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Originally Posted by MarchHare
IIRC, Obama and the Democrats stated that only people with an income greater than $250,000 per year would see a tax increase under their plan. While there's obviously a huge gap between making $250k and being Bill Gates, I think by anyone's definition you're doing pretty well for yourself if you gross a quarter million per year.
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This is a pretty well written
article about if $250,000 should really be considered wealthy. For those who don't feel like reading it the conclusion is:
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The bottom line: For folks like the Joneses -- who live in high-tax, high-cost areas, who save for retirement and college, who pay for child care to enable them to earn two incomes and who pay higher prices for housing in top school districts -- $250,000 does not a rich family make.
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It just seems like the $250,000 just doesn't make sense to be the definition for wealthy. Maybe 10 - 15 years ago but not in todays environment.