This discussion of what it means to be “rich” in America in this Washington Post article bears some consideration. Certainly, two income households could find themselves bringing in more than $200,000 a year, especially if both partners are professionals. This article brings up some interesting questions: Is a person rich if s/he makes more than $97,000 a year? After all, the median HOUSEHOLD income in 2006 was $48,200. Would your answer change if that person lived in San Francisco,CA or Temple, TX? Would your answer change if that person owned a yacht, owned a second home, was paying for a prolonged hospital stay, or was putting kids through college? How do we make these distinctions between rich, upper middle class, and middle class in America? Where does our median household ($48,200/yr) fall? And, how do we make sure our tax policy encourages all earners to save for their futures?
-Lonny Stern | Communications and Outreach Director
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