Arguments over income taxes tend to get bogged down in arguments about who is really “rich.” And what you hear then is that rich in Ohio and rich in New York City are different. But how different?
According to the Census Bureau, only 6.3 percent of New York City’s households pulled in more than $200,000. So if you’re a household making $250,000 or more, you’re easily in the top 5 percent — even in New York City.
Take that Republican demagoguery!
One of the central republican retorts any time discussion of taxing the rich is brought up is that someone who is “rich” somewhere “normal ” like Kansas City wouldn’t be considered “rich” in a more expensive place like New York. But as the data above shows that someone in New York city that makes $250,000 or more still makes a lot more than most people in their geographic area. Sure they might not be able to live the glamorous “New York” life style but they still earn more than enough to take care of themselves.
Of course, this data only shows the upper class as defined by New York city, but considering that NYC is regularly quoted as the city with one of the highest, if not the highest living expenses it should be a suitable representation of expensive towns.