I have been reading about proposed tax cuts for the middle class. I see many definitions and income levels for the middle class.
Middle class seems like kind of a myth but if politicians say they are going to do something to “help” the middle class we all think we are going to benefit because of our middle classness.
Here is a chart that shows wealth distribution in the U.S. It is clear that most of us are not rich, but the middle looks kind of poor, as compared with the wealthy.
1% possess 40% of the nation’s wealth; the bottom 80% own 7%;
Sure the upper 1% works hard and they earned it. Doesn’t a CEO deserve to make 185% more than a worker?
Some have even suggested that the system is rigged. How can that be?
It should be interesting to see how “tax reform” will impact the middle class.