This is depressing

Edward Wolff, a professor of economics at NYUy, thinks that the middle class in a major city includes people in households with incomes from $40,000 to $100,000. From there, up to $200,000, people are "upper middle class." ... People making $200,000 to $350,000, he says, could be considered rich, but they still have to slog to work every day. To be really rich, in Wolff's scholarly judgment, you need not only an income upwards of $350,000 a year -- which happens to be right about the point where today's top marginal income tax rate of 35% kicks in -- you also need at least $10 million in accumulated wealth.

I thought having a million bucks makes someone rich. Now its 10 million. Plus an income of 350,000 a year.

At least Obama is polite enough to consider US$ 97,000 a year as "upper class."

So I'll take Obama's definition as my goal, thank you.