What is the Middle Class Income?

That is a lot of money, I suggest less than half that, in the UK.
The average wage in UK is about £23k
$37k
 
That is a lot of money, I suggest less than half that, in the UK.
The average wage in UK is about £23k
$37k
That is the point. Romney is off his rocker. Maybe that is "upper" middle class (maybe), but people that make 200,000 or so aren't having any daily struggles as the "middle class" sometimes do. (If they are struggling they are living outside of their means and they walked into it with open eyes).
 
That is the point. Romney is off his rocker. Maybe that is "upper" middle class (maybe), but people that make 200,000 or so aren't having any daily struggles as the "middle class" sometimes do. (If they are struggling they are living outside of their means and they walked into it with open eyes).
Obama said he wouldn't increase taxes on the "middle Class", but his proposed tax increases start @ those making 250,000. So Romney is pointing out Obama's definition of "High Income"
 
Obama said he wouldn't increase taxes on the "middle Class", but his proposed tax increases start @ those making 250,000. So Romney is pointing out Obama's definition of "High Income"

I don't know what rainbow you are living under, yes, it is 'high income.' I say good for Obama. If one is making 250,000+, one doesn't need a break. I am NOT saying be unfair, but judging a 20,000 income and a 200,000 as somehow 'equal' IS being unfair.
 
I don't know what rainbow you are living under, yes, it is 'high income.' I say good for Obama. If one is making 250,000+, one doesn't need a break. I am NOT saying be unfair, but judging a 20,000 income and a 200,000 as somehow 'equal' IS being unfair.
Who said they were equal? 20K is obviously the working poor, but what is "Middle Class" & what is "Rich"? A family of 4 making 250K can live well in the South, not so well in Cal. & New England. It should also be noted that many small business owners have income of thier business show up as personal income, doesn't take long to go well north of 250K under that condition, though it isn't in his bank account. And...how do you know they don't need a break?
 
Drawbacks of the Income Tax.

What rate are you US guys taxed at?

We're taxed at 20% for earnings up to £34k ($55k?), taxed 40% on earnings between £34k ($55k?) and £150k ($243k?), and 50% on earnings over £150k ($243k?)
 
What rate are you US guys taxed at?

We're taxed at 20% for earnings up to £34k ($55k?), taxed 40% on earnings between £34k ($55k?) and £150k ($243k?), and 50% on earnings over £150k ($243k?)
.............Family..............Single
10%...up to 17,400.......up to 8,700
15%.... 70,700.....35,350
25%....142,000....86,650
28%....217,450.....178,650
33%...388,350...388,350
35%...above 388,350
 
.............Family..............Single
10%...up to 17,400.......up to 8,700
15%.... 70,700.....35,350
25%....142,000....86,650
28%....217,450.....178,650
33%...388,350...388,350
35%...above 388,350

You guys pay a lot less tax than us!! :(
 
There's over taxed & really over taxed!

But aren't those numbers just the Federal tax rate then there is state and city/sales etc?

It has been years since I paid tax there so I may also be wrong but I do recall it being the most confusing tax system I have ever run into.
 
But aren't those numbers just the Federal tax rate then there is state and city/sales etc?

It has been years since I paid tax there so I may also be wrong but I do recall it being the most confusing tax system I have ever run into.
Yes, that's just the Federal Income Tax burden. I think 46 of 50 States have State income tax & some Cities also have income tax. Not to mention property tax, sales tax & other taxes imposed by the Federal, State, County & City Govt, School Boards, Ect. Taxpayers pay all taxes, including all business taxes that are passed on as part of the price.
 
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