Economic Class Warfare?

Mitt Romney, one of the two palatable Republican candidates by my reckoning, called himself part of the middle class the other day. I find the comment a bit out of touch. As a pastor, folk knew my economic class as it was voted on by the congregation each year. For most others it is a mystery. But if you are interested in where you fall by today’s categories, here they are:

  Poor – (lowest 20%) earns less than $17,000

  Lower Middle Class – (20-40%) earns between $17,000 & $32,000

  Middle Class – (40-60%) Earns between $33,000 and $57,000

  Upper Middle Class – (60-80%) earns between 58,000 and 97,000

  Rich (above 80%) earns more the $98,000

  Stinking rich (top 1%) earns more than $500,000

Thus the median income of the country is $43,000.

I hear folk arguing for a flat tax, everyone paying the same rate, as being a fair tax, in contrast to our current progressive tax, the more you make the more you are taxed, though this has been radically changed since the Regan era. If you are in the lower class or lower middle class there is not much of your income that is not required just to live; even the middle class finds it difficult. A flat tax in their case is really a regressive tax and punishes lower income earners.

Bear that in mind when you hear the rich and the stinking rich complain about class warfare, it exists alright but they are not the victims.