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Originally Posted by Wagner
Well from that "wiki":
So I guess the middle class is anyone under, what, $500K....1M? Again, that isn't an answer and when a person says "I understand the middle class" or "rich can afford more taxes" I'd like to know what that means.
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I'm in the top 5% and I'll tell you I'm far from "Rich" living in the San Francisco Bay Area. It really depends on where you live but I consider someone "Rich" who gainfully employed making over $250,000 a year and has over 2 million cash on hand. The cash on hand is important because someone making $250,000 with nothing in the bank is on the brink of being poor. The true determination of how "Rich" someone is has much to do with total wealth and not how much they make a year.