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Old 08-28-2012, 09:45 AM   #1
BuckeyeZ06
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Default What salary makes you rich? Americans set a low bar

Interesting...

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What salary makes you rich? Americans set a low bar
Put number at $150K -- for a family of four, no less

Americans admire the rich. They just don't like them very much.

A Pew Research Center survey shows an overwhelming majority of people have high regard for those they consider wealthy, with almost half saying they're smarter and harder workers. At the same time, a majority says the wealthy are greedy and pay too little in taxes. One-third say they're dishonest.

More than six in 10 Americans say the Republican Party, which is holding its national convention this week, favors the wealthy, according to the poll released today.

The findings underscore the complicated feelings Americans have about wealth, as well as a troubling political issue for Republican presidential candidate Mitt Romney, who has an estimated wealth of as much as $250 million. More than 70 percent of Americans say Romney's policies would help the wealthy more than anyone else.

“There's some good news in here” for Romney, Kim Parker, the study's author and a senior researcher with the Washington- based Pew Social & Demographic Trends Project, said in a telephone interview. “Americans do admire wealthy people who worked hard. But a potential problem is that people said his policies would benefit wealthy people more than the middle-class or lower-income people.”

Republicans and Democrats have different views of the rich, said Jacob S. Hacker, director of the Institution for Social and Policy Studies at Yale University. “There's a pretty stark partisan divide,” he said.

Wealthy Undertaxed

Americans say a $150,000 annual salary would be enough to make a four-person family rich, the poll found. People surveyed in the Northeast and suburban communities put the amount at $200,000, while those questioned in rural areas say a family making more than $125,000 could be considered wealthy. Nationwide, the median household income is $51,914.

Fifty-eight percent of people surveyed by Pew say the wealthy don't pay enough taxes, including 52 percent of households that identify themselves as upper or upper-middle class. The poll of 2,508 adults, conducted July 16-26, has a 2.8 percent margin of error.

President Barack Obama favors increasing tax rates on households making more than $250,000 a year. The Republican- controlled House of Representatives opposes the boost. Republican leaders are threatening to block any deal that would increase taxes, as well as to delay across-the-board federal spending cuts and decrease the amount of time that laid-off workers could collect unemployment insurance.

Greedy Rich

Fifty-five percent of people polled by Pew say rich people are more likely to be greedy, including 65 percent of Democrats and 42 percent of Republicans. Thirty-four percent say wealthy people are less honest, with only 18 percent of Republicans and 8 percent of Democrats considering the rich to be more honest than other people.

Hacker, co-author of “Winner-Take-All Politics: How Washington Made the Rich Richer and Turned Its Back on the Middle Class,” said the 2012 presidential contest has the potential to be the most economically centered since the Great Depression.

“This election is much more focused on the gap between the rich and the rest than any I've been alive for,” he said. “We've got a perfect storm of factors leading to a discussion about the middle class and taxes, especially.”

Hard Work Admired

Even so, Pew said Americans generally admire wealthy people who made money through hard work. Ninety-two percent of people who described themselves as middle-class and 84 percent of lower-income people say they admire rich people, pollsters said.

Almost half of all Republicans say wealthy people are smarter than other Americans. Only 38 percent of Democrats say the rich are smarter than middle- or lower-income people. Half of survey respondents say there isn't a relationship between income and intelligence.

Opinions also split along partisan lines when it comes to the amount of work required to make a lot of money. Fifty-five percent of Republican-leaning respondents say rich people worked harder than others, while 33 percent of Democrats agree.

Wealthy people say they're much more satisfied with life than do lower- or middle-income households.

The survey reports that 62 percent of rich people say they've become more financially secure during the past decade. Only 44 percent of middle-class families and 29 percent of poor people agree.

Stress Free

More than 40 percent of higher-income people say they're happy with their jobs and their lives, compared with about 30 percent of middle-income families and 20 percent of poor households. One-third of the wealthy say they never or seldom experience stress. Only 23 percent of middle-class people and 13 percent of poor families report a lack of stress.

“The rich just seem to be experiencing life in a different way from the middle class and lower-income people,” Parker says. “It's striking, particularly in these times. They just seem immune from a lot of things.”

--Bloomberg News--
http://www.investmentnews.com/articl...&utm_term=text
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Old 08-28-2012, 09:52 AM   #2
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I can tell you most assuredly that even a childless couple who makes over $200k/year are not rich. Comfortable perhaps, but certainly not rich. Rich intones, to me, a person who has several million dollars in liquid assets and who GAF what his income is? Income itself means very little to the rich equation. That's not really how one gets to be rich, that is, from a paycheck.
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Old 08-28-2012, 09:54 AM   #3
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“The rich just seem to be experiencing life in a different way from the middle class and lower-income people,” Parker says. “It's striking, particularly in these times. They just seem immune from a lot of things.”

