Who is rich? I can assure you that to those of us from Talco Texas, someone who made $4.2 Million last year would definitely be perceived as rich. Clearly, the McCains are richer. I think Senator McCain was trying to say some weeks ago that Mr. Obama shouldn't try to label himself as not rich and the McCains as rich. He missed the mark. The bottom line is both of them are pretty comfortable.
If you divide the $4.2 Million the Obamas made last year by a 45 year work life you get something over $93,000 per year. So in one year he made slightly less than double the median the average US family income for a 45 year work life. This $93,000 figure would put him in the upper quintile (20%) of wage earners in the US period. He made 84 times the average US family income. 1/46th of his income would still leave him in the upper 20% of us incomes.
I do not begrudge the money he has made. I am proud for him, the problem is his trying to differentiate between himself and Senator McCain economically fails the test. His background may be humble. In the here and now, he is NOT just a humble Joe.
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