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Not that my household income approaches Obama wealthy level, but I think there's a really important distinction in assessing wealth between people who rely on income, even high income, to live and people who have accumulated assets and real wealth and high income.
Sure, gross income of 250,000 is considerably more than average, but depending on where people live, it might really not be associated with a lifestyle most of us equate with "wealthy" or "rich" or actually provide on with the kind of assets that most of us think of as wealth.
I don't want people to continually have to reduce their assets by paying ridiculous amounts of property taxes or some other tax we could invent (capital tax, rather than just capital gains tax? I don't know), but it's funny to pretend that income about 250,000 is the real determiner of wealth when there'd be much better measures to couple it with.
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