Show of Hands

Icpshootyz, tax deductions in no way cover all expenses for kids, in families large or small. I know because I'm the mom of five!! Addressing the question, it's a function of where you live. In Georgia, you're wealthy. In Hawaii or connecticut, where we've also lived, you're comfortable.

Family size? Apparently you've never heard of deductions for your dependents, no? Learn the tax code before chiming in.

Depends on size of family and location.

It amazes me how people hate and are jealous of the rich and successful.

Depending on the area, I'd say that would most likely make you well-off and comfortable, but not rich. Where I live, it wouldn't really get you very far.

I make 260K a year. I consider myself very, very lucky and wealthy. Am I stinking rich? No. But I have zero money worries. That is being wealthy to me. I pay more in taxes than most people make a year. That's wealthy. No other way to put it.

Shaq is rich. The white man who signs his check … is wealthy. "Ah, here you go, Shaq. Go buy yourself a bouncing car. Bling, bling!"

--Chris Rock

Not in California!

@Nobama; Amen. And amen!

Not in New York

obama is a moron, over 250k is not rich! even if it was everyone should pay the same PERCENTAGE of taxes, thus the reason we should institute a flat federal consumption (sales) tax and repeal the income tax law

Tax the MILLIONAIRES AND TAX EVADERS. Not those making over 250

It depends - lets think without taxes and payments yes. But, with higher taxes, student loans that have you the needed education, a family, and regular needed expenses. It's no where near the amount of money needed to have taxes raised

No it's definitely not in higher taxed and expense states like Ca and NY. What other brackets fail to realize is how harsh the percentage increase is. It's like the government wants to punish those that work extremely smart and hard while 50% of earners don't pay any federal income taxes.

Lol income graph

Hahahahaha republicans

We would get significantly more money if the government focused on getting the people who avoid/don't pay taxes to actually pay them then always chasing down the people that earn 250k

Wow...the demographics on this put things into perspective.

in business expenses and the math comes out to where he makes $75000 but has to pay the taxes of a guy that takes in 3 TIMES the amount he does. So to keep things going he will have to let one of his workers go, then times his situation by just 100,000 and that makes unemployment #'s go WAY up.

A family? Yes, but the reason republicans argue taxing "households" above $250 is because that will include small business owners like my father that some years "makes" over $250 a yr but has yet to ever go over $275. Problem is he has 3 employees that he pays $50000 each + $23,000

Heck, I consider a household income of $150K+ wealthy! That's $75K per parent if there are two parents. You don't make $75K a year typically w/o a degree. It's not super rich or anything but that's much more than average. Some households with two parents make less than $75K combined!

Do not confuse emotion and feeling with thinking.

Those of us under $250k a year should be pissed at the 50% of our fellow citizens that pay no tax whatsoever. I don't care if all you throw in the pot is $100. Everyone should have to pay something. The Dems pander to the leeches and then the leeches give them their vote. Disgusting.

The top 20% of earners in this country pay 94% of the taxes. The rest of us chip in a whopping 6%. You will not see that on social media though. A lot of these prosperous people actually don't mind paying taxes. What peeves them is that the money is wasted by the federal government.

...the business and the jobs they created. That's why Obama is called the destroyer to those who are astute. Where you live is a factor as well. $250k in Cali is not the same as $250k in Illinois or New York. You may live high off the hog in one place and be run of the mill in another.

Over $250k is doing really well but I wouldn't consider it wealthy necessarily. A lot of small business owners file as individuals which would technically penalize them if they were taxed more. A lot of the income goes to running the operation and not their pockets. If that money goes so does...

If a parent were to tell their child "you will never amount to anything because ____" (too poor, too stupid, etc...), many would consider that child abuse and a criminal act. Elected officials who do the same are no different.

person by saying "You were born poor & stupid, and you have no chance at success unless WE help you". It is easier for the masses to accept & be controlled with a statement like that, than accepting the fact that they have near limitless opportunities if they can accept the responsibility of choice.

Lastly, to those who enable the notion that it's someone else's fault and remove the lions share of responsibility from the individual is equivalent to casting the chains of slavery upon said individuals and choke out any hopes and aspirations they may have for the future. Damnifying the (cont)

*That it is predetermined*; remove "either".

some people. It is far easier to blame someone else and say "it's their fault for my situation". That is the reason, IMO, many accept their lot. Again, I challenge anyone to provide me an example, barring accident or disability, where ones choices do not determine their current situation.

have no control over your own life. That it is either predetermined, completely and in its entirety, by external forces. While this may be true in other countries, here in the US, it is anything but. Responsibility for your life, your choices, & your actions is a cross too heavy to bear for (cont)

@vegangirl: one can argue that Occam's razor supports the "choice theory" as I have stated. Additionally, Pres Obama's own life story supports it as well as countless others. That is undeniable fact. I do not understand why ppl refuse to see it. To deny the choice theory is to accept that you (cont)

If you think $250,000 annually is wealthy you just decided that you will never attain that income level. You drew the line and said I'll never get there. That is what the Democrats want to do to you. Define wealth for you so if you weren't born with it you get defined as to how far you can go.

Depends on which city you are living in.

@bbelle; what does the degree of wealth matter? Theft is theft. Why should the relative wealthier be stolen from anymore than anyone else?

Yes, but the degree of wealth also depends on the size of family and where they live. $250 k in NY city for a family of 5 doesn't quite compare to the same family living as suburban TX.

Newsflash: under current tax rates, a family of four earning $1mil, the federal income tax is about $310K. Gee, that's 31%. 1% more than Barack called for in his State of the Union address. Makes you wonder why he would call for raising the tax rate to the current amount. Disingenuous? Misleading?

www.bbc.co.uk/news/magazine-17543356

@geobelker; Really? Do you really think that this country was founded in order for you to steal from whomever you think is rich in order to hand it over to those you deem to be worthy? And in that way all is fair? If that concept is even to be taken seriously, we are all doomed!

@geobbelker; You surely can't be serious. That's the exact definition of theft. Surely you're not in favor of theft from those who "can afford" to be stolen from only because it's given to someone you deem to be worthy? Really? Have you actually listened to your comment out loud?

Why do republicans want to tax spending when spending is what stimulates the economy?

Equal and fair are NOT the same. Money should come from who can afford it and go to who needs it.

@justsaying; Amen. Replacing the tax on income with a tax on spending is the ONLY way to go. Recall, the income tax was only instituted by amended the constitution. It should have never happened. The only "fair" tax is a tax that is evenly imposed on ALL citizens evenly!

Wealth should have nothing to do with our tax system.
I'd vote for sales taxes + a flat tax (ever if it costs me more than I'm paying now...fair is fair).

The average American makes 10x than the average person in Africa & Asia.
99% of Americans are "wealthy". It's a relative term.

@IMO - agreed!!!!!!!!!!!!!!!!!!!!!

At $250,000 / year, you're making six times the average American's annual income. That's million dollars gross in four years vs. 24 years! How is that not wealthy?!

Great topic of discussion though, I find it all very intriguing.

@O13 - the main flaw I find in the simple summation theory is that all factors aren't ever equal in reality. People are born with different features, abilities, etc, and then society responds to them. Basically, it seems to be a nature vs. nurture argument. I believe both interact complexly.