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Monday, August 18, 2008

McCain says you're "rich" when you make $5m a year

Weird. Though Obama said it's when you make $250,000 a year. I'd posit another definition. Look at people's personal wealth - income from all sources, money saved for retirement, value of their home and other assets, debts, cost of living where they live - then decide if they're rich. It's simply phony to compare someone who lives in NY or DC to someone who lives in Topeka, and only look at their salaries. It's even phonier to look at someone who put themselves through 8 or more years of university and is paying that debt off for 15 years, and not count their debt against their richesse. It's just as phony to not count someone's $1 million dollar house when determining if they're rich. Democrats need a new way of defining wealth because it's getting old being told you're rich when you live in an expensive urban area, you're worrying about how much money is coming in each month, and you rent a studio, pay your own retirement without an employer kicking in, pay for your own health care, and are trying to save to buy your first place. Democrats often ignore the "rich middle class" and they need to stop it.

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