Romney says middle income between $200K and $250K

Source: Huffington Post

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

Romney commented during an interview broadcast Friday on ABC's "Good Morning America."

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

The definition of "middle income" or the "middle class" is politically charged. Both presidential candidates are fighting to win over working-class voters.

President Barack Obama has defined "middle class" as income up to $250,000 a year.

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


Read more: http://www.huffingtonpost.com/huff-wires/20120914/us-romney/

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It is important to note that Obama, a while back, actually said he thought middle class was up to $250k. I remember President Obama got some flack back then, but at least he said 'up to', meaning something like 40k-250k, which is mostly correct. Romney however says it is between 200-250k and less, which is not much different, but it will be heard differently by the public... basically as another 'out of touch' comment.

Romney just had the great misfortune of announcing his definition right smack in the final stretch election cycle.

Here are some older #'s, I think these are from 2007, which would probably be about the same today considering the recession and growth rates, etc.

The way the new york times defines it.
Here's one possible way of defining it (by percentiles):
Bottom 20% lower class: $0-18,500
lower middle class: $18,500-$34,738
middle class: $34,738-$55,331
upper middle class: $55,331-$88,030
upper class: $88,030+
noting that richest 5% make anything over $157,176

if someone has more current #'s please post - Thanks