What pray tell is the "Middle Class" of the tax cuts?

JanMichael

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Fri Sep-24-04 11:31 PM
Original message

What pray tell is the "Middle Class" of the tax cuts?

I see comment after comment on this tax cut extension for the "Middle Class" but not one gives the income breakdown by household or the actual cuts.

It's late so cut me some slack for my failing memory...

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JanMichael

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Fri Sep-24-04 11:38 PM
Response to Original message

1. Does this thread exist? I had an error notice when I tried to post.

Now it doesn't show up on the "my posts" feature.

Just checking:-)

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Cleita

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Fri Sep-24-04 11:43 PM
Response to Original message

2. I get the post.

I don't understand what you are saying about Middle Class tax cuts.
Isn't everyone being robbed to death with taxes they get no benefit from?

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JanMichael

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Fri Sep-24-04 11:44 PM
Response to Reply #2

3. I'm wondering what they mean by "Middle Class".

Quantify the term, that's all.

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Cleita

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Fri Sep-24-04 11:53 PM
Response to Reply #3

4. I agree.

Middle class used to mean you owned a home and a car and a savings account. You could take care of your kids. I think we are being shoved into an inflation they aren't really being truthful about right now.

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JanMichael

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Fri Sep-24-04 11:55 PM
Response to Reply #4

7. But what are the income levels that they're refering too?

It's late, my wonderful spouse is asleep, I'm done. No research capabilities left, just unanswered questions...

Good night:-)

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Cleita

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Sat Sep-25-04 12:00 AM
Response to Reply #7

9. Weimar Republic. pre-Hitler.

Inflation got so bad it wiped out a lot of debts, but it also wiped out the middle class's savings.

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flaminbats

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Sat Sep-25-04 12:19 AM
Response to Reply #3

11. Republicans really meant second class..

Edited on Sat Sep-25-04 12:20 AM by flaminbats

only first class is eligible for their tax cuts!

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JanMichael

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Fri Sep-24-04 11:54 PM
Response to Reply #2

5. You mean Medicare, SS, Higways and such do you no good?

What about sewers, running water, sidewalks and public schools (Etcetera...)?

No benefit?

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Cleita

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Sat Sep-25-04 12:11 AM
Response to Reply #5

10. Soon to be gone benefits.

I am talking about federal taxes. The stuff you speak of is municipal mostly. I had a bad day. Now I must go to bed.

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TahitiNut

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Fri Sep-24-04 11:54 PM
Response to Original message

6. It's not defined.

Edited on Sat Sep-25-04 12:17 AM by TahitiNut

Generally, I take it to mean the middle three quintiles of income.

If we go by marginal tax rates, I dunno. In 2003

Rate Percent
0 19.8 percent of returns paid a top marginal rate of 0%
10 20.3 percent of returns paid a top marginal rate of 10%
15 37.0 percent of returns paid a top marginal rate of 15%
25 17.9 percent of returns paid a top marginal rate of 25%
28 3.0 percent of returns paid a top marginal rate of 28%
33 1.2 percent of returns paid a top marginal rate of 33%
35 0.8 percent of returns paid a top marginal rate of 35%

From that, I'd call 'middle class' income between $28,400 and $143,500.

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ElsewheresDaughter

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Fri Sep-24-04 11:59 PM
Response to Original message

8. $50K to $150K middle class......my $0.02

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