Derek Thompson weighs in on Mitt Romney's statement to George Stephanopoulos's question to him on ABC's "Good Morning, America" "No, middle income is $200,000 to $250,000 and less."Who knows what "middle class" really means. It's more of a feeling than a statistical definition. But as a matter of arithmetic, it doesn't make much sense to think of people earning $200,000 as being in the middle of anything, except the top decile of earners. Using data from the Tax Policy Center 2012 projected distribution, here's a look at the share of American tax units that make less than $200,000. The big blue slice is Romney's definition of middle class, which in all fairness to him, is more or less shared by the White House.
There are lots of ways to measure household income, like market income before taxes or total income after taxes and government transfers, and so on. It doesn't make much of a difference. If you make $200,000, you are, essentially, the 5%. A $200,000 salary will go a lot further in North Dakota than in Manhattan, of course, but it doesn't change the overall distribution.
High Impact Posts. Top Comments.
No comments:
Post a Comment