I'm with Tame (:eek) and Jessica on this. $70K is not wealthy. We all survived on less 20 yrs ago - that doesn't mean you can year after year. Prices change with inflation.
My monthly bills / expenses = $2907
this doesn't even account for food, clothing, car repair, etc.. This is just mortgage, car payment, train fare, gas, electric, phone, internet, water bill, trash pick up, car insurance, health insurance (for 1), life insurance, retirement and ($350 worth of credit card payments)
$70k - 32% tax (??- could be more I get taxed at 27.848% for $48k)
= $47,600 take home (but as stated could be much less not sure on taxes)
My bills x 12 months = $34,884.
(my take home is actually $200 short of this figure, which is why I'm in a credit card mess in the first place.)
My point, the person making $70k will have more bills than me. People trying to say it would be "easy" to raise a family on this one income ... I just don't think you have all of the facts. The higher up you go in the career ladder, you have to buy "nice" clothes / suits for work. They'd have to buy food for themselves and their family.
Yes, they would have something left over, but they wouldn't be able to afford a mansion or to buy their house outright with cash. I do think that as you go along in your career path the more money you make, the more you are obligated to donate to charity. I only make about $48k but I do donate every month to charity.