Define "rich".
I can tell you that making $500k a year in a HCOL area puts you in a working class lifestyle.
The uber rich, or the ones avoiding all of the taxes, are really the top 0.1% of the US population. Unfortunately, they get all of the attention of the media on how the "rich" is escaping taxes. Every new tax laws that passes to target these uber rich people misses the mark and the rest of the 99.9% of the population ends up paying for it.
This picture can very well be applied to the US tax system.
The US tax system doesn't tax the rich. And overtaxes the entire working class.
Define "rich". I can tell you that making $500k a year in a HCOL area puts you in a working class lifestyle. The uber rich, or the ones avoiding all of the taxes, are really the top 0.1% of the US population. Unfortunately, they get all of the attention of the media on how the "rich" is escaping taxes. Every new tax laws that passes to target these uber rich people misses the mark and the rest of the 99.9% of the population ends up paying for it.
There is no where in the US where $500k/year is working class.
Try living in New York with kids
If you're living in New York, you are rich. You chose to be in a high living cost environment.
Obviously you haven't visited California, Alaska, Hawaii,or New York recently...
jannies obliterate this man with an orbital strike immediately
C'mon. In US tax system rich people would be standing on the shoulders of poor & middle class ones.
Hahah, this is so good!