Updated: Mon, 24 Sep 2012 11:57:33 GMT | By Damian Clarkson, senior editor, MSN Money

At what point do you become rich?

Taxing the rich is a widely supported idea, but at what point do you consider someone to be wealthy?


Nick Clegg says higher earners must pay more tax (© Image © Steffan Rousseau - PA Archive)

Anyone earning more than £50,000 should brace themselves for higher taxes, according to Nick Clegg.

The deputy prime minister believes these top 10% of earners - around three million workers - must pay a proportionately higher level of tax than they currently do.

Among the options being considered are ending tax relief on pension contributions for higher-rate taxpayers, further hiking capital gains tax and an 'accessions tax' to replace inheritance tax.

All in the definition
Support for taxing the rich is as close to universal as you're likely to get in the world of finance. You earn more, therefore you should pay more.

It's a pretty simple philosophy - and one that's hard to argue against. However, one aspect that's often overlooked is at what point someone should be considered rich. When do we go from simply being comfortable to being wealthy?

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How much would you need to earn before you considered yourself rich?

Thanks for being one of the first people to vote. Results will be available soon. Check for results

  1.  
    7 %
    £40,000 - £45,000
    479 votes
  2.  
    2 %
    £45,001 - £50,000
    117 votes
  3.  
    4 %
    £50,001 - £55,000
    312 votes
  4.  
    2 %
    £55,001 - £60,000
    128 votes
  5.  
    4 %
    £60,001 - £65,000
    313 votes
  6.  
    3 %
    £65,001 - £70,000
    204 votes
  7.  
    6 %
    £70,001 - £75,000
    433 votes
  8.  
    6 %
    £75,001 - £80,000
    402 votes
  9.  
    6 %
    £80,001 - £85,000
    411 votes
  10.  
    2 %
    £85,001 - £90,000
    128 votes
  11.  
    0 %
    £90,001 - £95,000
    110 votes
  12.  
    3 %
    £95,001 - £100,000
    201 votes
  13.  
    55 %
    £100,000+
    4,032 votes

Total Responses: 7,270
Not scientifically valid. Results are updated every minute.

It's a highly debatable issue, of course, and one that probably doesn't have a definitive answer. One key reason for this is that the goal posts are always moving.

With inflation constantly driving up prices, a salary that would have landed you squarely in the 'rich' bracket 10 years ago might simply be considered above average by today's standards.

We published an article earlier this month that claimed someone earning £45,000 should not be considered wealthy. It provoked a lot of debate, with people making valid arguments for both side.

Let us know your view
So how much would you need to earn in today's climate to consider yourself 'officially' rich? We'd love to get your view, so please do vote in our poll and share your thoughts in the comments section below.

Disclaimer: we recognise that there are many more factors that affect your wealth than just salary (are you a parent? Do you live with a partner who works as well, etc.), so we realise that this is by no means definitive. Nonetheless, it does provide an interesting insight into what we consider to be wealthy - and how our views compare to others.

174Comments
24/09/2012 18:26
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I earn just over £50,000 and already pay 40% tax PLUS NI contributions PLUS financial support you've also made sure I need to provide for my daughter who is at university. I live alone so pay a mortgage from one wage. I got myself into my job not by luck but by paying myself through 12 years of further education. Funny, I don't see myself as rich. My bank manager would also agree in light of my frequent visits into my overdraft.
24/09/2012 18:25
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nick clegg is talking rubbish ask him how much he and his wife earn and will they be prepared to pay more tax the country is in a mess because of the goverment not joe public so why should we have to bale them out I work hard for my money the goverment take enough off me in tax already so why dont they sort out who is wasting money in the goverment I am sure they will find lots of dead weight which could be removed and free up funds
24/09/2012 18:07
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Rediculous ideas once again from Nick Clegg. 50k per annum in the South East hardly gets you a mortgage! Really what is the point in working hard? 
24/09/2012 22:14
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Its all well and good saying earn more pay more, but what incentive is there to do well in life? I thought until recently that I was doing well with my salary, I then find out my neihbours dont work at all and make just as much money from benefits, plus they get a council house while I am paying a mortgage.
24/09/2012 23:10
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50k is Clegg taking the ****? That just about a living wage now when you consider the price of mortgages, domestic fuel, transport and or vehicle costs, the price of food and childcare fees. Oh and I forgot to mention that you have to pay 9k a year to get a degree now too!

 

What a ****, why should people who have worked hard to earn 50k have to pay more tax? That will just limit peoples ambition by punishing the successful to support the idle and incompetent.

 

Lets stop giving money to other countries.

Lets stop bailing out other economies.

Lets stop letting people live here for free.

Lets stop making people better off not working.

 

24/09/2012 17:41
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Although slightly of subject does anybody agree that it would be a good move for our government to start putting money into buying things like water, gas, electric companies to help lower the price of living and kick start some competition rather than putting Billions into failing banks that take the money and then still go and fail anyway?

Also why do they insist in giving hundreds of millions of our hard earned money to certain '3rd world' countries when a lot of these are '3rd world' because of their greedy leadership. I am all for charity but how about letting us decide for ourselves if we wish to donate rather than choosing for them selves and then closing public services to compensate.

