How rich is rich?

This post was written by marc on July 26, 2010
Posted Under: Letters to the Editor

Letter to the Editor

A lot of politicians are talking about extending the Bush tax cuts claiming the it would raise taxes in the “middle class”. However the news media is trying to redife middle class to include people making $200,000 a year. Is $200,000 a year middle class? I don’t think so.

The average American family income is $46,326 a year. Someone making $200,000 make more that 4 times average. That seems rich to me. They are also in the top 3% on the income scale. That’s on the rich end. In my view if you are in the top 15% that would be rich. So $100,000 a year in my opinion is a rich person.

So I really resent the news media’s assertion that we should extend the Bush tax cuts because it raises taxes on the middle class because it’s just plain false. The Bush tax cuts were for the rich and the rest of us are having to pay for it because it was and continues to be paid for with borrowed money. And borrowing money for the rich to be paid for by the poor is just plain wrong.
Reference on my numbers:

http://www.mybudget360.com/how-much-does-the-average-american-make-breaking-down-the-us-household-income-numbers/

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