Are you rich? If you lived here, you would be

Hasbro

Most Americans would call themselves "rich" if they had an annual income of $150,000, according to a new Gallup survey. But is that really rich? Here's a look at how those earnings stack up against your fellow Americans and how far it would get you in different parts of the nation.

For one thing, making that much would put most of the 99 percent right in the 90th percentile when it comes to earnings, according to the Tax Policy Center. (The top 1 percent everyone talks about starts at $506,553 per year.) That's out of all taxpayers. Where it places you on the income scale really depends on how many people are in your family and who is doing the earning.

-- If it's just you making $150,000 then welcome to the 98th!
-- If you're married and that's your combined income, you're only in the 82nd percentile.
-- Even if you're both making $150,000 a year, you're still only in the 95th.
--Good news if you're the head of a household and the sole provider - you're in the 99th percent.The bad news is that tells you how hard it is to be the sole provider for a household.

Although $150,000 is three times the median household income in the U.S., that leaves out one key factor: Location, Location, Location.

If you make that much and live around Mission, Texas -- where the median income and cost of living are among the lowest of any U.S. metropolitan area -- you're going to feel a lot richer than if you live in Manhattan, where the median income and cost of living are among the nation's highest. 

So let's say you live in Morgantown, W. Va., where the cost of living is just 0.6 percent more than the national average, according to the U.S. Census. The median income is $22,000, the median home price is about $165,000 and the median monthly rent is $575 a month. If you're what most of us call rich, then you're doing all right.

Here's how much you'd have to earn to maintain that standard of living in a few other areas, according to BankRate.com:

Amarillo, TX: $133,519

Boston: $197,587

Buffalo, N.Y. $142,835

Chicago: $174,287

Honolulu: $247,101

Juneau, AK: $203,597

Manhattan: $322,938

Omaha, NE: $131,709

Phoenix: $150,191

Pryor Creek, OK: $126,041

San Jose, CA: $232,895

Washington, DC: $208,833

[tardalova]

The trick is to work in San Diego and live in Tijuana. You could save a fortune.

[Transatlantique]

I would be able to save 1 million dollars in a eight years or sooner with that kind of income, if that is after taxes. This world is just too difficult with those standards, and its no wonder why we have so many homeless and poor with those kinds of numbers.

[Keypinitreel1]

I see complaints about the top 1% being the tax paying majority...

I see it like this... If you have reaped a majority of the nations profit... you should pay a majority of the nations taxes.

The crime in America is not necessarily the low wages and robbing of entry level workers and low skilled workers, the crime is the robbing of wages from what should be considered middle class workers. Stagnant wages and paycuts are whats killing demand, which in turn suppresses the job market.. cut 5K from this manager, 5K from that one... give myself a 10k raise.. then blow a few grand here and there on drugs and prostitutes because thats my right, all while telling those people ( middle class) whose jobs I reduced and wages I cut... to quit crying.

[weleaveiraq]

So you are telling me that I paid in on Social Security for my entire life, dollar to every dollar that this system ask (Took from me) too pay, too be paid back as Berger's to a system that Congress has Raped for funds to cover the costs of Cows Farting at TT, Lubbock Texas, or Blueberry Resource, Washington State, even the Horn Beetle, 120-MILLION DOLLARS PER YEAR, for 12-15 years, and still getting paid!!!!
I get hit in a War Zone, first in Kosovo, then in IRAQ, Totally Disable, AIG stills collects on not one, not two but now three policies, And Social Security pays me $1202 per month!!
AIG gets $7500 to $40,000+ per Claim, or $20,000 to $120.000 every year for over 10 years now!
Ask me for a Trade with AIG from SS payments.
Your best bet in stocks is AIG, AIG, AIG, AIG, AIG, AIG, AIG, AIG, AIG, AIG, AIG, AIG and then if you want to make BIG MONEY, AIG BONUSES< AIG BONUSES, AIG you slay devel you

[venusvegasvada]

I'd say by looking at this income level, in 2011, your in the muddy waters area. These people are not influencing policy. The real >1%, the CEO's that make 9 million a year in just wages and compensation, and the others that have millions or billions, those are the people that pull strings, pay lobbyists and push political agendas. They are the ones that you should be looking at.

All the while the value of the dollar plummets, thanks to broken Fed policies designed to help the rich and the corps and take the low road out of problems. Our money has lost half it's value over just the last 20 years. Just some examples, Back in 1990 a new Mercedes 300E was close to 50,000. Today, it's about the same, but that's because of manufacturing and design changes, not because it's worth the same amount of money. The old ones were literally built like tanks and are still running around, doing fine (because they were 20 years ahead of their time).

I'd mention real estate prices as an example, but thanks to the Govt.'s failed policies (again) by removing the Glass-Steagall Act, we all know how great real estate values are today.

The Govt. just changed the patent law to grossly favor large corporations, throwing the little guy under the bus back in September. Thanks Corp. lobbyists.

Moving on, peoples incomes are pretty much flat-lined. So average people (that still have a living wage job) are basically making HALF today of what they made 20 years ago. Considering that a lot of American cities have banned people from having a business in their own garage/home, you can kiss future start-up companies like
Apple and Hewlett-Packard and Harley-Davidson goodbye. Start-ups don't exist anymore because it's illegal to do what Steve Jobs did. That's why there are so many empty industrial parks everywhere. So the poor and the middle class CAN'T bootstrap themselves up anymore. Way to go Govt at the Federal, State and City level, your doing a fine job of nailing our coffins shut and preserving the wealth of the 1%

[addict42]

The whole idea of being able to afford to keep a roof over you and your families head, pay ulities, food and transportation and save for retirement and all the rest is gravy. So even if you make $45,000 a year just put $100 away a month for the future and live a modest life (no spouse or family)and you'll be fine.

[markag55]

It all depends on where you live. In Manhattan, Boston, Washington, San Francisco, Los Angeles, or other expensive cities, you cannot live on $45,000 a year as a single person, let alone a family.

[Dianna-Rene]

I am 1% I agree with the 99%, --- what of it? If you make 134k in Amarillo and it would cost you 198k to hold the same standard of living in Boston, then I guess you should either stay where you are, or take a bath get a second job and stop complaining about it yes? I mean that's what I heard Mr. Gingrich say to people compaining that they can't make ends meet. Makes you mad when someone says it to 'you' doesn't it?

[RunsWithWolves]

I wonder if the 53% who pay taxes wouls like to trade places with the 47% who don't................no takers?.......I didn't think so. End of discussion.

[Jaylah54]

Well said!

[janareader]

Oh the 47% that don't pay taxes has been brought up again... some people just don't understand.... You have to MAKE MONEY to pay taxes. My Mother inlaw.. god bless her.. paid her share now is in the nursing home just getting by and doesn't make enough to pay taxes. I'm sure she is counted in that 47%.
My son comes out even on his taxes because of his low income. Is he counted as part of the 47%? Bachman says everyone should pay something. Lets squeeze that turnup. But perhaps it is the ones who can afford the tax lawyers to find the loopholes who end up not paying. Just saying

[snewsom2997]

The poorest people in the US are still in the top 10% of global income earners, people making minimum wage are in the top 5%.

[jtdev1]

Yup, there is something to be said about measuring yourself against the bottom of the barrel.

There is always someone poorer than you.... Great way to look at it.

[luadda22]

jtdev, and there will always be someone richer than you, so bury your envy.