What does the term rich mean to you?

[Alias Detective 1,179]

Wife and I combined bring in $175k a year in PA. Have $400k in retirement and $130k mortgage left on a $500,000 property.

 

Are we the rich folks the libs talk about who need to pay more in to help those whocan't/don't help themselves.

[Cdub100 3,380]

Yes.

[Alias Detective 1,179]

Yes.

Yep. I'm a republican then. Thanks.

[patweisers44 697]

Not sure 100%. Positive I am on my way, but not sure when I will get there.

[edjr 5,563]

Sure you don't

[cyclone24 1,814]

I think that term is different for different people. If we are talking monetarily I think it's buying things maybe even expensive things, trips, etc and not even looking at your account. I couldn't even tell you what my bank account is at right now.

Wait let me qualify that because I know how this board gets. That's not hey look at me and I'm aware even though I do a shitload here my wife makes the big money but as a household I would say that's how I would define it.

 

For other people that's just having a roof over their head and being healthy. It's all pretty relative.

 

For guys like newbie it's how much protein shakes he has, skanks laying on his couch and Tanning coupons he has remaining.

Hah...i kid newbs.

[KSB2424 3,083]

7 figures

[titans&bucs&bearsohmy! 2,745]

It's a relative thing. My girl grew up dirt ass poor, so to her, were rich now.

 

I judge it as pretty much able to do whatever the Fock I want and it not affect my daily lifestyle.

[Alias Detective 1,179]

7 figures

In assets or income?

[Alias Detective 1,179]

I appreciate where this thread is going. I want to know, when the libs say you need to pay more "in", am I in that group or is that more like the 20 million plus club?

 

What do libs call rich and identify as needing to pay more in to help those who don't?

 

I need a ruling.

[Alias Detective 1,179]

Sure you don't

 

Don't tell anyone.

[patweisers44 697]

7 figures

 

 

In assets or income?

Assets - No. Income - probably.

[Alias Detective 1,179]

Assets - No. Income - probably.

I can see that and can agree. I think I'm upper middle class. Still scratching tooth and nail for college funding for 2 boys. Both will be driving soon and the cost with that is outlandish. Why do I feel like my pocket keeps getting picked by the tax man?

[Alias Detective 1,179]

I can see that and can agree. I think I'm upper middle class. Still scratching tooth and nail for college funding for 2 boys. Both will be driving soon and the cost with that is outlandish. Why do I feel like my pocket keeps getting picked by the tax man?

Oh and increase my capital gains tax, cause I'm the rich people who invest.....remember hearing that BS before?

[KSB2424 3,083]

In assets or income?

Net Worth

 

Assets minus liabilities.

[patweisers44 697]

Net worth

 

Assets minus liabilities.

If you are under 30 I can buy this. I am almost 50 and don't feel the same way.

[NewbieJr 540]

I appreciate where this thread is going. I want to know, when the libs say you need to pay more "in", am I in that group or is that more like the 20 million plus club?

 

What do libs call rich and identify as needing to pay more in to help those who don't?

 

I need a ruling.

It's relative. Guys like you and I, give "in" to help those who need it. Guys who make a bit less than us, pay in a bit less. Guys who make twice as much, pay in more. Guys who make ten times as much, pay in ever more. There's not a line where this half is rich and this half is poor. Hope this helps.

[cyclone24 1,814]

It's relative. Guys like you and I, give "in" to help those who need it. Guys who make a bit less than us, pay in a bit less. Guys who make twice as much, pay in more. Guys who make ten times as much, pay in ever more. There's not a line where this half is rich and this half is poor. Hope this helps.

JFC what?

 

Amazingly enough you are wrong. Half the country doesn't even pay taxes. So there is almost a dividing line of who pays and who doesn't.

[KSB2424 3,083]

If you are under 30 I can buy this. I am almost 50 and don't feel the same way.

1.2M in net worth puts you in the 94th percentile of Americans.

[MTSkiBum 1,594]

1.2M in net worth puts you in the 94th percentile of Americans.

 

That is all ages.

 

Over 20% of asians and white people will be millionaires. Of course a 65 year old would have more savings than a 30 year old.

 

https://www.bloomberg.com/features/2016-millionaire-odds/

[MTSkiBum 1,594]

I would say 500k+ a year in income would make you rich.

[Alias Detective 1,179]

Net Worth

Assets minus liabilities.

Nah, too low to be rich.

