Quote:
Originally Posted by AGDee
When I read that Medicaid and SCHIP will be extended to cover more families, I interpret it as "Those who cannot afford to pay for other insurance will be eligible for Medicaid or SCHIP"
ETA: Regarding income. According to this site: http://en.wikipedia.org/wiki/Househo..._United_States (yeah, I know, it's Wikipedia, but it's source is 2005 Census data) the number of households in the USA that make $250,000 or more is 1.5% 15% make more than $100K a year. It's pretty hard to argue that if you're in the top 1.5% of earners, you're not considered wealthy. I realize there are the Bill Gates' of the world who are unbelievably filthy stinking rich, but that's a major outlier when figuring out these statistics.
ETA Again: Just saw that clip that preciousjeni linked to above on CNN and yes, I am very glad that McCain told the truth there. He definitely did the right thing there. |
Well, except that wealth may be different than having a high earned income for a short number of years.
I like to think that if we earned 250,000 or more, my husband and I would accumulate real wealth, but I think it would take a while. (First get out of debt. . .)
I think the issue is that, especially in household with two earners, if you are in the first generation of people to earn at that level in your family, you just have high income compared with other earners.
Compare your idea of two professionals earning 125,000+ who didn't inherit any wealth or assets with a person who owns a million dollar home with no mortgage who lives on a retirement income of 100,000 dollars a year.
Who is richer? (For that matter, who is richer: John McCain married to Cindy or the Obama's pre-book deal? Looking at income only tells one story.)
Any tax based on income ignores this difference in accumulated wealth.
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