My own definition of "rich" has always been "can afford to never work again." If you can't afford to quit, you're not rich yet.
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Well, the article was about how Biden only wants to raise taxes on those who make more than $400K a year, so... yeah. He is leading the party of the working man compared to the party that just wants to cut taxes for the rich.
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This is a good point that further explains what dire straits so many Americans are in who don't even make 1/20th of that salary.
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And -- a corollary to your second point -- how frugal you were leading up to the $400k salary
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Also, that article used a $2M home as an example of a middle-class family living thrifty, so maybe it should be taken with a huge grain of salt to begin with.
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I make a fraction of that number and I live in an expensive, high-rent city (Seattle), yet I somehow feel rich as hell.
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In my modest hood of Menlo Park CA you’d pay property tax alone of $35,000 annually on a 3 BR 1950s rancher on an 8000 ft lot. And that’s assuming you could come up with the down payment and foot an 8K monthly mortgage.
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