Who Counts as 'Rich'?

Who counts as rich? We can see plenty of times about distribution of income in the United States, and how many rich people don’t realize they are rich, at least relative to the rest of the country. However now Americans had curious about who counts rich. Gallup has surveyed Americans to ask what they believe the cutoff for being “rich” should be. The response was that a person would need to make at least $150000 to be considered rich. However the typical American believes anyone in about the top tenth of the income distribution counts as “rich.” On the other hand, president Obama and others have set the cutoff around $250000 when discussing raising taxes on the rich. From response to Gallup’s survey on threshold for being rich varied tremendously by demographics and geography; men cited a higher bar than women did; $150000 VERSUS 410000 respectively. Also children under 18 said they would require $200000 before considering themselves rich, whereas the childless were satisfied with a $100000 benchmark. For clearly, people who live in urban areas such as New York City, where the cost of living is higher or in suburbs had higher standards for being rich than did Americans who live in towns or rural settings.