$250,000 A Year Makes You Wealthy….Kind Of
So President Obama finally "picked a number" as to whom he'd refer to as the wealthier folks in the land. Let me preface this by saying I don't care WHO said it....
the President, one of the financial talking heads of a financial network or one of the geniuses who is currently running for President. And now it turns out that depending on where you live in the U.S., the government might calculate your taxes differently. Boo hoo for people who decided to live in super expensive metro areas???
The "number" had to be picked.
Why? Because it matters. Folks need to know what that "line" is as to when you've made it and when you haven't. For some reason, Americans (in my own opinion) are completely incapable of deciphering that for themselves.
The "number" had to be picked....although it doesn't mean the same thing across the country. For instance; someone could lead a pretty darned comfortable life in rural Iowa on $250,000 a year. But knowing what little I know about actually living in Manhattan, $250,000 a year would clearly not go as far when your rent is $4,000 a month.
This article from CNBC.com is worth the read. I sure as hell don't make $250,000 a year, but I DO live in the most expensive county in Montana. I don't have a hefty car payment, but I DO invest a significant portion of each paycheck before it even hits my hot little hands.
It probably wouldn't matter if I made $25,000 or $250,000....I just don't think the government should treat me (financially) different based on where I choose to live. -m