Now, she doesn't define the middle class in terms of an income range and obviously these numbers do depend upon that definition. But even with that qualifier, that's eye opening. And it goes to a point I've been making on the air; when President Obama says a majority of America supports his "balanced approach" it makes you wonder how many even understand the issue. Fifty cents on the dollar. Ponder that. Let's take $100,000. Your real gross income is $50,000. Why? Because you NEVER see the other $50,000. It was never really your income at all. And this is how the government gets away with this. People howl about property taxes because they have to pay them in a chunk at the end of the year.
Imagine making $100,000 throughout the year and then owing half of it to various government entities at year's end. How do you think that would go over?