Posted on 09/15/2012 7:27:47 AM PDT by SeekAndFind
An interesting quote from Mitt Romney in an interview with ABC's George Stephanopoulos:
GEORGE STEPHANOPOULOS: Is $100,000 middle income?
MITT ROMNEY: No, middle income is $200,000 to $250,000 and less.
Hmmm.
Maybe $200,000-$250,000 is middle income in Mitt Romney's world, but it's a tad higher than the middle when measured against most of America.
In fact, $200,000-$250,000 is in the top 2%-3%. "Middle income" these days, at least measured by percentage of incomes, is something between $30,000 and $100,000.
And maybe what Romney meant is the that $200,000-$250,000 can feel like middle income. And that's certainly true, especially in some parts of the country.
But...
The good news is that Mitt Romney says he doesn't want to raise taxes on those folks. In fact, he says he wants to cut them:
No, middle income is $200,000 to $250,000 and less. So number one, don’t reduce– or excuse me, don’t raise taxes on middle-income people, lower them. Number two, don’t reduce the share of taxes paid by the wealthiest. The top 5% will still pay the same share of taxes they pay today. That’s principle one, principle two. Principle three is create incentives for growth, make it easier for businesses to start and to add jobs. And finally, simplify the code, make it easier for people to pay their taxes than the way they have to now.
(Excerpt) Read more at businessinsider.com ...
It’s a spending problem not a revenue problem
He said that "and less." In places where there is a higher cost of living than average that is indeed middle income and not exactly going to make someone be flush with cash. Small Business owners also are taxed for income like this but actually in most cases pay themselves far, far less.
Looks like another invented "gaffe" for the media. I was flipping through channels and there was some panel talking about how this was a bad week on the issue of foreign policy for Mitt Romney - yes - for Mitt Romney.
lower all rates, widen the base, get rid of deductions.
Lib media trying to make something out of nothing. Clearly Romney was saying middle class income is up to 200-250k - 200k on individual, 250k for family. Just like Obozo.
Media is corrupt.
That will give a big boost to Obama and leave the mess of the debt to the Repubs after Obama leaves office.
Geez... have liberals ever been to New York City or California? $100,000/yr there is chump change.
This “promise” by OBAMA sets HIS adminstration’s view on the upper edge of the “middle class”?
If OBAMA thinks $250K is not
middle class” then why is he offering them tax protection?
Romney's people need to get ALL OVER THIS
In urban areas and high tax states, $250K is middle class
Take-home pay is about 60% of that before property taxes etc. In reality $250K is take-home half of that and pay your own way for everything plus a major source of local and property taxes, charities and nonprofits in many communities, and no child tax exemptions etc that boost the incomes of people making just a bit less
doesn’t matter if you confiscate all income over 250,000 it still will not be enough down the road
250,000 is rich in some places and not so much in others
where I live the median family is over 90K now
richest counties in the nation are all counties where large numbers of federal employees live...over 100K
250K per year in exepensive areas is not rich for a family
pay 75K or so in tax and another 15K or so in FICA and you’ve got 12-13K/month..nice but hardly rich
kids in college, private school, 500k-1M residence and you are cash poor again
single many living in a modular home in rural area making 75K if richer in spending power
to me truly rich is 10M net worth minimum
below that and uncertainty is still entertained
I would be rich if I was worth what I owe....this economy is beating the hell out of my assets and most folks I know say the same except a few startups that got a nice niche
Working class lifestyle is characterized by renting your home, and taking public transportation or having an old used car.
Middle-class lifestyle is characterized by being wealthy enough to own your own home, having one or more late-model cars, and being able to eat out in a nice restaurant every once in a while, and being able to go someplace on vacation once a year or so. Those earning 50K to 250K are part of this lifestyle.
What makes the wealthy lifestyle different from middle class is that they are able to afford one or more full-time servants living with them. This is a fundamental lifestyle difference.
Romney is obviously considering union teachers.
You take a middle-level fireman married to an ER nurse and with overtime their combined incomes will be in the neighborhood of $200k, but in the Northeast with high income, sales and property taxes, their standard of living will not be much higher than a couple earning a lot less but living in the rural midwest. (which is why I don’t live in the NE!)
In NJ $100K is barely above the poverty level.
Henry Bloggett appears to be an idiot. Or a liberal.
Stephanopolis was trying to say the top of the middle class was $100,000. Romney correctly noted that the middle class income can go up to $200-$250 thousand.
Some people note that it can be even higher, for those in the middle class who “earn” money from a business, and then have to expense it out.
Stephanopolis is hoping to give cover to Obama — if $100,000 is the top of the middle class, he can more easily lie about not raising taxes on the “middle class”.
Henry Bloggett appears to be an idiot. Or a liberal.
Stephanopolis was trying to say the top of the middle class was $100,000. Romney correctly noted that the middle class income can go up to $200-$250 thousand.
Some people note that it can be even higher, for those in the middle class who “earn” money from a business, and then have to expense it out.
Stephanopolis is hoping to give cover to Obama — if $100,000 is the top of the middle class, he can more easily lie about not raising taxes on the “middle class”.
“Middle Class” is the second, third and fourth quintiles? “Poor” is the bottom quintile, and “Rich” is the top qunintile.
At least, I think that is how the Gub’mint defines it.
The Census Bureau reports that the median per capita income was $30,498 in NYC and the median household income in NYC was $50,285.
I don't think it takes an awful lot of effort to live comfortably on $100k -- but that comfort probably doesn't extend to stuff like leasing a new luxury SUV every 3 years. Maybe a 10-year old Toyota Corolla would be more appropriate. Or, in NYC, a good pair of walking shoes.
I'd agree with Romney (and Zero) that "middle income" may be as much as $200k or $250k. At least in NYC a family making $250k is not "rich". (Adding NY state and city income taxes, NY state and city sales taxes, property taxes and Federal taxes, more than half of that $250k is probably siphoned away in taxes in NYC.)
mortgages for one
http://www.bridgesoutofpoverty.com/
Poverty is characterized by a certain set of values. This places extended family relationships and loyalties above all else. (It is almost tribal.) The middle class is goal oriented and competitive. The upper class is based on networking and social alliances. Each class has hidden barriers to the other.
Teachers, social workers and Law enforcement have to be particularly aware of this. A cop has to understand the loyalties and not get in between and approach (usually) the matriarchial head in some family units. The social worker and teacher have to be aware that setting goals will not motivate a lower class person to change behaviors.
It is a matter of knowing how a system works.
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