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View Diary: Won't someone PLEASE think of the 'poor rich' people? (90 comments)

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  •  I agree with most (0+ / 0-)

    except for the part about using cost-of-living as a measure of who is rich. Cost-of-living is only useful in determining who is poor. That is a subtle, but important difference.

    To put it one way, what do people living in Arkansas with an income of 400k a year do with their money? Well, they visit New York City, one of the most vibrant and enigmatic places in the world, and express jealousy over the people who can afford even a small starter home in the 'burbs.

    To be even more extreme, you can't say you are poor because you can barely afford that starter home in Beverly Hills.

    Owning property in a place like New York City is a luxury item itself. That is the whole reason why it is so expensive: it is an amazing place and everyone wants to be there. Most poor people can't even take their families there on vacation.

    •  Some of us were born there, you know. (0+ / 0-)

      And would prefer not to leave all our family and friends. It's not luxury, it's home. (and yes, I rent, could not possibly afford to own here)

      •  The part I refered to as a luxury (0+ / 0-)

        was owning a home in the New York City suburbs. Shelter is a necessity, anywhere, which is why the cost of finding shelter is useful in determining who is poor. However, owning a house is not a necessity.

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