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Pelosi: $350,000 Is the New Middle Class

July 26, 2009
Money News

PelosiHouse Speaker Nancy Pelosi (D-Calif.) is doing some magic math to make the budget numbers work for the proposed health care reform plan.

She now calls income of $350,000 “middle class.” House Democrats, according to news reports, are considering a $544 billion health care surtax on families that earn more than $350,000 a year, but Speaker Pelosi wants to raise the income threshold to $1 million for joint filers.

“According to Madam Speaker, I guess a household in the top 1 to 2 percent of the nation is now middle class,” writes Gerald Prante on the Tax Foundation’s Tax Blog.

The story continues …..

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