PDS 10.6 $400k Question Has The Internet FURIOUS, Rihanna Backlash, & Marriage Equality in Jeopardy
The Philip DeFranco Show
philip defranco
4.7 • 1.1K Ratings
🗓️ 6 October 2020
⏱️ 12 minutes
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| 0:00.0 | Sup ya beautiful bastards. Hope you've been a fantastic Tuesday. Welcome back to the Philip DeFranco Show and a quick thing before we get started. |
| 0:06.4 | Friendly reminder that you only have six days left. If you want to get the brand new one day will all be Skeletons hoodie or shirt. |
| 0:12.4 | But let's just say this is coffee mug. And of course our Adams don't be stupid, stupid masks. All available on shop defranco.com for a limited time. But with that said, |
| 0:21.2 | welcome to the Philip DeFranco show. Buckle up, hit that like button and let's just jump into it. |
| 0:25.7 | And the first thing that we're going to talk about today is a story and news that I'm kind of |
| 0:29.7 | just going to use as a way to poll you. Today we saw CNBC tweet out an article writing, |
| 0:34.6 | Biden defines $400,000 a year as, quote, wealthy. In big cities, |
| 0:38.8 | it only makes you upper middle class. With one of their key points being, according to a financial |
| 0:42.7 | planning analysis, families making $400,000 a year aren't exactly living large, especially in |
| 0:48.2 | major cities, to which I would personally say bullshit, as someone who grew up not having money |
| 0:53.7 | and now finding myself in the privileged |
| 0:55.2 | position of being kind of top one, top 2% in America. Yes, $400,000 a year makes you wealthy. As even |
| 1:01.0 | noted in the article, by national measures, those making $400,000 belong to a rarefied group. Keyword |
| 1:06.7 | being rarefied, right? Top of the pyramid. They represent the top 1.8% of taxpayers, earning about 25% of the nation's income. |
| 1:13.6 | So I guess I just find it absolutely ludicrous that you could be in the top 2% of earners and be like, eh, I'm not wealthy though. |
| 1:20.6 | What? Because you decided to live somewhere incredibly expensive? Because you, an adult person who's responsible for their own actions, made the choice |
| 1:27.8 | up I'm going to live here rather than maybe live somewhere cheaper. And yes, it'll do this to my |
| 1:32.2 | transportation time. But I don't know, man. If you can't figure it out on $400,000 a year, I don't. |
| 1:39.1 | Ooh, friend, you are living in Disneyland. I hope the real world never catches up with you. |
| 1:43.6 | Also, so you understand why this article is even being done, Biden wants to tax wealthy |
| 1:47.1 | people more with a marginal tax increase, meaning that the only taxpayers that would see |
| 1:50.8 | tax increases are people making an income of over $400,000. |
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