Buffett has gone bonkers! Even so he is not talking about $250,000 a yr. wage earners, but actual millionaires and billionaires.
I remember a conversation I had 10 or 12 years ago with a relative who worked as a auto dealership parts manager, having worked his way up from parts delivery 25 years earlier. He marveled that he was making nearly $200,000. He marveled even more that this figure had not made his any easier and his family still lived pay check to pay check. For we that live in fly-over country, he lived in a high cost of living coastal region. The point is that $250,000 ten or twenty years from now can catch a whole lot of folks who think it does not apply to them!