The shrinking middle class

Matthew Hoy
By Matthew Hoy on October 31, 2008

I'm not referring to the commonly held notion that the number of people in the so-called middle class is shrinking. Instead, I'm referring to the fact that the definition of people who will be getting a middle class tax cut from an Obama administration is shrinking.

Originally Sen. Barack Obama assured the American people that if you make less than $250,000 you'll be getting a tax cut.

Then, in some stump speeches, the number miraculously changed to $200,000.

Nobel Prize winning columnist Paul Krugman revealed that the Bush tax cuts would be rolled back (i.e. taxes raised) on the top to quintiles of taxpayers -- which is tragically those making $182,500 or more.

Then Joe the six-term senator started saying that everyone making less than $150,000 a year would get a tax cut.

Now, you've got Obama surrogate Gov. Bill Richardson of New Mexico putting the number at $120,000.

Pretty soon that middle class tax cut promise will go the way of the I'll-take-public-financing-if-the-Republican-candidated-does-too promise.

Don't say you weren't warned.

0 comments on “The shrinking middle class”

  1. The continuous scaling down of the middle class is probably what six-term Joe meant when he said Saint Obama would be tested and would need his supporters to understand and stand by the anointed one. If Obama gets in, the middle class will consist of those families with incomes under $75,000, or maybe anyone with a job, just to keep things simple.

  2. Many people think Obama will stop at Richardson's figure of $120,000. Not true. I expect that amount will go much lower. The plans Obama and his henchmen--those liberal, illuminati social extremists--have will be costly and will hit all of us in the pursestrings. If he becomes President, he'll only have one term because we'll boot his butt out of office, but only after horrific damage to this country.

  3. Remember when Biden was speaking of the upcoming "crisis" that will test Obama and his supporters might no understand Obama's response? My gut reaction was Obama's crisis response will be to raise everyone's taxes.

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