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The article's definition of rich is a real stretch. The article says the top 40% pay all the taxes. But, the top 40% of households includes every household earn
by jarrett 13y ago
The article's definition of rich is a real stretch. The article says the top 40% pay all the taxes. But, the top 40% of households includes every household earning about $65,000 or more.[1]
Remember that this is household income, not individual. A household making $65,000 could consist of, say, two adults and three children. Depending on where in the country this household lives, that might amount to a difficult or comfortable standard of living, but not lavish in any case. This doesn't fit the prevailing understanding of the word "rich."
[1] Two-year-old source: http://en.wikipedia.org/wiki/Household_income_in_the_United_States http://en.wikipedia.org/wiki/Household_income_in_the_United_...
- drzaiusapelord 13y agoIf rich in the US is a measly 65k per household then we're good and fucked. If I made 32.5k and my wife made 32.5k then we are far, far from rich, even in "cheap" Chicago, let alone NYC or SF. I suspect this is just more class warfare astroturfing from those rich enough to own the media and create political narratives that benefit themselves.