How Do You Define 'Middle Class'?
Both Romney and Obama use a figure of about $250,000 or less to call people "middle income," but that represents the vast majority of the American public. Who's really in the middle?
Both Republican candidate Mitt Romney and President Barack Obama are discussing tax cuts for the "middle class," but both define that as household income of less than $200,000 or $250,000 a year.
On Friday, Romney told ABC's "Good Morning America" that he would not raise taxes on "middle income" taxpayers. George Stephanopoulos asked him if "middle income" was $100,000, and he responded, "No, middle income is $200,000 to $250,000 and less."
Obama has proposed keeping the Bush-era tax cuts for everyone making less than $250,000, which he also defines as middle income. But Obama's plan would raise taxes on those making more than $250,000, while Romney's would give higher income earners a tax break, according to the New York Times.
The median — or middle — household income in America is about $50,000, the Census Bureau reported last week. In Connecticut, the median income was $64,032 in 2010, down about 6 percent from $68,174 in 2009. Are both Romney and Obama miscalculating when they define middle-income for a family as up to $250,000?
How do you define middle income earners? Tell us in the comments.
Judy Putnam
11:47 am on Wednesday, September 19, 2012
According to the Census Bureau the median household in the U.S. is about $50,000. Seems that's a better figure to use in determining middle income earners rather than the $250,000 that Obama and Romney are suggesting.
Erik Kengaard
2:35 pm on Wednesday, September 19, 2012
$60,000 in Nebraska might be equivalent to $120,000 in New Jersey. $50,000 on either the east or west coast is poor.
Alex H
4:50 pm on Wednesday, September 19, 2012
Including the average income and the borders among the five income quintiles would be more illuminating than a single data point.