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How Rich Is Rich? Where America Draws The Wealth Line

Wednesday, August 24, 2011 - 9:46 AM
From DailyFinance
This is not a good time to be rich in America. This country has always had a love/hate relationship with its wealthiest citizens, and the financial hardships of the Great Recession have only broadened the chasm between the rich and the poor. Today, with millions struggling to pay the mortgage or fill the gas tank, the small wealthy fraction who have reaped the rewards of an exploding real estate bubble and rising gas prices have become especially reviled.

The trouble is, while everybody knows that "the rich" are the enemy, it's hard to determine where exactly the line lies between hard-working, salt-of-the-earth members of the middle class and parasitical, bloated plutocrats who are feasting on a struggling economy. Part of the problem lies with America's famed egalitarianism. In a country that prides itself on social mobility, the idea of a clearly-defined upper class seems somehow inappropriate. For that matter, with financial insecurity leaching its way into even the wealthiest households, few people are comfortable describing themselves as rich.

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WhataBummerWhataBummer413 posts since
Oct 15, 2010
Rep Points: 1,702
1. Wednesday, August 24, 2011 - 11:17 AM
(1) It is never about the money...

(2) It (money)  is never enough...

(3) Money (to the degree of living comfortably) cannot buy happiness.  On the contrary, it brings more misery/evill to people. 

(4) I am sure that people who (even though I am not one of them) own $20M are not content; neither are those with $30M, ...
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
2. Wednesday, August 24, 2011 - 3:22 PM
I totally agree that money cannot buy happiness.  However, it gives you independence not to tolerate things you might hate: a boring job, the pushy boss, etc...   Also, you don't have to worry that much about satisfying reward checking requirements :)
mariafaltermariafalter57 posts since
Jun 6, 2010
Rep Points: 222