If you ask President Obama whether somebody who makes $200,000 a year ($250K if you're married) is rich, the answer is a resounding yes.
Interestingly. however, an important Democratic ally, Barbara Roper of the laughingly misnamed Consumer Federation of America, sent a letter to the WSJ observing that:
When all it takes to invest in a private offering is annual income of $200,000, it is absurd to suggest that these offerings are sold only to wealthy, sophisticated investors.
So in the liberal world, if you make over $200K/year, you're "rich" when the government wants to take more of your money away in taxes, but poor, unsophisticated, and in desperate need of government paternalism when you want to invest some of your own money.
