Both Republican candidate Mitt Romney and President Barack Obama are discussing tax cuts for the "middle class," but both define that as household income of less than $200,000 or $250,000 a year.
On Friday, Romney told ABC's "Good Morning America" that he would not raise taxes on "middle income" taxpayers. George Stephanopolous asked him if "middle income" was $100,000, and he responded, "No, middle income is $200,000 to $250,000 and less."
Obama has proposed keeping the Bush-era tax cuts for everyone making less than $250,000, which he also defines as middle income. But Obama's plan would raise taxes on those making more than $250,000, while Romney's would give higher income earners a tax break, according to the New York Times.
The median — or middle — household income in America is about $50,000, the Census Bureau reported last week. In Maryland, the median household income between 2006 and 2010 was $70,647 according to Census data. Are both Romney and Obama miscalculating when they define middle-income for a family as up to $250,000?
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