In the World

Sad rich-but-not-superrich people in the WSJ

This graphic from the Wall Street Journal is amazing:


The article does point out that tax increases coming out of the fiscal-cliff deal will affect all workers—because of the end of the payroll tax holiday—not just those whose taxes on wage income and investments are going up. But the graphic sticks with the six-figure folks, all drawn to look rather put upon. From blogger Xenos:

The median household income in the U.S. between 2007-2011 was $52,762, but the American people are all supposed to shed tears for those that make between three to twelve times as much? Seriously, how out of touch do you have to be to think that? Of course, this is the same outfit that supported a guy who thought making $250k qualified as "middle income"

Yup. Except, of course, that the other guy—the president—maintained throughout the campaign that $250k is middle class, too. Then he made a deal that raised that bar to $450k. I still think it makes more sense to say that everyone making six figures—roughly the top 20 percent—is rich. But that view doesn't get too many takers among national politicians of either party.

Okay, so it's possible I'm really just here to link to my Century article about this again. Here it is.

Steve Thorngate

The Century managing editor is also a church musician and songwriter.

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