Thomas Sowell on Who Is Rich

http://www.futureofcapitalism.com/2010/08/thomas-sowell-on-who-is-rich

Thomas Sowell has a new column taking issue with President Obama's definition of "rich":

A couple making $125,000 a year each are not rich, even though together they reach that magic $250,000 income level. In most cases, they haven't been making $125,000 a year all their working lives. Far more often, they have reached this level after decades of working their way up from lower incomes-- and now the government steps in to grab the reward they have earned over the years.

by Editor  |  Aug 18, 2010 at 9:02 am Related Topics:  Definition of 'Rich' receive the latest by email: subscribe to the free futureofcapitalism.com mailing list