31 October 2008

Defining Middle Class And Rich

When Obama started talking about tax breaks for the middle-class, and tax hikes for the rich, the question of how to define each was posed. Initially, anyone making under $200,000 was going to see the tax cuts. Then Biden said that the tax cuts "should go to middle class people -- people making under $150,000 a year." Now New Mexico Gov. Bill Richardson has lowered the bar a bit more.

"What Obama wants to do is he is basically looking at $120,000 and under among those that are in the middle class, and there is a tax cut for those," Richardson said in the interview, according to a clip posted on YouTube.
Is this the key to the Obama economic plan? Is his administration going to simply lower the income threshold that defines the difference between the middle class and upper class, thus "helping" the middle class by artificially bumping them into the upper class?

The mark that defines the top of the middle class went down from $200,000 to $150,000 to $120,000. Smoke and mirrors; that seems to be the real change that the Obama campaign is offering.


1 comment:

Joe of St. Thérèse said...

what are you talking about/ it's 75k now, lol