Sunday, September 16, 2012

UK: Romney out of touch about American income levels

The Telegraph

Mitt Romney: People earning $250,000 are 'middle income'

Mitt Romney has said that people taking home $250,000 (£154,000) are "middle income", as the Presidential candidate blasted the Federal Reserve's latest attempt to kickstart the economy by printing more money.

"We can get to a balanced budget without raising taxes on middle income people," Mr Romney told ABC's George Stephanopoulos, who then asked the Massachusetts Governor if he considered someone earning $100,000 as being "middle income".
"No, middle income is $200,000 to $250,000 and less," Mr Romney replied.
With the average salary at $39,959, according to the Social Security Administration, the comments are likely to anger an American public grappling with an unemployment rate of 8.1pc.
Mr Romney, who co-founded Bain Capital and is estimated to be worth $200m, said a cornerstone of his efforts to get a "balanced budget" in the US is to get more people to pay tax.

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