As you've probably heard, congressional Republicans and Barack Obama reached a deal to extend the Bush tax cuts for another two years for all Americans. This has angered many on the left, who wanted President Obama to let the tax cuts for American households making more than $250,000 a year expire, while maintaining the tax cuts for everyone else. Or, as they like to put it, "End the tax cuts for the wealthiest Americans."
This got us thinking: How much money does it really take to make one wealthy?
For the purpose of this exercise, the annual salaries discussed below apply to a married couple, with the American average of 2.2 children.
Read on to see a breakdown of what being in each salary group can and can't get you, and how many American households actually make that much money.
| One hundred thousand dollars | |
|---|---|
| Two hundred fifty thousand dollars | |
| Five hundred thousand dollars | |
| One million dollars |
$100,000:
What it gets you: a rather comfortable lifestyle in a boring city like Canton, Ohio, or Fort Worth, Texas
What it doesn't get you: a particularly comfortable lifestyle in a more exciting city like New York or Los Angeles
Percentage of households that make this much money: about 16 percent
$250,000:
What it gets you: as close to an official designation as "wealthy" as our government is going to give you
What it doesn't get you: the ability to easily pay for two children to simultaneously attend top-tier private universities
Percentage of households that make this much money: about 2 percent
$500,000:
What it gets you: just about the exact average annual salary of an income tax filer in the 90067 zip code of Beverly Hills, Calif.
What it doesn't get you: a Maybach 57, even if you made the extraordinarily poor decision to spend your entire after-tax yearly income on the $360,000 car
Percentage of households that make this much money: about 0.5 percent
$1,000,000:
What it gets you: You can tell Regis you already are a millionaire, dammit.
What it doesn't get you: the kind of F.U. money you probably thought it would when you set out to make a million dollars a year
Percentage of households that make this much money: about 0.2 percent


























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