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American Middle Class earns less than $250 K

Posted By Alexandra Sirota On June 15, 2012 @ 4:11 pm In NC Budget and Tax Center,Uncategorized | Comments Disabled

The Economic Policy Institute released a telling graph [1] 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.

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URL to article: http://pulse.ncpolicywatch.org/2012/06/15/american-middle-class-earns-less-than-250-k/

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[1] telling graph: http://www.epi.org/publication/households-making-250k-1m-year-not-middle-class/

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