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Thursday, September 30, 2010

In Tax Cut Plan, Debate Over the Definition of Rich - NYTimes.com

In Tax Cut Plan, Debate Over the Definition of Rich - NYTimes.com: "The dispute over what income level qualifies as rich is caused, in part, by the tendency of people to gauge their own wealth by comparing themselves to those closest to them. A study released this month by two Princeton University professors found that in most of the country, people feel comfortably middle class if they earn $70,000. But in New York City, the figure was $165,000. The median income in New York City is $55,980, according to the Census Bureau."

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