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Rich or Poor?

Once upon a time, $50,000 a year was a great salary for buying a home. But, according to a new report, people who make $50,000 are now considered low-income and will have a difficult time becoming homeowners. (from local news.)

And yet, every time I listen to a political candidate, he tells me that the tax cuts only benefited the wealthy. But I remember cashing that check, and reading over the forms this year it looks like I won't pay as much -- well, I'll pay more, because half my income isn't tax-free this year, but the percentage is lower. And my home state taxes didn't rise at all. (BTW, it's my state taxes that incline me so much towards a flat tax rate.)

So which is it? Am I wealthy, or poor?

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