I depends on where you live. I make more than 75% of people yet I am by no means rich.
CEO's are not paid based on anyone's personal opinion. The captialist marketplace and supply and demand dictate it. Hey, I'm not a rich CEO but I don't begrudge the person who is. His/her wealth does not make me any poorer or richer.
My point is not what neighnbor hood you choose, but what region. At the same income a person can be rich in Tulsa but middle class in NYC.Is that really an argument though, since no one is forcing you to live in a neighborhood of million plus dollar homes? You could make more than 9/10 people you could find in the country, but if you live in Beverly Hills you're not "rich" by their standards.
We need to define "rich" only by how much you make compared to other Americans, since that way though averages we get a standard reading. Picking out expensive to live places is no different than anecdotal evidence, and it's not like they can't commute like poor people have to.
I am concerned less with whether they are creating jobs than they are adding value to the company they work for. Too many CEOs are rewarded for failure and for damaging companies.I do not care what these people make. I just don't. What I care about is whether they're creating jobs or not, and whether they're gaming the system or not (hello, Goldman Sachs). Want to buy a yacht? That's great for the people who make yachts. Want to buy a new car every year? That's great for the rest of us, the "old" one will still be in good shape and sold for a much lower price than what you bought it for so someone not as well off as you can have it for less. And when he trades his car in, which would be serviceable but not as nice, that similarly helps out someone not as well off as him, and so forth.
But whose responsibility is it to make sure they're doing that? How about the board, the investors, and so forth?I am concerned less with whether they are creating jobs than they are adding value to the company they work for. Too many CEOs are rewarded for failure and for damaging companies.
My point is not what neighnbor hood you choose, but what region. At the same income a person can be rich in Tulsa but middle class in NYC.
How about this. My buddy just moved from Arkansas and he was telling me that at my income I could live in the rich neighborhoods and would be concidered rich. Here in PA I am considered middle-class and live in a nice, but fairly average home. Yes, when you get into the 90% rich is rich anywhere, but where the divide is really depends upon more factors than income.That might be true to a point, like if you make 50k instead of 60k, but is that really the case when you start reaching the 90th percentile of wealth and such? I'm going to wager no.
Besides that, taking it as a whole population averages it out. If you make more than 95% of Americans, you can live pretty much anywhere and be rich.
So where could we draw the line of "rich" in your opinion? Wpiman, I want to hear from you on this too.
How about this. My buddy just moved from Arkansas and he was telling me that at my income I could live in the rich neighborhoods and would be concidered rich. Here in PA I am considered middle-class and live in a nice, but fairly average home. Yes, when you get into the 90% rich is rich anywhere, but where the divide is really depends upon more factors than income.
That might be true to a point, like if you make 50k instead of 60k, but is that really the case when you start reaching the 90th percentile of wealth and such? I'm going to wager no.
Besides that, taking it as a whole population averages it out. If you make more than 95% of Americans, you can live pretty much anywhere and be rich.
So where could we draw the line of "rich" in your opinion? Wpiman, I want to hear from you on this too.
Rich in income or rich in assets? Are we talking about money earning potential of work + assets?
I'd say once you are netting $1 million -$2 million a year; you are probably rich in my book. That would be over a sustained people of time-- not a one year fluke.
No, I don't want a salary number.
If someone walked up on the street and asked you to say "You are rich when you make more than X%," what would you say? I don't care if you do it by assets, I don't care if you do it by income. Just flat out what would you say generally speaking.
I think its obvious that 'rich' is 'dem whos gots more than us.
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