't doing squat for people who work for a living. Real wages have been stagnant for over 40 years.

 

[Morgana]

"Nonpolitical" and "nonpartisan" are not the same thing. Just because both sides do it doesn't make it nonpolitical. I'd be surprised if there was a single thread in the political forum where somebody hasn't argued that both sides do it.

But since we have chosen to go political and keep the discussion in this forum anyway, here's my $0.02.

Definitely define "earn" and "legal."
There is no way anyone can "earn" a billion dollars, let alone 400 billion.
They are gaining this money inside a system that helps them (tax breaks, government contracts, etc etc etc). That system was created by US (or at least, by the charlatans who claim to represent us, and in our name). When what they are doing ceases to benefit us, then we have a right to ask why we, yes we, are helping them.

NOBODY succeeds alone. And nobody wants to go back to dog-eat-dog, every-man-for-himself days.

When the thin pretence that this bargain is good for everyone wears too thin, people start to notice.

 

[Sky King]

Nathan Hamilton, "Fifteen Dollars"

We were married in TN & had told my bride I was poor. She looked in my check book & saw I had $14 she said I was poor poor. I've never felt poor. The good Lord always takes care of us.

 

[dhuff]

They are gaining this money inside a system that helps them (tax breaks, government contracts, etc etc etc). That system was created by US (or at least, by the charlatans who claim to represent us, and in our name). When what they are doing ceases to benefit us, then we have a right to ask why we, yes we, are helping them.

"We all too often have socialism for the rich and rugged free market capitalism for the poor." ---the Rev'd. Dr. Martin Luther King Jr.

 

[regis101]

My number of friends can be counted on one hand. I'm the richest man on the rock.