American Middle Class earns less than $250 K
The Economic Policy Institute released a telling graph this week on the distribution of tax filers by adjusted gross income. The finding is that over 87 percent of taxpayers make less than $100,000 in adjusted gross income. Furthermore, those earning just under a million make nearly 20 times the average household. Definitions of middle-class may certainly vary but this data confirms that reasonable definitions certainly would find the upward bound is below $250,000 a year. This will be important as debate continues in earnest on the Bush tax breaks and their impact on the middle-class.