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Originally Posted by statdoc
Yeah, hard for me to consider this more than pandering to the lower and lower-middle class.
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According to the US Census Bureau, the 95th percentile of American Households earned $157,176 in 2005 (the last year for which statistics were available), while the 80th percentile earned $88,030. That means 95% of American households earned less than $157k, and 80% of American households earned less than $88k.
Apparently you think that 95% of Americans are "lower and lower-middle class". How interesting that you think that, because in many of our other conversations, you have expressed the opinion that most American households are middle class and not poor.
Well, according to the Census Bureau, the 50th percentile of American Households earned $34,738 in 2005. That is your "average". That is the "middle class" in America.
By definition, I think we can all agree that the richest 5% of the people in the richest country in the world, are indeed "rich".
Congress is not pandering to the "lower and lower-middle class". They are pandering to all Americans but the richest 5%.