What is “Rich”?
In this article from Fortune.com, the author argues that people making between $250,000 and $500,000 are not “rich.” He calls these people HENRYS (High Earners Not Rich Yet). What do you consider “rich?” $100,000? $500,000? $1 million?
Obama and the congressional Democrats frequently refer to households earning over $250,000 as the “rich” and the “wealthiest Americans.” But whether the HENRYs are truly “rich,” or ever will be, is debatable. In Fortune’s interviews with two dozen HENRYs from Charlotte to Concord, Calif., what emerged was a portrait of families a world away from the private jets, luxury vacation homes, and heated garages with Bentleys and Porsches lined up headlight to headlight that typically represent America’s vision of “rich.”
