What and who is rich?
January 6, 2011
The recent debate over the extension of Bush-era tax cuts to those making over $250,000 — which is just two percent of the population — raised a lot of questions about the definition of "rich." Some argued that an income of $250,000 makes a family wealthy, while others said those families qualified as "middle class." Who is rich in America these days, how do they behave and what separates the truly wealthy from those that are simply rich? We'll attempt to define what "rich" is with the help of Wall Street Journal writer ROBERT FRANK, who writes the WSJ's "Wealth Report" blog, and psychologist TED KLONTZ.