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Romney: 'Middle Income' Is Between $200,000 and $250,000

Mitt RomneyBy STEVE PEOPLES

BOSTON (AP) - Mitt Romney is promising to reduce taxes on middle-income Americans.

But how does he define "middle-income"? The Republican presidential nominee defined it Friday as income of $200,000 to $250,000 a year and less.

The definition of "middle income" or the "middle class" is politically charged as Romney and President Barack Obama fight to win over working-class voters. Romney would be among the wealthiest presidents, if elected, and Democrats have repeatedly painted him as out of touch with average people.

Obama also has set his definition for "middle class" as families with income of up to $250,000 a year.

Romney's comments came an interview broadcast Friday on ABC's "Good Morning America."

"No one can say my plan is going to raise taxes on middle-income people, because principle number one is (to) keep the burden down on middle-income taxpayers," Romney told host George Stephanopoulos.

"Is $100,000 middle income?" Stephanopoulos asked.

"No, middle income is $200,000 to $250,000 and less," Romney responded.

His campaign later clarified that Romney was referencing household income, not individual income.

The Census Bureau reported this week that the median household income - the midpoint for the nation - is just over $50,000.

Obama wants to extend Bush-era tax cuts for those making less than $250,000, while Romney wants to extend the tax cuts for everyone.

Romney has not explained how he would keep his plan from growing the nation's deficit.

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yigal

I don't know where Obama and Romney got their figure on Middle Class' Income. They both make over a Million dollars a year so the figure sounds realistic to them. We know from statistics that the average personal income is about $37,000. annully so even if we combined both spouses' income we still are less than $80,000. per family. Both Obama and Romney are out of touch of reality.
I have a way to tax everybody fairly. We should abolish personal income taxes and switch to sale's taxes. We should divide the sale's tax to 3 group: a. Necessities, b.Semi Luxury and c. Luxury. We should tax a. at 3%, b. at 15% and c. at 50% and higher (This way we got more out of the wealty.In 2010 the wealthy 1 percent earned about 1.3 trillion dollars annually, the rest of the people (99%) earned 9.4 trillion dollars. Income tax from the wealthy was about $300,000,000. and the rest of the population about $940,000,000., or total income taxes from individual earners for 2010 was approximately $1,240,000,000.
Total sales during 2010 were about $14,000,000,000. An average sale tax of 8.8% is needed to equal the amount of government’s income tax collected.
My prediction is that with the above system the average collected tax will be close to 15% or $1,500,000,000 dollars, enough to support the annual budget and reduce the deficit in a very short time.

October 20 2012 at 8:03 PM Report abuse rate up rate down Reply
Joise

Isn't there upper and lower middle class. That would explain a lot then on the difference between the numbers and definitions.

October 16 2012 at 10:13 PM Report abuse +1 rate up rate down Reply
Burberry

Your average income varies by location. It costs a lot of money to live in NYC. I don't think a family of four or six is considered rich if you live in NYC with only 200k. More like upper middle class. Rich is when you can drive a Bentley, wear Prada, Christian Louboutins, Jimmy Choos and not even miss the money. You can't do that if you live in NYC and make only 200k a year with a whole bunch of kids. If you spend your money on that stuff, you will miss the money if you only got a 200k budget to work with and kids to take care of.

September 18 2012 at 10:42 PM Report abuse +1 rate up rate down Reply
sagg1948

Let see if I understand this now. I worked all my f------ life paid all taxes fed and state and just retired in May. So this makes me a freeloadert according to Romney. I never paid into Irs because my wife and I had extra taxes taken out so we could get a refund every year. I now pay taxes on my Social Security and my work pension, while this friggin clueless piece of crap put people on the unemployment line when he was Governor brought and closed business and hides his money in the Islaands. How can anaybody with a consicious support this piece of ****.

September 18 2012 at 11:55 AM Report abuse +2 rate up rate down Reply
1 reply to sagg1948's comment
Patrick Zimmermann

I agree with you completely and I can only imagine that the people who support Romney are very easily fooled. It's just sad. I work like a dog with a college degree and I'm set to retire when I'm approximately 120 years old. If he thinks 250k a year is middle class then I can't even imagine what he'd think of the 40k a year that I use to support a family of 4.

October 18 2012 at 1:22 AM Report abuse rate up rate down Reply
Paul

This has been part of the news here for how many days? They have no other news than to try to make Romney look bad. It is amazing to me how many liberal news sources are out there even amongst financial news sources. Report investment news ... not propoganda.

September 18 2012 at 12:22 AM Report abuse -3 rate up rate down Reply
vlady1000

What I gathered from this is, neither one has a clue and both live in a world that 99% of us will never get to and they do not even realize that. "Dumb and Dumber".....The USA middle class will be gone and so will what made us strong. If Mickey Mouse was running, he would get my vote over these two.

September 17 2012 at 6:37 PM Report abuse +1 rate up rate down Reply
tevroc143

Mitt the Twit has no clue what middle income is in reality. The GOP has nominated the most useless ticket in decades - one a liquidator, the other Medicare destroyer. No foreign affairs experience whatsoever on the GOP ticket is already proving to be a disasteer. Mitt can't say enough stupid stuff in a day to prove he is completely out of his element. Ryan can't say how he feels because it is the opposite of what Mitt says. Both are proving to be out of touch and not electable.

September 17 2012 at 2:26 PM Report abuse +2 rate up rate down Reply
maceandemma

What an out of touch individual.

September 17 2012 at 12:06 PM Report abuse +2 rate up rate down Reply
1 reply to maceandemma's comment
ohmyboehnertwo

Yes,....Mitt Romney is a out of touch individual!

September 18 2012 at 1:49 PM Report abuse +3 rate up rate down Reply
gmydogbud

S-T-O-P ----S-T-O-P------SENDING - OUR - BORROWED - MONEY - TO - COUNTRIES - & PEOPLE - WHO - HATE - US - & - WANT - US - DEAD -!!!!!! THE - AMERICAN - PEOPLE - ARE - SUFFERING - & - NEED - OUR - MONEY - KEPT - HERE - !!! YOU - CANNOT - BUY - FRIENDS - ! ! MORE - THAN - ENOUGH - OF - OUR - YOUNG - MEN - & - WOMEN - HAVE - DIED - AT - THE - HANDS - OF - THESE - PEOPLE - !!

September 17 2012 at 10:23 AM Report abuse +1 rate up rate down Reply
Artie

Dudley Do Right (aka Willard "Mitt" Romney) is like "Mr. Loophole" when it comes to taxes... not to mention that the only reason anyone needs offshore bank accounts is to hide something. I don't trust this guy as far as I could throw him. The only people he'll give a break on taxes are his wealthy pals that don't need anymore breaks. He still hasn't explained how he is going to balance the budget with less tax revenues, either. When it comes to what is best for the middle class and regular working folks, Romney, unfortunately, remains clueless.

September 17 2012 at 9:26 AM Report abuse +6 rate up rate down Reply