View Poll Results: Do you think a household income of $150k makes you 'rich'?
Damn straight
65
34.03%
Unlikely
126
65.97%
Voters: 191. You may not vote on this poll
$150k / year = 'rich'?
May 18th 2008, 1:55 am
#1
What's happening dudes?
Thread Starter
Joined: Mar 2004
Location: Bayside Brisbane
Posts: 20,647
$150k / year = 'rich'?
During the recent budget, the Labor party stated that household's earning $150k were rich. What do you think? I'd loving to be seeing that kind of money coming into our bank account but I wouldn't really consider somebody earning that to be 'rich'
May 18th 2008, 2:03 am
#2
BE Enthusiast
Joined: Feb 2008
Location: Canberra
Posts: 899
Re: $150k / year = 'rich'?
The reality is that Australia has an equitable tax system which provides a lot of support for families on low to middle incomes. This is in contrast to countries like the US. There is broad public support for this as it helps promote social cohesion.
May 18th 2008, 2:07 am
#3
BE Enthusiast
Joined: Nov 2004
Location: Sydney, Australia - formerly Portsmouth UK
Posts: 938
May 18th 2008, 2:13 am
#4
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: $150k / year = 'rich'?
I would say "Well off".
Even if you live in Sydney.
Even if you live in Sydney.
May 18th 2008, 2:14 am
#5
What's happening dudes?
Thread Starter
Joined: Mar 2004
Location: Bayside Brisbane
Posts: 20,647
Re: $150k / year = 'rich'?
With $150K income evenly spread between two earners you would be very comfortably off. If it was a one earner family then it wouldn't be so good, but still comfortable. I agree that government shouldn't be handing out money to people on or above that income level.
The reality is that Australia has an equitable tax system which provides a lot of support for families on low to middle incomes. This is in contrast to countries like the US. There is broad public support for this as it helps promote social cohesion.
The reality is that Australia has an equitable tax system which provides a lot of support for families on low to middle incomes. This is in contrast to countries like the US. There is broad public support for this as it helps promote social cohesion.
May 18th 2008, 2:15 am
#6
What's happening dudes?
Thread Starter
Joined: Mar 2004
Location: Bayside Brisbane
Posts: 20,647
Re: $150k / year = 'rich'?
Well off for sure. You're earning a good crust above the average but I don't think that's anywhere near rich to be honest. On $150k, you could impulse buy a large plasma TV, rich means you could impulse buy a new car 
May 18th 2008, 2:18 am
#7
Lost in BE Cyberspace
Joined: Nov 2005
Location: at the bottom of a wine glass
Posts: 28,176
Re: $150k / year = 'rich'?
I think it's all relative to what you earn or have earnt before. For me - someone who has never got above £25k total household income (with two working!) then $150k is a fortune and I'd be more than happy with that and would feel very rich....until I got used to it then I would probably think I need more and it wouldn't seem as much anymore.
May 18th 2008, 2:20 am
#8
Lost in BE Cyberspace
Joined: Sep 2007
Location: Canberra
Posts: 8,378
Re: $150k / year = 'rich'?
Comfortable, probably yes, rich no. A couple of teachers working full time would be on about that and no one in their right mind would call that "rich".
May 18th 2008, 2:28 am
#9
You call that a moustache
Joined: Sep 2006
Location: Heading West..
Posts: 2,060
Re: $150k / year = 'rich'?
With $150K income evenly spread between two earners you would be very comfortably off. If it was a one earner family then it wouldn't be so good, but still comfortable. I agree that government shouldn't be handing out money to people on or above that income level.
The reality is that Australia has an equitable tax system which provides a lot of support for families on low to middle incomes. This is in contrast to countries like the US. There is broad public support for this as it helps promote social cohesion.
The reality is that Australia has an equitable tax system which provides a lot of support for families on low to middle incomes. This is in contrast to countries like the US. There is broad public support for this as it helps promote social cohesion.
Rich? No, but I think that at 150k you should recognise that you dont need handouts from the government.
May 18th 2008, 2:36 am
#10
BE Enthusiast
Joined: Sep 2004
Location: From Bradford to Brisbane
Posts: 773
May 18th 2008, 2:37 am
#11
BE Enthusiast
Joined: Jun 2003
Location: Melbourne, Victoria
Posts: 524
Re: $150k / year = 'rich'?
Comfortable is a more appropriate term for $150k but it depends upon personal circumstances. I would not consider myself rich below $350k. Consider it costs $1M plus to buy a house in many Melbourne suburbs now.
Labor is removing a lot of benefits for whom they consider rich. The baby bonus being an example. I presume the rich have paid their taxes even though the have less entitlement to benefits.
Labor is removing a lot of benefits for whom they consider rich. The baby bonus being an example. I presume the rich have paid their taxes even though the have less entitlement to benefits.
May 18th 2008, 2:45 am
#12
BE Forum Addict
Joined: Aug 2006
Location: WA but NOT Perth!!!!!
Posts: 3,318
May 18th 2008, 2:46 am
#13
Account Closed
Joined: Jun 2005
Posts: 9,316
Re: $150k / year = 'rich'?
As for comfortable, I would put that somewhere around $100k
May 18th 2008, 3:10 am
#14
BE Enthusiast
Joined: Feb 2008
Location: Canberra
Posts: 899
Re: $150k / year = 'rich'?
The real issue is whether you managed to get in on the property market when prices were still reasonable - i.e. before 2001. If you are planning to buy now and you have two kids you would only just be comfortable with a combined 150K in the big cities. If you bought in 2000 then you would be doing very nicely with enough discretionary income for overseas trips every year or two, weekend getaways, the occasional high class restaurant etc.
May 18th 2008, 3:27 am
#15
Lost in BE Cyberspace
Joined: Sep 2005
Location: Somewhere South... Not Telling YOU
Posts: 10,959
Re: $150k / year = 'rich'?
pre tax? or after tax?
either cuold make you secure/comfortable... neither would make you 'rich' .... unless of course you were making 150k off your capital investments.... then you might be rich...
either cuold make you secure/comfortable... neither would make you 'rich' .... unless of course you were making 150k off your capital investments.... then you might be rich...