AP's Report Bemoaning Income Inequality Says You're 'Rich' If You've Ever Earned $250K | NewsBusters: "Monday evening at the Associated Press, aka the Administration's Press, Hope Yen, with the help of lead AP pollster Jennifer Agiesta and three other reporters, tagged 20 percent of Americans as "rich."
To do so, she reinvented what it is to be "rich" or "affluent." It apparently has nothing to do with how it is normally defined, i.e., based on current net worth (assets owned minus debts owed). Ms. Yen's and AP's yearning is apparently to base it on whether you're in a household which has had annual earnings above $250,000 — ever. Really. The purpose of the piece appears to be to go after this segment of the population, such as it is, because they aren't knee-jerk supporters of limitless government spending, and won't spend money on consumption to improve the economy like Keynesians think they're supposed to."
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