Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 3, 2009
- Messages
- 9,343
Yup, I had a friend like that. Probably made about double what I make. Always complaining about "the rich". When I told him that most people would probably classify him as a member of "the rich", he didn't want to hear it. He then switched to demonizing the "1%". And didn't like it when I told him he was probably in the "10%" (income-wise, but not net-worth-wise). He still kept whining about how those "other" rich need to pay more. Nevermind the fact that there aren't enough of those "other" rich to go around, to solve all of this country's ills.
One other thing that might distort my friend's attitudes though, is living in Washington DC. Rowhouses that haven't been condo-ized yet are often going for $1M or more. And even the ones that have been broken up are turned into condos ranging from $400K-700K, depending on the size. So while a $150k salary (I think that's about what he made) could put you well into the top 10%, nationally, in DC you're going to be concentrated with a lot of other high income individuals, so suddenly it doesn't seem like much. DC has gotten to the point I don't think I could even afford to live in a bad neighborhood!
Rich is a pliable word I think based on my experiences. My working friends have twice the income I have but since I have saved more they think I am "rich". I have twice the income my father has but I think he is rich because his investible assets dwarf mine. He thinks he is poor because he is determined to live off his SS and tiny pension and will not crack his investment nut even though he is almost 80.
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