Tuesday, March 29, 2016

THE CLINTON'S; VERY MUCH A PART OF THE 1%

According to Money Nation, Hillary Clinton’s net worth is $31.3 million. Her husband, Bill Clinton, has an estimated net worth of $80 million. A Forbes report found there are just over 5,000 households in the United States with a net worth of over $100 million; the Clintons are one of them. Yet despite being one of the wealthiest people in the country, Ms. Clinton wants voters to believe her interests lie with the middle class.

Ms. Clinton’s wealth has detached her from reality, particularly in regard to her definition of the middle class. With her promise not to raise taxes on households making $250,000 or less a year, she ignores the most recent U.S. Census data, which find the median household income is $53,657. Comparing the struggles of a household that makes $53,000 annually to one making nearly $250,000 annually suggests that Ms. Clinton has a complete misunderstanding of what middle class in America actually means.

The middle class is working paycheck to paycheck, balancing mortgages or rent and—in many cases—student loans, car loans and credit card debt. Middle class living expenses pile up to the point where, at the end of the month, even the most frugal households are fortunate to have anything leftover.

A report by the Social Security Administration found more than half of Americans earn less than $30,000 a year. According to data from the Tax Policy Center, as of 2012, households with incomes over $200,000 made up only 4 percent of households in America; far from being middle class.