A guy asked if $400k a year makes you rich, sparking off a great debate on wealth in America

President Biden has drawn a pretty clear-cut line at the amount of money he believes makes someone rich. In numerous speeches, he's said that those making $400,000 or more should pay a higher tax rate because "they can afford to pay a little more."

Biden has proposed a tax increase on high-income earners to help pay for the social spending the country has done to offset economic problems caused by the pandemic.

In a joint interview with Vice President Harris, Biden said, "I will raise taxes for anybody making over $400,000," and anyone making less than that would face "no new taxes."


A breakdown by CNBC found that for the most part, Biden has been honest about his plan, and the only people who make less than $400,000 a year who would see a hike in their taxes are those who had a windfall event that put them over the threshold.

It's worth noting that Biden's idea of who is wealthy is a bit different than the man he served under as vice president. When Barack Obama was president he sought to raise taxes on the wealthy who he saw as those making $250,000 or more.


On the surface level, $400,00 does seem like a lot of money in comparison to the average American. Those making $400,000 and above represent the top 1.8% of taxpayers, earning about 25% of the nation's income.

Some people make the point that $400,000 isn't that much money for someone who lives in an expensive area such as Manhattan or San Francisco. However, the average household income in Manhattan is $138,000 so you're doing pretty well if you're making $400,000 or more.

That is assuming that you're not wasting your money living extravagantly.

Twitter user Chief Resistance Officer asked his 30,000-plus Twitter followers if making $400,000 a year is considered "rich" and he got some thoughtful responses. The overwhelming opinion seems to be that if you make that much you are probably rich. If you're making $400,000 or more and living paycheck-to-paycheck, you're probably being irresponsible with your money.

Yes, $400k is rich.



If you don't think making $400k a year makes you rich, you're probably woefully out of touch.



It's pretty easy to blow $400k a year if you live extravagantly in a big city.




On $400k a year, you're probably rich, but not wealthy.



Some say that it matters where you live.




It's all about how you manage your money.



WARNING TRUTH BOMBS AHEAD.



So what did we learn? The original poster says that $400K makes you "rich" but not "wealthy."



in the end, it's not what you make, but what you keep. There are a lot of people who can't make ends meet making six figures and others who can do a lot with very little. It seems that the difference between both people is a sense of gratitude. Those who are grateful for what they have seemed to take better care of their money because they appreciate it. Whereas those who don't appreciate what they have feel compelled to spend and spend until they think they'll reach some mythical point of material happiness.

So, in the end, to be grateful is to be rich.

Oh yes, and be sure to tax the wealthy, whoever they may be.


True

When a pet is admitted to a shelter it can be a traumatizing experience. Many are afraid of their new surroundings and are far from comfortable showing off their unique personalities. The problem is that's when many of them have their photos taken to appear in online searches.

Chewy, the pet retailer who has dedicated themselves to supporting shelters and rescues throughout the country, recognized the important work of a couple in Tampa, FL who have been taking professional photos of shelter pets to help get them adopted.

"If it's a photo of a scared animal, most people, subconsciously or even consciously, are going to skip over it," pet photographer Adam Goldberg says. "They can't visualize that dog in their home."

Adam realized the importance of quality shelter photos while working as a social media specialist for the Humane Society of Broward County in Fort Lauderdale, Florida.

"The photos were taken top-down so you couldn't see the size of the pet, and the flash would create these red eyes," he recalls. "Sometimes [volunteers] would shoot the photos through the chain-link fences."

That's why Adam and his wife, Mary, have spent much of their free time over the past five years photographing over 1,200 shelter animals to show off their unique personalities to potential adoptive families. The Goldbergs' wonderful work was recently profiled by Chewy in the video above entitled, "A Day in the Life of a Shelter Pet Photographer."

This article originally appeared on 04.13.18


Teens have a knack for coming up with clever ways to rage against the system.

When I was in high school, the most notorious urban legend whispered about in hallways and at parties went like this: A teacher told his class that they were allowed to put "anything" on a notecard to assist them during a science test. Supposedly, one of his students arrived on test day with a grown adult at his side โ€” a college chemistry major, who proceeded to stand on the notecard and give him answers. The teacher was apparently so impressed by the student's cunning that he gave him a high score, then canceled class for the rest of the week because he was in such a good mood.

Of course, I didn't know anyone who'd ever actually try such a thing. Why ruin a good story with reality โ€” that pulling this kind of trick would probably earn you detention?

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