A recent article in the Parade magazine provided me with figures regarding the definition of the “Middle Class”
“According to the census bureau, the median income of an American family in 2007 was $ 61, 355.”
The article later states- President Obama defines the middle class as families that earn up to $200,000. And, New York Senator Chuck Schumer defined middle class families as those earning up to $ 160,000. (For purpose of a tax credit for college tuition)
According to figures used by RUPCO, the 2008 median area income (surrounding Woodstock) is $ 46, 050
At first blush- the 2008 median area income is significantly below the 2007 median income of the American family. And, it’s quite an income stretch from $46,000 to $200,000. It’s time to head to work- that’s what us middle class Americans do every day.
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