As frustrating as it is to hear about people bringing in $250k/yr who are sooooo not rich at all (in their own minds), what frustrates me more is how much this lets off the hook people (families) bringing in only, say, $120k/yr. My largest personal frustration with people in these categories are how they consider certain, de facto luxury spending as a necessity.
A family spending $1000/mo on eating out is clearly enjoying a luxury of sorts. A family that drops $10 grand on a vacation without batting an eye is also clearly got some wealth. What is less clearly wealth is savings and excess debt reduction.
A family that puts 10-20% of its income toward savings/investment for retirement or education* is enjoying a luxury that many cannot afford. A family that puts their children into private schools is enjoying a luxury. A family that pays an extra $10-20k toward debt reduction (over and above minimum payments) is enjoying a luxury. Now, it may not really feel like it, but it is.
Have a look at median family incomes/expenses here. People earning double that are doing very, very well. They can pay a little more in taxes too. (So can I for that mater.)
*Yes, it is true that we have a very fucked up educational system in this country that costs way too much, but that is a different problem.
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