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View Poll Results: What is an average middle class income?
$200K-$250K 1 2.22%
$150K-$200K 0 0%
$125K-$150K 3 6.67%
$100K-$150K 3 6.67%
$75K-$100K 11 24.44%
$50K-$100K 27 60.00%
More than $300K 0 0%
Voters: 45. You may not vote on this poll

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Old 09-14-2012, 05:30 PM  
BigRedChief BigRedChief is offline
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Romey says an average middle class income is $200,000 - $250,000 true or not?

http://abcnews.go.com/blogs/politics...d-mitt-romney/

GEORGE STEPHANOPOULOS: You know Democrats are going to be wanting to get much more detail from you on how youíre going to pay for your tax cuts. Weíve heard that at the Democratic Convention. President Clinton said your math doesnít work. I know you dispute what President Clinton said and what the Democrats that say that youíre going to have a $2,000 tax hike on middleclass families. I know you dispute that. You cite your own studies. But one of the studies you cite by Martin Feldstein at Harvard shows that to make your math work, it could work, if you eliminate the home mortgage, charity, and state and local tax deductions for everyone earning over $100,000. Is that what you propose?

MITT ROMNEY: No, thatís not what I propose. And, of course, part of my plan is to stimulate economic growth. The biggest source of getting the country to a balanced budget is not by raising taxes or by cutting spending. Itís by encouraging the growth of the economy. So my tax plan is to encourage investment in growth in America, more jobs, that means more people paying taxes. So thatís a big component of what allows us to get to a balanced budget.

GEORGE STEPHANOPOULOS: But his study, which youíve cited, says it can only work if you take away those deductions for everyone earning more than $100,000.

MITT ROMNEY: Well, it doesnít necessarily show the same growth that weíre anticipating. And I havenít seen his precise study. But I can tell you that we can lower our ratesĖ

GEORGE STEPHANOPOULOS: Well, you cited the study, though.

MITT ROMNEY: Well, I said that there are five different studies that point out that we can get to a balanced budget without raising taxes on middle income people. Let me tell you, George, the fundamentals of my tax policy are these. Number one, reduce tax burdens on middle-income people. So no one can say my plan is going to raise taxes on middle-income people, because principle number one is keep the burden down on middle-income taxpayers.

GEORGE STEPHANOPOULOS: Is $100,000 middle income?

MITT ROMNEY: No, middle income is $200,000 to $250,000 and less. So number one, donít reduceĖ or excuse me, donít raise taxes on middle-income people, lower them. Number two, donít reduce the share of taxes paid by the wealthiest. The top 5% will still pay the same share of taxes they pay today. Thatís 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.
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Old 09-14-2012, 10:36 PM   #91
DaneMcCloud DaneMcCloud is offline
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WAIT A SEC? Are these crackhead strippers? Are they hot? Let's not be hasty!
I always preferred the 420 strippers over coked out strippers.

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Old 09-14-2012, 10:38 PM   #92
DaneMcCloud DaneMcCloud is offline
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exactly. only the extreme rich or extreme poor consider themselves to be so. EVeryone else "thinks" they are middle class (for the most part)

If they are all right then we have a huge middle class in the US!
I think that we DO have a huge Middle Class in the U.S. but when it comes to taxation, which is really the issue at hand, where does that number begin and end?
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Old 09-14-2012, 10:40 PM   #93
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My guess would probably be way off considering I live in Springfield, MO.. I have no idea how much more I would have to make in California or New York to enjoy the same type of disposable income.
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Old 09-14-2012, 10:41 PM   #94
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Originally Posted by DaneMcCloud View Post
I always preferred the 420 strippers over coked out strippers.

Let's compromise.. how about four hundred and twenty coked out strippers! I'm all about reaching for that middle ground compromise!
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Old 09-14-2012, 10:45 PM   #95
DaneMcCloud DaneMcCloud is offline
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So what is the magic number for a family of 4 to "live large" in LA? A nice neighborhood in any major metro area.
Just as a quick follow up, I'd say that to "Live Large" in Los Angeles, you have pull a minimum of $1 million per household.

