September 11, 2012

A moving target?

By Jessica Chau

Here’s a very short piece that is worth highlighting.

The Moving Middle

The New York Times, Paul Krugman, 9/11/2012

Just a quick note: Ezra Klein goes through Martin Feldstein’s attempt to defend the Romney tax plan against the charge that it’s mathematically impossible to make the numbers add up without raising taxes on the middle class, and concludes that it depends on big tax increases on people making between 100K and 200K a year — and hence on the assertion that people with incomes even slightly over 100K aren’t middle class.

I think this would come as a surprise to a lot of Americans. But anyway, do people remember how, just a little while ago, we had howls of protest over Obama’s intention to raise rates on people with incomes over 250K, on the grounds that an income in that range didn’t make you truly rich?

So I guess the middle class is an elastic thing: it stretches to 250,000 or more if we’re condemning Democratic plans, but drops to less than 100,000 for Republican plans. Good to know.