Quote:
Originally posted by wonderwench
That depends upon the geography. Take the major metro areas - and $200K is middle class (ie, the combined income of a marketing director and a nurse). Factor in the continuation of the marriage penalty, the alternative minimum tax, and lack of real indexing for inflation - and within a few years, more and more middle class people will creep into the higher tax brackets.
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the alternative minimum tax is a problem in need of solving, and I did not know that the tax brackets weren't indexed to inflation (which is just common sense). But there is no way you will sell me on a married couple making 200K a year as being middle class. Even in a metropolitan area, with increased housing and living expenses, still puts them smack dab in UPPER middle class. Besides, if this couple has to pay another 4-5 grand in income taxes, I don't really have a problem that, and neither should they - one less vacation overseas subsidizing some other countries' economy, and one more here at home.