BoatBanter.com - View Single Post - I will pay more in federal income taxes this year than ExxonMobil

jps

On Fri, 09 Apr 2010 13:53:42 -0400, wrote:

On Fri, 09 Apr 2010 10:22:05 -0700, jps wrote:

the middle owners are paying little of the tax bill. When people making
$50k pay zero $ and a person like Greg with no mortgage deduction pays about
10%, there is little soak the middle lower earners.

The bottom wrung of the middle class is now $100K+ if you're living in
any of the top 25 cities for housing cost.

So this is Lake Wobegone where everyone is above average?

The average household income is $52,029 according to the Census
Bureau (2008)

How is the "middle" twice the average?

1. There's a lot of folks who don't live in the top 25 cities for
housing cost.

2. Middle class doesn't mean "average." The average in Mexico is dirt
poor. They don't have a middle class.

3a. Middle class is defined by the availability of disposable income.
$50K doesn't leave a lot of room for disposable cash unless your house
and cars are paid for and you have no kids at home.

3b. Having to eat beans and rice everyday and live in a hovel in order
to have disposable income doesn't make you middle class.