Does the USA government's definition of "wealthy" make any sense?

Question

Couples who earn a combined income of $250,000 or more year are considered wealthy. I think individuals who earn more than $250,000/year could be wealthy, not couples.

Answer 1

If you live in NY where taxes are the highest in the country, average homes are 400k, apts are 2k to 6k, water bills are 2k a year.  Insurance is double the national average.  250k is not even middle class.  By the time Fed. State and City taxes, Social Sec., Medicare and Workman's' comp are deducted you net 130k.  Now you have property tax, school tax and struggling to make ends meet.

Answer 2

Even a couple that makes $250K a year is wealthy in my standards... that's $125K a year per individual! After all, the average annual income in the world is only $7,000 a year.

Answer 3

ewwww no

Rich people make 800k +++ a year

wealthy people make atleast 30 million ++ a year and have a net worth in the hundreds

my dad told me that the difference between the rich and wealthy is that the rich need to work to maintain their lifestyle...the wealthy only work because they want to.

So eww 250k is by no means wealthy..its not even rich.. I think its upper middle class.

Its still a great salary though but the government is just out to get tax money.

Answer 4

Yes considering that they have allowed to outsourcing of many of the middle class jobs which has lowered the average salary to about $31,700 per year.

Answer 5

No. It depends where you live in the country if that is considered a wealthy income. If you are asking about the tax Obama plans to levy on you, don't worry. All the rest of us will be included.....he plans to tax everybody, not just you. What the stupid voters think is that they are safe and you are going to pay more. The liberal Democrats have done a great job with promoting class envy.

Answer 6

No person or family is wealthy that makes less than 1 million pounds per year after taxes.