At what point are you labeled poor or being rich by now and how by in USA?
- FoofaLv 71 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.
- GypsyfishLv 72 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.
- Anonymous2 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.
- NRA4EVERLv 52 months ago
I dunno. The democrats definition of wealthy changes like the weather.