His income is $455,000 per year. He’s complaining about taxes.
He’s like most working Americans, he says. Once his bills are paid each month, there’s hardly anything left over. How can he be considered rich?
The median household income in the United States today is $50,000. Half of all households make more than this. Half of all households make less. 90% of households make less than $100,000 a year. Less than 1% captures more than $455,000 a year. By any standard, he’s really rich.
He thinks that he ought to be able to pay off student loans, contribute to retirement savings vehicles, build equity, drive new cars, live in a big expensive house, send his children to private school, and still have plenty of cash at the end of the month for the $200 restaurant meals, the $1000 a night resort hotel rooms, and the $75,000 automobiles.
But why does he think that’s the way things should be?