How many people are rich

[Alex]

Originally Posted by scaeagles

I don't think you can define rich by level of income.....I think it has more to do with assets vs. liabilities.

True. But on the other hand if you are making $250,000 a year and have yourself so in debt that you're barely getting by you may no longer be effectively rich but I also don't want to hear the whining about how it really isn't that much money and "woe is I" and all that crap.

[scaeagles]

Originally Posted by Alex

True. But on the other hand if you are making $250,000 a year and have yourself so in debt that you're barely getting by you may no longer be effectively rich but I also don't want to hear the whining about how it really isn't that much money and "woe is I" and all that crap.

Of course. I don't have sympathy, but I don't really regard such a person as rich.

However, I think Trump has said something like he has huge influence with banks because of how much he owes them. I think if you take the amount of debt to huge extremes the pendulum swings back toward rich....or at least living like it.