If you make over 75,000 a year, are you rich? (hell)

[Fluffy]

Seeing as 2.7 billion people live on less than $730 (adjusted for PPP) a year, earning $75,000 a year makes you a hell of a lot richer than a hell of a lot of people.

[GeneCosta]

Originally Posted by tomspug

I agree with that statement doppelganger, and I know for a fact that an American can achieve that from any background. The current set of rich elites in our country are FULL of people that came from nothing and simply worked hard. How's that for opportunity?

You are speaking from a totally inaccurate position that upholds the myth of American exceptionalism. Children born to low-income parents have less than a 1% chance at being in the top 5% at the peak of their career. Likewise, someone born to medium-income parents only has about a 1.8% chance. If this is considered social mobility, I'm a freight train. People born to parents in the top 5% have a 22% chance of staying there, with about double that likelihood of remaining in the top 6-10%.

Understanding Mobility in America

Rags-to-riches tales were popular during Henry George's days, too.

[9-10ths_Penguin]

Originally Posted by tomspug

I agree with that statement doppelganger, and I know for a fact that an American can achieve that from any background. The current set of rich elites in our country are FULL of people that came from nothing and simply worked hard. How's that for opportunity?

"anyone can become rich" <> "everyone is rich"

Originally Posted by tomspug

...However, I still hold that it takes an arrogant and wealthy nation to not recognize this: that you don't have to be "wealthy" to have all of your needs met and to be happy.

"Poverty" is not being able to meet your needs. The only people in America like that are simply bad with money.

"Not in poverty" <> "rich"

Edit:

Originally Posted by Mister_T

Depends on where you live.

If you're legally allowed to freely move to a cheaper area, have the financial means to do so and could still support yourself there (either with a job, or off your investments if you have enough of them), then couldn't living in an expensive area be considered a "luxury"?

[Reverend Rick]

Originally Posted by 9-10ths_Penguin

If you're legally allowed to freely move to a cheaper area, have the financial means to do so and could still support yourself there (either with a job, or off your investments if you have enough of them), then couldn't living in an expensive area be considered a "luxury"?

Ding ding ding we have a winner! Frubals!

[Willamena]

Originally Posted by tomspug

If you make over 30K a year, which is practically everyone in America, you are rich.

That sounds like the poverty line. So there's no more "middle class"?

[Reverend Rick]

Originally Posted by Willamena

That sounds like the poverty line. So there's no more "middle class"?

Perhaps not. If your poor you look upon the middle class as rich. More and more middle class folks are becoming rich, which might explain the shrinking middle class.

[Willamena]

Originally Posted by Reverend Rick

Perhaps not. If your poor you look upon the middle class as rich. More and more middle class folks are becoming rich, which might explain the shrinking middle class.

Actually, I would think more and more of them are becoming poor and showing up on Jeopardy, but maybe that's just me.

[nutshell]

Originally Posted by Willamena

Actually, I would think more and more of them are becoming poor and showing up on Jeopardy, but maybe that's just me.

ding ding ding

We have a winner.

[Reverend Rick]

Originally Posted by Willamena

Actually, I would think more and more of them are becoming poor and showing up on Jeopardy, but maybe that's just me.

What do you think poor is? Having only one computer or car? People are strapped for cash, I will give you that. Is this because they have no money or that they have lived beyond their means and are in over their head in debt?