Democratic Party partisans are attacking Mitt Romney today for saying that “middle income is $200,000 to $250,000 and less.” Rightly so, for those earning $200,000 and more constitute only 4% of the US population, those earning over $150,000 only 9%, and the median income is just over $50,000. The super-rich Great Mittsby is obviously living in a money-fuelled bubble and completely out of touch with the common people, let alone the plight of those in the bottom 25% earning less than $25,000 a year.
The only trouble with the Dem outrage, though, is that Obama too has called earnings of $200,000 and less “middle-class”. Obama’s worth an estimated $6 million – not anywhere near the Romney-Kerry scale of rich but not exactly hurting. Jamelle Bouie gets it exactly right.
Of course, it makes sense that politicans would see ”œmiddle-class” as extending to people who make ”œ$200,000 to $250,000.” Lawmakers are far wealthier than the people they represent. The typical Democrat in Congress has a net worth of $878,500. The typical Republican? $957,500. Averaged, that’s more than nine times the net worth of most Americans.
In the real world””where only 9.1 percent of households make more than $150,000, and median income for all Americans is $50,054”””œ$200,000 to $250,000” places you at the top of the pyramid. That our politicians believe otherwise is a sign of their isolation from everyone but the well-off.
Yeah – this.