Romney defines "Middle Income" as $200k-250k

[KoopaKGB]

Mitt Romney defines "Middle Income" as $200,000-250,000? Hopefully some day I hope I can earn TEN TIMES what I make now and become middle class...

Romney: 'Middle Income' Is Between $200,000 and $250,000 - DailyFinance

But then the article states this... "His campaign later clarified that Romney was referencing household income, not individual income." Ok so hopefully I can get married and my spouse and I can earn 10 times what I take in now...

For a moment I thought Romney might be out of touch with me as a taxpayer.

It's really terrible that America is stuck with this 2 party system in government. I know when I vote Ron Paul or Gary Johnson then my vote is basically going into the trash can as the 2 big guys are the ones that matter. It would be interesting if we had say 3 big guys to vote for. But thats another thread, just thought I'd share this.

 

[RobbyMaQ]

He states it is 200k-250k AND LESS
Obama also states it as UP TO 250k

It would appear that middle class defined much like the 'midwest'. Like everything between california and new york, middle class likely encompasses anything above the poverty line (20k or so i suppose) and being a gazillionaire?
I'm with you though... I'm thinkin 50-100k is middle class here on planet earth.

 

[starbreather]

In 1980, the middle income quintile of families had
real incomes between $27,617 and $39,115.

How's that for change.....

 

[KoopaKGB]

In 1980, the middle income quintile of families had
real incomes between $27,617 and $39,115.

How's that for change.....

Alot can happen with only 2 politcal parties in office and 32 years. Certainly a few things will change in 3 decades...

 

[melensdad]

Mitt Romney defines "Middle Income" as $200,000-250,000? Hopefully some day I hope I can earn TEN TIMES what I make now and become middle class...

Romney: 'Middle Income' Is Between $200,000 and $250,000 - DailyFinance

You need to learn how to read more carefully.

$250,000 AND LESS is what he actually said.


I'd say he is probably on target. Middle income for a "family" probably starts at about $40,000 to $50,000 on the lower end and goes up to about $250,000 at the high end.

Realize that from the socio-economic standpoint, there are many levels. Lower lower, upper lower, lower middle, middle, upper middle, lower upper and upper upper. Generally speaking all 3 brackets of the middle class (lower middle, middle middle and upper middle) are generally lumped into the term "Middle Class" for political purposes.

The above are the breakdown in classes that I learned in economics classes in college. They seem to still stand the test of time.

 

[KoopaKGB]

He answered "No" when asked if "is $100,000 is middle income?" The answer should have been "yes" there. They didnt ask him the upper bracket.

 

[GBuck]

"No, middle income is $200,000 to $250,000 and less," Romney responded.

Seems pretty clear to me.

 

[jtdet01]

There are over 97% of US households that make $250,000 or less.
There are over 97% of US households that fall into this definition of middle class.
I guess those on welfare are also in this group of $250,000 or less.
So, let's celebrate, we ALL have Middle Income.
(I find it humorous that BOTH Romney and Obama said the same thing).

... dripping with sarcasm . . .

 

[printcraft]

He answered "No" when asked if "is $100,000 is middle income?" The answer should have been "yes" there. They didn't ask him the upper bracket.

Why should $100K be considered middle income? What purpose is served from that number hummmmmm?

Well, look a little deeper. I read that a little differently.
He is classifying that as low income.

In other words, "Don't raise taxes on these people."

Obama keeps creeping down on the amount he considers to be "rich" therefore great fodder to say they need to have taxes raised and the occupy wallstreet socialists will agree with him.

First it was $250K then $200K then $150K now I believe he considers $97K to be "rich" not middle.... rich.

What do progressives want? "TAX THE RICH!"

If you have a combined household income from lets say you wife and you
busting your ass together, working over 40hrs weekly for $97,000 a year do you think of yourselves as the "rich"?

 

[VERT]

What we perceive as "Middle Class" would change depending on where we live. My wife and I live a comfortable but not extravagant lifestyle. If we took our same household earnings to either the east or west coast we would have to live in a cardboard box.

 

[printcraft]

What we perceive as "Middle Class" would change depending on where we live. My wife and I live a comfortable but not extravagant lifestyle. If we took our same household earnings to either the east or west coast we would have to live in a cardboard box.

This too figures into the equation. /\

Every watch one of those home improvement shows where someone
in cape cod buys a house and the list the original price before restoration...

2 bedroom ramshackle shack you could get here for $30,000.00 out there costs upwards of $750,000.00 it's insane.

There are over 97% of US households that make $250,000 or less.
There are over 97% of US households that fall into this definition of middle class.
I guess those on welfare are also in this group of $250,000 or less.
So, let's celebrate, we ALL have Middle Income.
(I find it humorous that BOTH Romney and Obama said the same thing).

... dripping with sarcasm . . .

Well, that is a lot of "rich" for the government to leach off of isn't it?!

 

[cobber]

Why should $100K be considered middle income? What purpose is served from that number hummmmmm?

Well, look a little deeper. I read that a little differently.
He is classifying that as low income.

In other words, "Don't raise taxes on these people."

Obama keeps creeping down on the amount he considers to be "rich" therefore great fodder to say they need to have taxes raised and the occupy wallstreet socialists will agree with him.

First it was $250K then $200K then $150K now I believe he considers $97K to be "rich" not middle.... rich.

What do progressives want? "TAX THE RICH!"

If you have a combined household income from lets say you wife and you
busting your ass together, working over 40hrs weekly for $97,000 a year do you think of yourselves as the "rich"?

Well said!

 

[drillsgt]

Why should $100K be considered middle income? What purpose is served from that number hummmmmm?

Well, look a little deeper. I read that a little differently.
He is classifying that as low income.

In other words, "Don't raise taxes on these people."

Obama keeps creeping down on the amount he considers to be "rich" therefore great fodder to say they need to have taxes raised and the occupy wallstreet socialists will agree with him.

First it was $250K then $200K then $150K now I believe he considers $97K to be "rich" not middle.... rich.

What do progressives want? "TAX THE RICH!"

If you have a combined household income from lets say you wife and you
busting your ass together, working over 40hrs weekly for $97,000 a year do you think of yourselves as the "rich"?

Exactly, while realistically most folks probably fall into the 100K or less category if he would have stated this then anyone over that would be fair game for the "tax the rich" crowd. If you are a two professional household then 200K is not unrealistic but I still don't think of that as rich.

 

[starbreather]

Thanks Mr. Obivious

Alot can happen with only 2 politcal parties in office and 32 years. Certainly a few things will change in 3 decades...

That was the whole point. Change!

 

[lucky4034]

I think that people incorrectly assign themselves as middle class or middle income because they don't eat out of a dumpster.

 

[Denny347]

250k is NOT middle class.

 

[Survivalcookie]

I always thought middle class was someone who owned their home...had a couple of cars...was not on food stamps or medicaid...had to watch their pennies but could afford everything they need. Putting a dollar amount on it with out a wide range would be nuts considering the cost of living varies so much in each area of the country..

 

[Lex Concord]

250k is NOT middle class.

It sure as heck isn't upper class, especially when you take out taxes. And no, I don't make half that much.

 

[Denny347]

It sure as heck isn't upper class, especially when you take out taxes. And no, I don't make half that much.

I make less than a quarter of that...hell yeah it's upper class. Not rich but damn close.

 

[bman1962]

I make less than a quarter of that...hell yeah it's upper class. Not rich but damn close.

My wife and I make half of it and we damn sure are not rich!!!!