Americans believe that $150,000 a year would make them rich, Gallup poll says

A recent Gallup poll conducted between November 28 and December 1 revealed that the average amount of money that an American household would need to make in order to consider itself rich is $150,000.

The poll asked people the following question: “just thinking about your own situation, how much money per year would you need to make in order to consider yourself rich?”

The participants provided responses ranging from as little as less than $60,000 in annual income to more than $1 million, according to the survey.

The New York Times reports that having a household income of $150,000 would place that household ahead of either 89 percent or 90 percent of households.

The current debate surrounding “tax credits for the rich” involves additional tax benefits provided to individuals earning more than $250,000 per year and families generating more than $200,000 per year. Households earning this amount are somewhere between the 96th and 97th percentiles.

The results varied significantly depending on demographic differences. Young people without families generally do not have to worry about coping with high expenses, though loans have proven an increasingly heavy burden for many young Americans.

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