Today’s discussion at work has been focused on the “fiscal cliff” vote. In three separate conversations, I asked a simple question… who are the middle class? No one had a concrete answer. Ironically, most people think they are in the middle class, but no one has been able to define it. However, every politician claims to be for the middle class. I have to ask, is the middle class something real or just made up for political purposes? When I returned to my office, it got me to thinking so I did some research; see if you agree.
What is the salary of the President of the United States? Answer: $400,000 USD*
*Ironically, this is also the same income threshold used to raise taxes [from 35% to 39.6%] on the “wealthiest” [aka upper class] individual Americans; $450,000 for couples.
What is considered the poverty line in America for family of 4 of which 2 of the four person household are children under the age of 18? How about an individual under age 65?
Answer: $22,811 USD** for four and $11,702 USD** for individual under age 65
Based on the new law that was just passed and today's research:
Upper Class: $400K+
Individual Middle Class: $11,702 - $399,999.99
Individual Lower Class: $ < $11,702
What is the base salary of members of congress? Answer: $174,000 USD
Conclusion: Congress is indeed helping the middle class not to mention... themselves. Anyone else feel this way?