What Does “Wealthy” Mean to You?

Now that Barack Obama is the presumptive Democratic nominee, he’s seriously talking about what he intends to do for the economy if he wins. One of those things is repealing tax breaks for the “wealthy.” For Obama, the wealthy is the 2% (according to BusinessWeek) of Americans that make more than $250,000 a year.
But some are saying that $250,000 doesn’t constitute wealth. Some of those who make money in the $250,000 to $300,000 range are complaining that costs are rising just as much for them (even though others would argue that they are better able to absorb the costs). Plus, …read more