How much money is rich? (page 2)

Sentinel

By "societies" standards, you might consider a family income of say, $120,000. a year to be "rich". Where I live, in No. Virginia, USA, that is merely a "drop in the bucket". People around here buy homes for $500,000. and still aren't considered wealthy.

It depends upon where you live, and the cost of living in that area. Since this area leads the world in hi technology, it's more expensive to live here. Some of us just get settled into jobs in areas where we didn't consider the cost of living prior to our decision. Then we are stuck in jobs and have pensions, etc., that we can't afford to give up. That's why when folks around here retire, they usually head south to live out the rest of their lives.

It's all relative anyway.

Ravyn

My husband and I moved down to TN from New England. We went from paying $1200 a month for a two bedroom apt with no utilities to paying $550 a month for a three bedroom house. Food is cheaper, heating is cheaper. However, he got laid off 6 months ago. They just turned the cable off today and I had to borrow money from relatives to pay the electric bill. There is no work here. He has put out hundreds of resumes since last July. He has gone from middle management in the telecommunications industry to begging for a job delivering pizzas. we cant stay here, but now we have no money to move on either. He found a job in VA. It pays enough. Cost of living is more. The company will move us, but on loan, we have to pay it back. I am not more than 2 months behind on anything, but I feel utterly poor. Six months ago I was rich in the same place. Three years ago we were only 2 weeks from living on the street, and that was even with him working. So it is all relative. Six months from now who knows? I can't even guess anymore in this economic and political climate!

I think rich is when you have more than you need. Never been there.

Ravyn

email

"For 1999, the most recent year for which complete Internal Revenue Service statistics are available, 6.3 million taxpayers whose incomes were in the top 5 percent paid more than 55 percent of all income taxes. They had incomes above $120,846 a year meaning two spouses could each earn a bit over $60,000 and be considered among the nation's richest." source: http://abcnews.go.com/sections/business/Tax2002/taxes_rich_020415.html

<sigh> ... and yet Democrats wants us "rich" people to pay more... it's SICK.

That is punishing success... If you're successful then you are punished by paying more taxes... If you busted youre a$$ for 4, 6, 8, 12 years getting your degree, Masters, PHD then you have to pay more... OR even if you DONT go to college but you have good skills you work hard you make a good living same thing YOU PAY MORE. if you don't make it in life and/or you're a lazy bum then we'll give you tax breaks... but "rich" people should pay more... my question is... WHYYYYYYYYYYYYYYYYYYYYYYY? Does ANYONE think that's FAIR?? I am sorry that is a COMUNIST mentality. Why are these people so envious of people that have actually succeeded in life?

Edited by - email on 23 January 2003 15:49:21

William Penwell

Yes it is sad that we judge as person on how much money they make. I agree I know the riches people in the world and yet they are not finanically wealthy.

Will

teenyuck

I would say over $700,000 per year, for an extended period...of course, depending on your job, you will get an increase every year of 5-10%...at that executive level.

Once you have that much money (if you don't go on spending sprees) you should be able to buy what you need, some of the things you want, and still save for retirement.

I looked up (on the proxy statement filed the pay of the CEO and other company execs a company headquartered here. Their salaries are in the $290k to 1.5 million range. Their bonus' are more than my husband's salary.

I pulled this off the web and XXX'd out the names to protect the..........hmmm, cannot call them innocent:

Fiscal Year Ending: February 2, 2002	Total Annual Comp.	Long- Term Incentive Plans	All Other	Fiscal Year Total
XXXXXXXXX	$2,183,671	$0	$2,255,751	$4,439,422
XXXXXXXXXXXX	$592,899	$0	$106,231	$699,130
XXXXXXXXXX	$593,028	$0	$117,382	$710,410
XXXXXXXXXXXX	$526,094	$0	$86,398	$612,492
XXXXXXXXXXXX	$486,048	$0	$7,739	$493,787

DETAILS OF ANNUAL COMPENSATION
Fiscal Year Ending: February 2, 2002

SalaryBonusOtherTotal Annual Comp.XXXXXXXXXXXX $911,638$1,266,320$5,713$2,183,671

XXXXXXXXXXXX

$338,461$253,200$1,238$592,899XXXXXXXXXXX$338,461$253,200$1,367$593,028XXXXXXXXXXXX$312,116$213,000$978$526,094XXXXXXXXXX$290,038$196,000$10$486,04

Francois

It really chaps my ass that anyone busts Bush's chops because he's rich.

Ted Kennedy is richer than Croesus. Nobody busts his chops because of it.

Those people complaining because Bush is rich are not complaining about his money, they're complaining because he's conservative, instead of being liberal, like them. Damned hypocrites.

Clinton is known to have a cool million in his checking account fer crissake. Anyone hear anyone complaining about that?

That Kerry dude from MA, was rich BEFORE he married Senator Heinz' widow. Now he's richer than Croesus. PLUS he gets all the pickles and steak sauce he can use for life.

Damned hypocrite leftists.

francois

Navigator

Swan has got it right. Rich is a matter of consciousness. So is poor. Jesus knew what he was talking about when he said,"the poor will always be with us". The truth is that we all have a rich Father.

Yerusalyim

According to the Democrats "rich" is any HOUSEHOLD (not person) that earns $92,000 a year. That's a lot of money in some areas, but out in NYC, NJ, or California, where houses go for $300,000 the bar for "rich" describes middle class.

To me, rich is $150,000 or better a year. Still depending on where the person lives.

My household earned right at $42,000 last year. My federal income tax (after the return) was less than $200.00. I'm not being over taxed.

expatbrit

Rich is half a dozen return air tickets to anywhere in the World per year, and more importantly, the spare time to use them.

Expatbrit

How much money is rich?

Share this