Anonymous
Anonymous asked in Politics & GovernmentOther - Politics & Government · 2 months ago

At what point are you labeled poor or being rich by now and how by in USA?

4 Answers

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  • Foofa
    Lv 7
    1 month ago

    The federal poverty level for a household of four is an annual income of $25,750. But living costs vary so much between states and cities that in San Francisco one qualifies for subsidized housing if their income is under 109K. So "rich" is relative. What would be a decent income in some places would make one a pauper in others.

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  • 2 months ago

    There are definitions of "poor" set by the IRS. But "rich"  is far more subjective. Beyond providing for the basic necessities. like housing, food, clothing and transportation, there's not a lot of difference. A Honda and a Porsche get you where you want to go in about the same time. I feel rich because I have more time to travel than most rich people- and a really good family. 

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  • Anonymous
    2 months ago

    It depends on where you are in America. It varies greatly. If you're homeless, you're definitely poor though and if you have a billion in current assets you're definitely rich. 

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  • 2 months ago

    I dunno. The democrats definition of wealthy changes like the weather.

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