Reader comment on: Bloomberg on Bush Tax Cuts
Submitted by J.Johnson (United States), Jul 13, 2010 12:46
Census data puts family incomes of $250,000 in the upper 1.5 - 2% of all family incomes, based on nationwide info. This would seem to make them "wealthier Americans" and "high-income people" and possibly, though a bit of a stretch, "the most prosperous Americans," unless you live in a few of the highly expensive cities. The weaknesses in this sort of thinking are that it equates income with net worth and it ignores fluctuations in individual's income over time. Doesn't kindly uncle Warren Buffet still claim to pay himself only $100K a year? Bloomberg wouldn't call him wealthy, I guess.
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