Quote:
Originally Posted by Clip-Clop
Let's say you work in NYC, lots of people do that make over 250K. This family of 4 cannot afford to live in NYC so the move to Westchester, Rockland or NJ and commute. They also pay State (NY, NJ or both if you live in NJ) and NY city taxes on top of the highest federal tax rate. It costs anywhere from $350-$700 (that cannot be written off anymore) per month to take public transport from an outlying area to get to NYC. What are you left with? Middle class on a good day.
Wealthy is a lot more than 250K per year. If you live in Oklahoma, it is probably wealthy.
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and, yet another reason why using a national average can be difficult. in most parts of the country, 250k would be considered well above middle class. where i live, that wage would be in the very top of the top 1% of the state. but then, a few years back, if you made over 60k a year, you were in the top 2% of wage earners in arkansas. obviously nyc is an extreme, which is why i said consider median income...and there are a lot of people trying to get by in nyc with a lot less than the money you referenced.
edit~~ just visited slate to see if there was anything new, and saw this:
http://www.slate.com/blogs/moneybox/..._bay_area.html
at 2k a week, that's 104k per year. so, if that's the average for new york, one could safely assume that is the middle, right? which means 250k is far above that. perhaps upper middle class? or maybe lower upper class! at any rate, far above average.