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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: jttmab who wrote (138933)	7/6/2004 9:20:01 AM
From: Ish	Read Replies (1) \| Respond to of 281500

<<how far would you get with an income of $2,600 per year?>> Those are probably students with part time jobs.

To: jttmab who wrote (138933)	7/6/2004 11:20:31 AM
From: Sun Tzu	Read Replies (1) \| Respond to of 281500

>> I would imagine that the bottom 10% views the top 10% as "wealthy" and I would guess that no one who makes $100,000 AGI views themselves as wealthy. For discussion purposes, I would arbitrarily set "wealthy" as the top 1%. I have a more scientific definition of "wealthy" but I can't remember the source of the study. The study found very few people worldwide consider themselves as wealthy. On the other hand most people consider someone with 3x their income level as wealthy. This being the case, I'd say 3x28,654 (the median) = $85,962 should be considered the "wealth" line. Alternatively, you can assume symetrical distribution to the definitions of "poor" and "wealthy". The poverty line has been mostly around 12% so we can qulify the top 12% as wealthy. Interestingly enough, this method produces numbers very close to the subjective measure of 3xMedian. I know what the problem with that statement is; it puts most of us on this thread in the wealthy category, but the numbers are what they are. Of course, IMO, wealth should be measured in terms of assets owned rather than annual income. ST PS May want to check more info here ssc.wisc.edu