FORT WAYNE, Ind. (Indiana’s NewsCenter) - The debate in Washington over extending the Bush Tax Cuts has left some to question where to draw the line on who is the “middle class.”
While the numbers vary, some economists feel that as many as 66 percent of households in American qualify as “middle class.”
While lawmakers may extend the tax cuts to everyone, the $250,000 mark has been established to try to separate groups, but some households may not consider that number when they define themselves.
IPFW Economic Professor Dr. Michael Wolf says, “The middle class people themselves, subjectively kind of identify with the middle class, even if they're lower than that and obviously higher than that, so income range to try and define it and what people think they are, are 2 different things.”
Complicating the debate is that many smaller corporations and self-owned businesses are above the $250,000 threshold.
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