How does obama define the middle class, lower class, and upper class in his tax breaks?

Question

i can't seem to find how he quantitatively define these words. Does anyone have a link?

Answer 1

The Tax Policy Center did it for the both of them.  See this link for a very easy to read infographic.

http://www.washingtonpost.com/wp-dyn/con...

Answer 2

He would repeal a portion of the tax cuts passed in the last eight years for families making over $250,000. But to be clear: He would leave their tax rates at or below where they were in the 1990s.

- The top two income-tax brackets would return to their 1990s levels of 36% and 39.6% (including the exemption and deduction phase-outs). All other brackets would remain as they are today.

- The top capital-gains rate for families making more than $250,000 would return to 20% -- the lowest rate that existed in the 1990s and the rate President Bush proposed in his 2001 tax cut. A 20% rate is almost a third lower than the rate President Reagan set in 1986.

- The tax rate on dividends would also be 20% for families making more than $250,000, rather than returning to the ordinary income rate. This rate would be 39% lower than the rate President Bush proposed in his 2001 tax cut and would be lower than all but five of the last 92 years we have been taxing dividends.

- The estate tax would be effectively repealed for 99.7% of estates, and retained at a 45% rate for estates valued at over $7 million per couple. This would cut the number of estates covered by the tax by 84% relative to 2000.

Overall, in an Obama administration, the top 1% of households -- people with an average income of $1.6 million per year -- would see their average federal income and payroll tax rate increase from 21% today to 24%, less than the 25% these households would have paid under the tax laws of the late 1990s.

Sen. Obama believes that one of the principal problems facing the economy today is the lack of discretionary income for middle-class wage earners. That's why his plan would not raise any taxes on couples making less than $250,000 a year, nor on any single person with income under $200,000 -- not income taxes, capital gains taxes, dividend or payroll taxes.

http://online.wsj.com/article_print/SB12...

http://www.chicagotribune.com/business/y...

http://origin.barackobama.com/taxes/

Hope that helps. His full tax plan is also there(last link) in pdf, it goes into detail and answers all your questions.

Answer 3

I think that the largest class is the so-called 'Upper-lower Class"

Just below the middle class,

But Democrats classify people like astronomers classify stars,

Answer 4

Well he's stated that he'll raise that taxes of people making 250,000 a year.  So i guess he'll consider 250,000 and up upper class.  But how the h**l are you going to raise the taxes on 2 percent of the population and give the rest of the country a tax cut????  How the **** is that even possible?