10k aggregate isn't nearly as much as it sounds like - especially for an established adult family or household.
Consider that this could be accumulated savings over time and various accounts. Also consider things like employer-sponsored retirement accounts that someone may have had with an American company that they have simply forgotten about. (That happens FAR more than people realize/ would expect)
The point is it's a bad rule. Making the line 10k is guaranteed to pick people soldily 'middle class' and not just "rich" people.
> Making the line 10k is guaranteed to pick people soldily 'middle class' and not just "rich" people.
Yup. If one has a hundred grand or more in fairly liquid assets, yeah, I can see the argument for having them check to make sure all the Is are dotted. (Though even there, with life-long savings, inheritance, etc, it's within reach for "normal" people.) For less than a year's middle class expenses, probably not so much.
The point is it's a bad rule. Making the line 10k is guaranteed to pick people soldily 'middle class' and not just "rich" people.
You seem to imply that a good policy would be to screw the wealthy people and let those of moderate means flout the law. I don't think it's healthy to have a different set of laws depending on a person's income.
Consider that this could be accumulated savings over time and various accounts. Also consider things like employer-sponsored retirement accounts that someone may have had with an American company that they have simply forgotten about. (That happens FAR more than people realize/ would expect)
The point is it's a bad rule. Making the line 10k is guaranteed to pick people soldily 'middle class' and not just "rich" people.