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muriel_volestrangler

(106,350 posts)

10. I think "your lifestyle wouldn't be diminished if you stopped working" is a bogus measure

Thu Feb 28, 2013, 08:15 AM

Feb 2013

That means that people who currently spend more than their investment income cannot be rich, even if their investment income is huge. Yes, someone with half a million of investment income is rich, whether or not they have a job too, and whether or not they spend more than that half million.

You appear to want to redefine "rich" as "content about the amount of money they own". If you want that re-definition, then you have to throw away the claim that "we all want to tax the rich".

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Deep reflection time: what's "rich"? [View all] jmowreader Feb 2013 OP

Certainly the top 1% of the wealth distribution is rich. And wealthy. limpyhobbler Feb 2013 #1

I wonder how many of those are paper rich jmowreader Feb 2013 #4

the richest 20% hold 95.4% of the Financial wealth in the USA, poorest 80% have 4.6% rabid_byter Feb 2013 #2

+1 HiPointDem Feb 2013 #3

Anyone who has significantly higher income or accumulated wealth than you do is rich slackmaster Feb 2013 #5

Chris Rock has a point of view on this. NSFW but very funny CincyDem Feb 2013 #6

Shaq is rich, but the white man who signs his checks is wealthy NightWatcher Feb 2013 #7

It's relative. Relative to where and how you live. geckosfeet Feb 2013 #8

Maybe not $10 jmowreader Feb 2013 #9

I am inclined to use net worth as a measure as well. geckosfeet Feb 2013 #11

I think "your lifestyle wouldn't be diminished if you stopped working" is a bogus measure muriel_volestrangler Feb 2013 #10

+1 nt laundry_queen Feb 2013 #14

Pretty much everyone I saw at the Oscars. Zax2me Feb 2013 #12

Rich laundry_queen Feb 2013 #13