25/09/2012 09:00
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Mr Clegg, you've just lost my vote. I earn around £50,000 per year gross, for that I work an average 70 hour week and drive around 35,000 miles per year spending time away from home. I am 60, I have got to this position by hard work since the age of 17 when I left school. I have never had a day out of work, always paid my taxes and never claimed a penny in hand-outs. The government now takes 40% of anything I earn over about £35,000. The whole of my company car benefit is taxed at 40% (not just a proportion above the basic rate). A person earning £1,000,000 per year only pays an additional 5% tax. What do you earn per year Mr Clegg? Mr Cameron says he wants to reward hard working people, when is that going to happen? Plebs!
24/09/2012 18:20
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Hopefully there is no chance of anyone voting to let the Lib Dems into Government ever again.!!  They continually show themselves as clueless on the economy and have double standards on everything else.  If this country is ever going to survive someone needs to find a way to stop the waste of taxpayers  money and reduce  the need to raise more and more tax - politicians are bleeding the country dry!!  slash foreign aid immediately, axe all non essential spending. 
24/09/2012 22:12
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I am a middle aged plumber who works 12 hrs a day minimum plus evenings and weekends. Based on Nick Clegg's view of life I am one of those who should pay more taxes. Forget the fact that I came inot this world with the same as almost everyone else - i.e. nothing and what I have now I have worked for. Forget the fact that I get no help from the state when I am ill, can't work, work is quiet so i don't earn for a while. Forget the millions the government waste on schemes that do not produce anything, ideas that never get implemented or are just wasted because it's only tax payers money! Despite all of that he still wants to come after those who are working as hard as they can for their own benefit and that of their families. Paul Kemp below said God help us all. Sorry but I don't think God is going to help. Neither is Government, the EU or anyone in authority. I used to be an optimist but the older I get and the more I see how badly and out of touch all of those in Government are - the more STUFFED I think we are!    
24/09/2012 21:52
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nick clegg ..2nd in command of the  country .. god help us all . What a namby pamby wishy washy twit .

 

 

 

 

 

 

 

 

 

 

Nick Clegg ............2nd in command of the uk ... good help us, how do these twits get into power?

 

 

 

 

 

 

 

 

 

 

24/09/2012 15:30
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At what point do you become rich?

 

Never, if you Vote for Clegg and Cable.

24/09/2012 15:53
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another out of touch  policy from a man who doesn't give a dam about working classs people
24/09/2012 16:10
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we would all be a lot richer if we got rid of all the scum in parliament and sent back all the sponging immigrants.
24/09/2012 18:29
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the more you earn the more you pay anyway. once you get to a certain level you are in the 40% bracket , thats this country all over punish someone for being successful and working hard tax him/her to death, the bigger the house you have the more council tax you pay  yet you have a street light and a couple of bins , same as someone down the road paying way less, this government wants to concentrate on all the spongers that dont work but get that much in benefits they have 3 holiday abroad a year and laugh in the face of the workers, if on benefits you should only servive as a exisistance , no spare cash for fags and booze and be able to run a car

 NOW GO AND SORT THE THINGS THAT MATTER AND STOP GIVING OUR CASH AWAY

leave the workers alone who pay enough even when they spend hard earned ca**** taxed to the hilt

Clegg your in a position because of how the voting went , a false position you and the other idiots of your party , just stick to being a muted puppet

24/09/2012 15:58
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Rich is when you don't *need* to work to pay all your outgoings.
24/09/2012 20:16
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How about the government numpties give their fortunes up and work for minimum wage?  The way things are at the moment prices always on the up with everything you come across thats deamed essential for millions of households the NEW minimum wage should be £50k!! Apparently the people that earn this type of money could contribute in other ways as in higher tax! People that have worked hard to get to this type of wage structure and many many people that deserve to be on this! Are you as government F**king real? Dayto day things get higher and you want to go for middle of the road hard working people?  I'm not on minimum wage but was for many many years, unlike these idiots that seem to think that people can survive on this type of money?! I myself earned last year £30k, my wife who works also earned £9.5k, sounds absolutely brilliant on paper, far from minimum but then put into account child care (x3), the usual clothes, shoes, uniforms, food bills alone ain't cheap, fuel back and forth to your work places, energy bills etc etc etc the list goes on...............My bills and the like cost exactly the same tariff wise as Joe Bloggs on minimum wage working like mad just to pay asmuch as they can believe me £40k last year didn't put me in any better state mind you but we did manage a day out or two with the kids after all the bills got taken out! Long winded I know but Cameron / Clegg what are you doing for those that couldn't/can't pay their way even though working X amount of hours to pay a little something towards their mounting bills?  Stop making excuses and sort this one thing out.....get rid of all your deadwood in parliment and we'd all be better off! You lot are here to make things better in this country for all, not just for yourselves, oh and by the way, you can kiss your **** goodbye for the power next general election because the UK public arenow more willing to elect The Teletubbies knowing that they could do a better job for less money than you lot!
24/09/2012 19:20
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£50k is not rich,after paying mortgage and household bills what is left?This man is an idiot
24/09/2012 22:52
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Sort out the benefit cheats and the tax evaders first.
24/09/2012 16:31
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I'm not earning anywhere near 40k but my view is there should be one tax band.   If everyone gets the 10k free allowance then pays 30% on everything else they earn then surly the more you earn the more tax you would pay.  We don't need a complicated inefficient tax system.  If it was this straightforward with most of the tax loopholes closed except maybe charity related ones, surley the cost to collect and administer tax would decrease and revenue would rise. Scrub NI just have the one tax deducted via PAYE.  Obviously I dont know what the exact tax would be its my thought on the matter.

24/09/2012 17:37
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Clegg is merely targeting the hard working rather than the rich.  The guy's an imbecile who would never hold such high office if Cameron didn't need his party's support.

 

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