Where The Money Is


Reihan Salam argues that "the collective political influence of the upper-middle-class is greater than that of the ultra-rich":

To illustrate why the upper-middle-class matters in the tax debate, I recommend taking a look at this chart, which I found via the Hoosier Pundit. It measures the amount of total taxable income for all filers by adjusted gross income level for 2008, and it shows that the total taxable income for households earning $100,000 to $250,000 — comfortably beneath the upper bound of the “middle-class” — approached $1.4 trillion.