Is the Middle Class Really the Middle Class?

Our friends at the Tax Foundation noticed that the House Ways and Means Committee is going to hold hearings on the challenges facing the “middle class” so Scott Hodge from the Tax Foundation decided to review what the middle class looks like. (link)

Mr. Hodge found that the image of the “middle class,” married couple with 2 children, is not what it once was. This image of “middle class” now falls in the top 40% of wealthy Americans. He concludes that this is primarily due to dual income families and this increase in dual incomes has contributed to the perception of income inequality.

“When the so-called rich are increasingly couples with two incomes, they will naturally look wealthier than the vast number of single taxpayers who now populate the statistical middle.”

Meaning that when Democrats talk about increasing taxes to the wealthy in America they may be talking about you!

“As lawmakers look for solutions to the economic challenges facing today’s “middle-class” but upper-income families, they would do well to consider the way in which taxes–federal and local–are contributing to the problem.”

Advertisements

No comments yet

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: