ROMNEY makes first honest and accurate statement!

http://seattletimes.com/html/politics/2019154670_apusromney.html

Romney: 'Middle-income' between $200K and $250K
Mitt Romney is promising to reduce taxes on middle-income Americans.



But how does he define "middle-income"? The Republican presidential nominee defined it as income of $200,000 to $250,000 a year.

Romney commented during an interview broadcast Friday on ABC's "Good Morning America."

The Census Bureau reported this week that the median household income - the midpoint for the nation - is just over $50,000.

The definition of "middle income" or the "middle class" is politically charged. Both presidential candidates are fighting to win over working-class voters.

President Barack Obama has defined "middle class" as income up to $250,000 a year.

Obama wants to extend Bush-era tax cuts for those making less than $250,000. Romney wants to extend the tax cuts for everyone.

 

For several reasons "middle class" is a great example of lying with statistics. Someone please tell me why I am wrong.

Primarially, because income and asset distribution does not fall on a bell curve.

Second, because the bottom end of the curve is limited by the federal minimum wage and welfare payments including SS and Medicare. This automatically moves median income toward minimum income.

Third, because most people do not understand the difference between median and mean (average).

Fourth, we are never given mean and median income numbers at the same time. I have NEVER seen median and mean income numbers calculated from the same data base.