At that point, you're talking about a $3-$4 million dollar house in the hills with a view or in Pac Palisades, Manhattan Beach, Malibu, etc. driving a Bentley, Ferrari, Lambo, etc.

If you're talking living in a modest home, private school over public, a couple of $30k or so cars, a little savings, etc., you're probably looking at $250k.

Keep in mind, housing is three to four times as expensive here as it is in a city like KC. Where most KC areas are about $100 a square foot, minimum in a nice Los Angeles neighborhood or suburb is about $350 a square foot. In a city like those I mentioned above or even Santa Monica, you're looking at $1,000 a square foot for starters.

When you couple those prices with the mandatory 20% down for a loan, it becomes incredibly difficult for those earning less to have enough to save for a down payment, especially with rentals at an all time high.

If I were to put my home up for rent, I could easily get three times my mortgage in monthly payment. Four times as much if I don't include $1,000 per month in property taxes.
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Old 09-14-2012, 10:45 PM   #96
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Let's compromise.. how about four hundred and twenty coked out strippers! I'm all about reaching for that middle ground compromise!
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Old 09-14-2012, 10:50 PM   #97
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250k and below is a good number for middle class across the country. 50k to 250k would be about average in this country I would imagine in household income.
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Old 09-14-2012, 11:39 PM   #98
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Quote:
Originally Posted by AustinChief View Post
And to make this assertion shows a complete lack of understanding of sociology and psychology and lexicography(?).

You are trying to equate the term and it's accepted use and meaning to individuals with the actual math. Don't. No one else thinks of the term that way. The term "middle class" has a meaning in American culture that has almost ZERO to do with the actual numbers. Saying otherwise is simply wrong. You can however say what it "should" mean... but again, since you'll be hard pressed to find people who see it that way, you're on your own.
Do you have evidence that supports such an assertion? Where are you looking to find the "accepted use?"

Claiming that "no one" else thinks of it that way is a lie.
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Old 09-14-2012, 11:39 PM   #99
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250k and below is a good number for middle class across the country. 50k to 250k would be about average in this country I would imagine in household income.
That is a huge disparity. 50k to 250k? I don't see those people being in remotely the same financial situation unless the cost of living where the 250 k folk live in is damned high.
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Old 09-14-2012, 11:42 PM   #100
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Not true. But you have certainly become one.
Ahhhh, the famed "I know you are but what am I" defense.
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Old 09-14-2012, 11:48 PM   #101
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Originally Posted by Pitt Gorilla View Post
Do you have evidence that supports such an assertion? Where are you looking to find the "accepted use?"

Claiming that "no one" else thinks of it that way is a lie.
Well, this thread is pretty much proof of the disconnect between the term and the math. Also there are plenty of studies that have shown exactly what this thread shows. Feel free to google it. I am pretty sure almost everyone else here is on the same page as me on this one.

I agree that it SHOULD have a quantifiable meaning, but it simply doesn't. It's a loose, subjective and almost useless term these days (at least how it is bandied about by politicians and the media).
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Old 09-15-2012, 12:28 AM   #102
DaneMcCloud DaneMcCloud is offline
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Ahhhh, the famed "I know you are but what am I" defense.
Well, that's what happens when you deal with a guy named "Brainiac".

He's a Big Thinker.
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Old 09-15-2012, 12:54 AM   #103
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Does "middle" mean "average"?
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Old 09-15-2012, 01:03 AM   #104
DaneMcCloud DaneMcCloud is offline
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Does "middle" mean "average"?
With all due respect, it's a pretty easy question:

Where do you draw the line at the Middle Class?

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Old 09-15-2012, 01:20 AM   #105
Comrade Crapski Comrade Crapski is offline
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With all due respect, it's a pretty easy question:

Where do you draw the line at the Middle Class?

I can't do that without somebody showing the formula they used to determine what "middle class" is.

Or is it just an arbitrary term being used to agitate class warfare?
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