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Well, that's certainly what they mean when the government talks about 'the rich' as a pejorative. You only need to look at SS tax limits, phase outs for tax-adv
by briHass 3y ago
Well, that's certainly what they mean when the government talks about 'the rich' as a pejorative. You only need to look at SS tax limits, phase outs for tax-advantaged savings plans, and income exclusions for subsidies like the recent energy efficiency one to realize any household making over around $150K is considered rich.
Of course, this makes sense. The vast majority of the tax revenue comes from the upper-middle/upper class. There just aren't enough of the upper-upper class (1%) to pay the bills. I'd wager almost everyone on HN in the US falls squarely in the range considered to be the group that needs to be squeezed.