Yes, because income tax brackets aren’t progressive (all the income is taxed at 35%, and no standard deduction). People should definitely live a lifestyle with no slack for savings.
It’s <someone else’s> fault I couldn’t save anything with 3.5x the median household income.
'Low income' is defined as a household income of 80% of the median ($166K), depending on household size. $150K only meets that for a family size >= 4. There's also 'very low' (50% median) and extremely low (~35% median.)
It’s <someone else’s> fault I couldn’t save anything with 3.5x the median household income.