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Modify the definition of wealthy by region. $250K for a family living in an NYC suburb is not wealthy by any means.

Created by A.P. on December 03, 2012

For purpose of Federal Tax Rates, define individual and family wealth by region or by state in order to take into account cost of living by region. It is unfair to classify a group as "wealthy" without taking into account the cost of living within a particular area. For example, a family making $250,000 in a suburb of Oklahoma City has a much lower cost of living compared to a family making $250,000 in a suburb of NYC, where homes and state/local taxes are MUCH higher.

Why should both families have the same federal tax rate?

Budget & Taxes
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