(Closed) Do you think 250k/year is middle class?

posted 5 years ago in Finances
  • poll: Do you think 250k/year is a good place to draw the line for higher taxes?

    Yes, that's a good place to draw the line

    No, the line should be lower

    No, the line should be higher

    Not sure.

  • Post # 2
    Member
    9520 posts
    Buzzing Beekeeper

    It completely depends on the living cost of where you live. 

    Post # 3
    Member
    227 posts
    Helper bee

    I think it depends on where you live. Where I live, that’s definitely pretty well off. However, if you live in a big metro area like DC, NYC, etc, it’s closer to middle class I’d say. 

    Post # 4
    Member
    1831 posts
    Buzzing bee
    • Wedding: November 2013

    Agree it depends where you live. We’re close to that number but we live in NJ where everything is expensive and have a ton of student loans. Definitely not struggling but not even close to rich.

    Post # 5
    Member
    6107 posts
    Bee Keeper
    • Wedding: October 2013

    To me that would be considered Upper Middle Class in most places. I wouldn’t consider that “rich”.

    Post # 6
    Member
    9524 posts
    Buzzing Beekeeper
    • Wedding: October 2013

    is that combined or one person’s income?  as PP said, it really depends on where you live.

    but based on where i live, i would find that to be upper middle class for a 2 adult combined income.

    Post # 7
    Member
    9124 posts
    Buzzing Beekeeper
    • Wedding: August 2013 - Rocky Mountains USA

    yeah exactly – it entirely depends on the cost of living.  Here, that’d be “rich” or very upper middle class….. NYC or the Bay Area or many other places, you could get by comfortably but without much to spare on that.

    Post # 8
    Member
    11385 posts
    Sugar Beekeeper
    • Wedding: June 2015

    It’s a good average since federal policies dont take into account the cost of living, etc. in LA, that’s not really even close to rich. it’s hardcore middle class, and not upper middle class either.

    In other parts of the country, I guess they would feel rich. but the really rich make a lot more than that, and those are the people who don’t pay the amount of taxes they are supposed to due to loopholes.

    I’d like to see that number higher, to impact the people who statistically tend funnel money off shore and have expensive tax lawyers and tax structures set up to avoid paying the stated tax rates. 

    Post # 9
    Member
    5082 posts
    Bee Keeper
    • Wedding: December 2014

    To me, that’s pretty rich. Like PPs said though, in a big city, that’s probably middle class.

    Post # 10
    Member
    1309 posts
    Bumble bee
    • Wedding: April 2015

    For one person’s income, that seems like a good cutoff for raising taxes.

    Post # 11
    Member
    1323 posts
    Bumble bee
    • Wedding: October 2015

    i’d say upper middle class 

    Post # 12
    Member
    6923 posts
    Busy Beekeeper

    Man, for me that’s upper class for sure.  In our area I think most people are lucky to be just above the poverty line, though my husband and I don’t have that problem, coming from elsewhere.  Between us we don’t make half that cut-off per year and I consider us soundly middle class.  To me, middle class means you can take luxuries if you want to and you aren’t struggling to survive.  I’d be over the moon to earn that cut-off point and wouldn’t know what to do with it all.  Once you have more than you know what to do with, you’re rich, IMO.

    But granted that’s a very, very opinionated and personally skewed distinction.  Probably why it’s so hard for anyone to determine where to make a cutoff point.

    Post # 13
    Member
    3728 posts
    Sugar bee
    • Wedding: City, State

    View original reply
    pinkshoes:  It depends on the area. In my area (DC suburbs) we are definitely middle class at $225k. I think $25k wouldn’t do much, but might allow us to live in a single family house.

    Post # 14
    Member
    5072 posts
    Bee Keeper
    • Wedding: October 2012

    Depends on where you live.  Where I live it’s definitely upper middle class bordering on “I’m rich b*tch!!”.  I think the median income is roughly $55,000 here.

     

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