Wealth-Less Effect: Earning Well, Feeling Otherwise

Wall Street Journal by Gary Fields | Apr. 17, 2009 (News Analysis)

It is a tricky situation in which some Americans find themselves after a long boom: They are by no means struggling, compared with the 98% of Americans who make far less, but depending on where they live and the lifestyle choices they have made, they don't necessarily feel rich, either. Worse, in their view, they are facing the same tax rates as those making millions. Some of the expenses are self-inflicted -- like private-school costs and conspicuous ... Full Story »

Posted by Derek Hawkins

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Subjects: U.S., Politics, Business, Living
Topics: Obama Administration, Taxes, Money
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Posted by: Posted by Derek Hawkins - Apr 16, 2009 - 11:58 PM PDT
Reviewed by: Derek Hawkins (review), Kaizar Campwala (review), Fabrice Florin (review)
Content Type: Article
Edit Lock: This story can be edited
Edited by: Derek Hawkins - Apr 16, 2009 - 11:58 PM PDT
Related Comments: Obama Administration (3)

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Derek Hawkins
2.5
 by Derek Hawkins - Apr. 17, 2009

Not a compelling story. Implied here is the notion that taxing the rich may hurt the almost-rich. Much of the data provided seems contradictory and the anecdotes aren't enough to build a real trend on. See the Atlantic's critique in links.

Derek posted this story.
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Fabrice Florin
3.5
 by Fabrice Florin - Apr. 17, 2009
See Full Review » (2 answers)
Kaizar Campwala
2.2
 by Kaizar Campwala - Apr. 17, 2009

Unless I'm totally off-base, it's my understanding that you're taxed in a bracket for only the income you make about that bracket. If I'm correct, this article is horribly problematic.

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  • Should We Pity Rich People As Much As They Do?

    Atlantic Monthly by Derek Thompson | Apr. 16, 2009 (Opinion)
    A bizarre piece in the WSJ today gives us a chance to review a couple key questions about taxes and the wealthy, including: Are $250K-earners middle class? Did rich people ...
    Posted by Derek Hawkins
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