On Oct 19, 12:51*pm, wrote:
BTW it is far less than 99% of the people who are really in trouble.
In the US we seem to be defining "rich" as the people who pay income
taxes (53%) It does describe anyone who makes more than about $50,000
a year or so. To say that if you are not paying income tax, you are
poor, is silly. A couple making $100.000 a year, no kids, no mortgage
deduction, taking the standard deduction, will pay less than $12,000
in income tax. Yet we still have people saying their taxes are too
high.

Depends on where you live. Around here, $50K/year is definitely lower
middle class, if not below middle class. You certainly can't live
well on that and it takes serious parsimony to purchase one's own
home, or even to rent a place all by yourself.

nate