Posted by Daryl Paranada

For Marketplace Money, Friday, October 22, 2010

This weekend's show focuses on the question: What is rich? The number of $250,000 a year is being thrown around by politicians a lot these days as being "wealthy" and "rich," just as the debate over what to do with the Bush-era tax cuts heats up. But is $250K really rich? Tess Vigeland talks with financial psychologist Ted Klontz and the Wall Street Journal's Robert Frank about wealth in America. We look at the burdens of wealth, how our perceptions of wealth affect us, and what makes us wealthy. Tess also takes us through what pop culture tells us about wealth, and we find out how people's wealth has changed. Commentator Felix Salmon says we need to tax the rich. And finally, we look at how far $250k can go in Beverly Hills, South L.A. and New York City. And here are the Money songs we played:

  • Billionaire -- Travie McCoy / Bruno MarsBuy
  • A Tease of Money -- The Ventures
  • Beautiful Dirty Rich -- Lady GagaBuy
  • Millionaire -- Shawn Lee & the Ping Pong OrchestraBuy
  • With Plenty of Money and You -- Tony BennettBuy

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Follow Daryl Paranada at @darylparanada