[KSB2424 3,083]

Nah, too low to be rich.

Based on your OP, you're not rich.

[Voltaire 4,558]

It's relative. Guys like you and I, give "in" to help those who need it. Guys who make a bit less than us, pay in a bit less. Guys who make twice as much, pay in more. Guys who make ten times as much, pay in ever more. There's not a line where this half is rich and this half is poor. Hope this helps.

No. That's the way it should be, not the way it is. For those whose incomes are derived more from investments than salary, they pay significantly less taxes. Shining a spotlight on that a few years ago was Warren Buffet's contribution to the discussion when he pointed out that his tax rate is the lowest rate in his office.

 

Let's see if I can dig that up for you: http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html

[NewbieJr 540]

JFC what?

 

Amazingly enough you are wrong. Half the country doesn't even pay taxes. So there is almost a dividing line of who pays and who doesn't.

Half the country doesn't pay taxes? Link?

[NewbieJr 540]

No. That's the way it should be, not the way it is. For those whose incomes are derived more from investments than salary, they pay significantly less taxes. Shining a spotlight on that a few years ago was Warren Buffet's contribution to the discussion when he pointed out that his tax rate is the lowest rate in his office.

 

Let's see if I can dig that up for you: http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html

There are a ton of loopholes that protect the extremely wealthy and their money. If anyone ever had the guts to address and fix that, many of this country's financial problems would be solved.

[TimmySmith 2,782]

Where I live, rich starts at 1.5 liquid. I am not rich.

[posty 2,296]

Half the country doesn't pay taxes? Link?

http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24

[cyclone24 1,814]

Half the country doesn't pay taxes? Link?

https://www.google.com/amp/s/www.forbes.com/sites/beltway/2015/10/06/new-estimates-of-how-many-households-pay-no-federal-income-tax/amp/

[Voltaire 4,558]

Half the country doesn't pay taxes? Link?

Uh oh.

[NewbieJr 540]

Uh oh.

Uh oh what?

[MTSkiBum 1,594]

https://www.google.com/amp/s/www.forbes.com/sites/beltway/2015/10/06/new-estimates-of-how-many-households-pay-no-federal-income-tax/amp/

 

That only looks at income tax, but when all taxes are considered, state, local, sales tax, vehicle registration, etc. The poor actually pay a higher percent of their income to the government.

[cyclone24 1,814]

 

That only looks at income tax, but when all taxes are considered, state, local, sales tax, vehicle registration, etc. The poor actually pay a higher percent of their income to the government.

Sure... but they have to pay something. They can't just milk every single service we all pay for. Guessing many of those people are on some sort of assistance that helps offset sales tax Etc.

 

Not having to pay income tax is massive.

[edjr 5,563]

Buying a $4 coffee from Dunks or Starbucks everyday

[TimmySmith 2,782]

 

That only looks at income tax, but when all taxes are considered, state, local, sales tax, vehicle registration, etc. The poor actually pay a higher percent of their income to the government.

Meh, maybe. They purchase less. This is where the working middle class gets it from everywhere.

[wiffleball 4,640]

Really got to wonder about 'people' who want to talk specifics about their personal finances on a place like this -

or really, anywhere.

[wiffleball 4,640]

Rich is the guy that was running the illegal immigrant paedo pizza shop that got killed by Podesta for not sharing enough of the freshest 'pizzas'.

[cyclone24 1,814]

Really got to wonder about 'people' who want to talk specifics about their personal finances on a place like this -

or really, anywhere.

Says the guy scouring websites to post anti-trump threads.

[patweisers44 697]

 

That only looks at income tax, but when all taxes are considered, state, local, sales tax, vehicle registration, etc. The poor actually pay a higher percent of their income to the government.

That stands to reason I guess. But I feel like everyone should have some skin in the game.

 

Isnt there some ridiculous stat about the top percent of taxpayers (1% or 10% maybe?) pay over 90% of the tax dollars? Too lazy to google it.

[MTSkiBum 1,594]

That stands to reason I guess. But I feel like everyone should have some skin in the game.

 

Isnt there some ridiculous stat about the top percent of taxpayers (1% or 10% maybe?) pay over 90% of the tax dollars? Too lazy to google it.

 

But they do have skin in the game. They pay as much of their income to the government as everyone else. It is just different taxes that they pay.

 

Taxes do not need to be raised on anyone rich or poor, spending needs to be cut.