(Obama said that if you make $250,000 a year you are rich, McCain said that only if you made $5,000,000 a year should you be considered rich! The economist Bernstein splits hairs and tries to state that it depends on where you live.)
How To Know If You're Rich
Pastor Rick Warren asked both presidential candidates about their definition of rich this weekend at the Civil Leadership Forum in Orange County. Democratic candidate Barack Obama and Republican candidate John McCain gave very different answers. Jared Bernstein of the Economic Policy Institute shares his version of the differences between rich, middle class and upper middle class with Alex Cohen.
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