Romney says middle income between $200K and $250K
Last edited Fri Sep 14, 2012, 02:21 PM - Edit history (2)
Source: Huffington Post
BOSTON Mitt Romney is promising to reduce taxes on middle-income Americans.
But how does he define "middle-income"? The Republican presidential nominee defined it as income of $200,000 to $250,000 a year.
Romney commented during an interview broadcast Friday on ABC's "Good Morning America."
The Census Bureau reported this week that the median household income the midpoint for the nation is just over $50,000.
The definition of "middle income" or the "middle class" is politically charged. Both presidential candidates are fighting to win over working-class voters.
President Barack Obama has defined "middle class" as income up to $250,000 a year.
Obama wants to extend Bush-era tax cuts for those making less than $250,000. Romney wants to extend the tax cuts for everyone.
Read more: http://www.huffingtonpost.com/huff-wires/20120914/us-romney/
It is important to note that Obama, a while back, actually said he thought middle class was up to $250k. I remember President Obama got some flack back then, but at least he said 'up to', meaning something like 40k-250k, which is mostly correct. Romney however says it is between 200-250k and less, which is not much different, but it will be heard differently by the public... basically as another 'out of touch' comment.
Romney just had the great misfortune of announcing his definition right smack in the final stretch election cycle.
Here are some older #'s, I think these are from 2007, which would probably be about the same today considering the recession and growth rates, etc.
The way the new york times defines it.
Here's one possible way of defining it (by percentiles):
Bottom 20% lower class: $0-18,500
lower middle class: $18,500-$34,738
middle class: $34,738-$55,331
upper middle class: $55,331-$88,030
upper class: $88,030+
noting that richest 5% make anything over $157,176
if someone has more current #'s please post - Thanks
dotymed
(5,610 posts)qanda
(10,422 posts)What a doofus!
goclark
(30,404 posts)Out of touch!
heaven05
(18,124 posts)vlyons
(10,252 posts)and that he makes about $20M/yr on investments, I'm surprised that he doesn't think that $10M/yr is median income. Now we know why he recommends that middle class kids just get their college loans from their parents.
drm604
(16,230 posts)jsr
(7,712 posts)Quantess
(27,630 posts)That is meager living by Romney standards.
Poor dears. How do they get by?
Seriously though, I doubt Romney cares all that much about giving them a break, because they are not quite rich enough. You have to make a lot more money than that to get on Romney's tax-cut gravy train.
Roland99
(53,342 posts)and I'm about to be earning nearly 6 digits in a couple of weeks.
What a dumbass!
april
(1,148 posts)4th law of robotics
(6,801 posts)I don't know. Just spit-balling.
daleo
(21,317 posts)If the mean family income was 250000, the per capita GDP would be north of 100 grand or so. I think it is more like 40000. That is just a rough ballpark estimate.
diabeticman
(3,121 posts)This guy can't even imagine what "REAL" middle class family goes through. I would love to take Romney and Queen Ann to an average home give them $60,000.00 and tell them live on this for a year. They probably couldn't do it. They wouldn't have the mental tools to handle it.
olegramps
(8,200 posts)lobodons
(1,290 posts)Well fine then. According to Romney's own definition of Middle Class, Obama wants to give 100% of Middle Class a Tax Cut and will only Tax the "Upper Class" on revenue over $250k (Even they will not be taxed on their first 250K)
tandot
(6,671 posts)Our income is way, way below that.
bigworld
(1,807 posts)Romney does a great job for our side all by himself!
DemKittyNC
(743 posts)I just went out to get the mail and all that was in there was two brochures from Rmoney/Lyin stating how Obama lied about taking care of our military and troops and gave a huge list of 'lies' that Obama has supposedly told. I couldn't even read the whole list it was nauseating. Nothing on the brochures about how they will make things better at all. God I hate these bastards!
Douglas Carpenter
(20,226 posts)Roland99
(53,342 posts)DippyDem
(659 posts)bamacrat
(3,867 posts)If so damn. Upper class!!! My wife and I combined make between $110-$120K/year, but I would hardly define us as upper class. RMoney is so out of touch with real people. It saddens me that families have to struggle to get by and work their ass off but some people do nothing but rake in tons of money for nothing.
TexasBushwhacker
(20,214 posts)but I know that your standard of living can be vastly different depending on where you live. Make $120K in Houston and you'll be quite comfortable. Make $120K in Manhattan and you'll be living in a 2 bedroom apartment.
KANTANA
(32 posts)It must be really hard for Mitt to understand that there are people who make less than $200,000 a year. He has never known any such people all his life. I completely understand where Mitt is coming from and I am sympathetic.
Arugula Latte
(50,566 posts)LibertyLover
(4,788 posts)shivering in their shoes anytime Mitt the Lackwit opens his mouth. I hope that this information gets spread far and wide. What an idiot.
Arugula Latte
(50,566 posts)sarcasmo
(23,968 posts)mojo2012
(290 posts)So what does Romney say where people fall if their income is less than $200,000? Poor? Poverty?
Since Romney is fortunate to be able to spend that much every week or month, he has no sense about the average family income. We are no more important than his landscapers, housekeepers, or chefs. We are just ignorant, unedcuated, and simply just not in his league or part of the elite circle
Tx4obama
(36,974 posts)tjl148
(185 posts)"It is important to note that Obama, a while back, actually said he thought middle class was up to $250k. I remember President Obama got some flack back then, but at least he said 'up to', meaning something like 40k-250k, which is mostly correct. Romney however says it is between 200-250k and less, which is not much different...."
So according to this article there is "not much" difference between Obama and Romney on the number. Move along, there is nothing to see here.
harmonicon
(12,008 posts)Median income is rarely middle class. The fact that a vast percentage of the poor and working class in the US are convinced that they are middle class is the greatest victory the wealthy elite could ever win.
If you've got one million people who make a dollar a day, one guy who makes a million dollars a day, and another who makes two dollars a day does not mean that the guy making two dollars a day is middle class.