If that's middle class, what's lower class, Mittens?

[CountDeMoney]

Romney: 'Middle-income' is $200K to $250K and less

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 Friday as income of $200,000 to $250,000 a year and less.

The definition of "middle income" or the "middle class" is politically charged as Romney and President Barack Obama fight to win over working-class voters. Romney would be among the wealthiest presidents, if elected, and Democrats have repeatedly painted him as out of touch with average people.

Obama also has set his definition for "middle class" as families with income of up to $250,000 a year.

Romney's comments came an interview broadcast Friday on ABC's "Good Morning America."

"No one can say my plan is going to raise taxes on middle-income people, because principle number one is (to) keep the burden down on middle-income taxpayers," Romney told host George Stephanopoulos.

"Is $100,000 middle income?" Stephanopoulos asked.

"No, middle income is $200,000 to $250,000 and less," Romney responded.

His campaign later clarified that Romney was referencing household income, not individual income.

The Census Bureau reported this week that the median household income — the midpoint for the nation — is just over $50,000.

Obama wants to extend Bush-era tax cuts for those making less than $250,000, while Romney wants to extend the tax cuts for everyone.

Romney has not explained how he would keep his plan from growing the nation's deficit.

[Valmy]

Romney has not explained how he would keep his plan from growing the nation's deficit.

He will cut the fat!!!111

[DGuller]

And waste, fraud, and abuse.

[garbon]

So yahoo has a similar article but:

In an interview that aired Friday morning, Republican presidential nominee Mitt Romney told "Good Morning America" that the definition of middle income in America is "$200,000 to $250,000 or less."

Romney's answer is a bit confusing, because 200,000 is included in the universe of numbers less than 250,000. If you take the statement at face value, however, it appears that Romney is using the same upper limit as President Barack Obama when it comes to middle-income earners. Obama's proposed tax hike for the richest Americans begins with taxable income over $250,000.

Because of Romney's wording, some interpreted the statement as saying the middle-income range begins at $200,000, touching off the usual hand-wringing over Romney being out of touch with the non-wealthy.

Early versions of an Associated Press article stated: "The Republican presidential nominee defined ['middle income'] as income of $200,000 to $250,000 a year," an assertion some newspapers put in the headline. A later version of the same article, however, include the "or less" wording. It is common for AP stories to be updated several times.

The median household income in the United States in 2011 was $50,054, down from inflation-adjusted figures of $54,489 in 2007 and nearly $55,000 in 1999.

The later version of the AP story also stated that the "campaign later clarified that Romney was referencing household income, not individual income," which appears to be irrelevant as the median figure is still about 25 percent of $200,000. And for most Americans, exactly where the upper limit is drawn is irrelevant so long as they're below it.

[CountDeMoney]

I'm not concerned as much as how he defines middle income, since it's an alien concept to him and other multimillionaires anyway.

But as he said "$200,000 to $250,000 or less", does that mean there's no lower class, then?  Or if there is, is he bunching it together with middle class? 

Is he defining class in two categories: the rich and the rest of us?

[garbon]

The yahoo comments were also fun:

People earning $100,000 a year are in the top 10% of all earners. There is no way you can call this middle class.

If most households have to live at $54,000 per year then that is what our politicians need to live with for an income - that is all elected officials both dems and repubs. We the people need to pass a referendum ( a law past by popular citizen vote) because the politicians will not.

[Kleves]

Obama also has set his definition for "middle class" as families with income of up to $250,000 a year.

If that's middle class, what's lower class, Obama?

[garbon]

I'm not concerned as much as how he defines middle income, since it's an alien concept to him and other multimillionaires anyway.

But as he said "$200,000 to $250,000 or less", does that mean there's no lower class, then?  Or if there is, is he bunching it together with middle class? 

Is he defining class in two categories: the rich and the rest of us?

Really?

[garbon]

Obama also has set his definition for "middle class" as families with income of up to $250,000 a year.

If that's middle class, what's lower class, Obama?

I'd think that 250k isn't upper class.

[Valmy]

Frankly if I was a partisan I would want the other party to win.  The whole system is headed for a train wreck and it is safer to be able to sit there blaming the other guy the whole time.

[garbon]

Frankly if I was a partisan I would want the other party to win.  The whole system is headed for a train wreck and it is safer to be able to sit there blaming the other guy the whole time.

I kinda feel like that's what we were saying in '08.

[CountDeMoney]

I'm not concerned as much as how he defines middle income, since it's an alien concept to him and other multimillionaires anyway.

But as he said "$200,000 to $250,000 or less", does that mean there's no lower class, then?  Or if there is, is he bunching it together with middle class? 

Is he defining class in two categories: the rich and the rest of us?

Really?

Don't answer a question with another fucking question.  That's Yi's gig.

[CountDeMoney]

Obama also has set his definition for "middle class" as families with income of up to $250,000 a year.

If that's middle class, what's lower class, Obama?

I'd think that 250k isn't upper class.

Of course not.  You've lived in San Fransisco and NYC.  That's barely enough to get by.

[garbon]

I'm not concerned as much as how he defines middle income, since it's an alien concept to him and other multimillionaires anyway.

But as he said "$200,000 to $250,000 or less", does that mean there's no lower class, then?  Or if there is, is he bunching it together with middle class? 

Is he defining class in two categories: the rich and the rest of us?

Really?

Don't answer a question with another fucking question.  That's Yi's gig.

That was a really of - are you that desperate for something to bash Romney with that such is the issue of contention?

[CountDeMoney]

That was a really of - are you that desperate for something to bash Romney with that such is the issue of contention?

I'd like to know how the man thinks regarding the definition of economic classes.  I think I already know, but I'd like to see him expound on the concept.