ORLY?
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Old 08-28-2012, 09:56 AM   #4
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Only 38 percent of Democrats say the rich are smarter than middle- or lower-income people. Half of survey respondents say there isn't a relationship between income and intelligence.
This doesn't surprise me at all. Most Democrats are utterly clueless and therefore don't realize how stupid they really are.
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Old 08-28-2012, 09:57 AM   #5
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ORLY?
They aren't really human you see. And once that distinction is made, it's easy to hate them.

Really, among all the characteristics I loath in people, jealousy has to be about the most despicable. It really brings out the ugly in people.
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Old 08-28-2012, 10:00 AM   #6
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It's not how they feel about the "rich," it's how they have been programmed to feel about what they perceive of how someone got "rich."

Ask the same people how they feel about "rich" actors, musicians, athletes, liberal politicians, and abortion doctors and see how those answers match up with the answers they gave without the qualifiers.
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Old 08-28-2012, 10:04 AM   #7
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"The Pew survey involved telephone interviews with 2,508 adults conducted from July 16 to 26. It has a margin of error of 2.8 percentage points."

Click the image to open in full size.

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http://www.pewsocialtrends.org/2012/...are-different/
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Old 08-28-2012, 10:17 AM   #8
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It depends entirely on who you ask. A welfare mom would likely call 50K rich.
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Old 08-28-2012, 10:20 AM   #9
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It depends entirely on who you ask. A welfare mom would likely call 50K rich.
Look at the last chart in my post above.
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Old 08-28-2012, 10:31 AM   #10
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Polls are showing the ignorance of many.

The lower income group still thinks they pay too much in tax!

0% is still too high!

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Old 08-28-2012, 10:38 AM   #11
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pure childish jealousy. it all stems from that.
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Old 08-28-2012, 10:44 AM   #12
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To me, someone is rich if they have sufficient assets to be able to live indefinitely at a very high level without needing any additional income. That probably means at least $5MM in income-producing assets.

But the viewpoint of the masses is quite different, obviously. One of my staffers was amazed to hear that my wife and I don't sit down to a quiet dinner served on china plates with a bottle of wine every night. When I told her that my usual dinner is a protein shake and some fruit following a workout, her vision of how a "rich" person like me lives was shattered.
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Old 08-28-2012, 11:45 AM   #13
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I'm rich and didn't know it.
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Old 08-28-2012, 11:47 AM   #14
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The US population is about 300 million. Approximately 20 million are thought to be illegal immigrants. And for the 20 million illegals, there are probably a larger number of legal immigrants. Most immigrants enter the country with poor/no English language skils, certainly the illegals are uneducated and unskilled. Of the population of legals their ability to get medium/high paying jobs is usuallly limited. These numbers alone are sufficient to skew the statistics and thereby demonstrate a widening gulf between the wealthy and poor. For example, 40 million immigrants in a population of 300 million would cause a 13% jump in the gap between poor and wealthy.
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Old 08-28-2012, 12:11 PM   #15
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Charts and graphs are a falacy at this point in time as long as Pimp-daddy is in office.
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Old 08-28-2012, 12:15 PM   #16
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Originally Posted by Cybercowboy View Post
I can tell you most assuredly that even a childless couple who makes over $200k/year are not rich. Comfortable perhaps, but certainly not rich. Rich intones, to me, a person who has several million dollars in liquid assets and who GAF what his income is? Income itself means very little to the rich equation. That's not really how one gets to be rich, that is, from a paycheck.
Depends on location and life style doesn't it?

If I made $200K let alone $150K I'd be ecstatic. Where I live, houses are realistically priced and I'm not being taxed to oblivion. Most of the a fore mentioned income I'd roll into investments and still have play/vacation money.

Now...someone else, say California, $200K ain't all that. Especially if they blow every nickel on going out to eat and toys.
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Old 08-28-2012, 12:20 PM   #17
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Americans are idiots. Income does not make you rich. Net worth is how you measure if you are wealthy. This is a typical libtard, tax-hiking method of deciding who the evil rich are.
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Old 08-28-2012, 12:28 PM   #18
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Originally Posted by Cybercowboy View Post
This doesn't surprise me at all. Most Democrats are utterly clueless and therefore don't realize how stupid they really are.


Liberals suffer from CSGD


Common Sense Gene Deficiency
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Old 08-28-2012, 12:30 PM   #19
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It's just pandering to the mob...
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Old 08-28-2012, 12:35 PM   #20
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$150k in So Cal means you are going backwards.
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Old 08-28-2012, 12:35 PM
 
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