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Read Our Lips

November 19, 2014 By Debbie Young

Although not official by any standards, a benchmark definition of a middle-class income is approximately $25,000 to $75,000 a year. Why the $50,000 gap? To take into account the cost of living between, say, San Fran and Des Moines, Iowa. So if you earn a middle-class income and a live in a state with high taxes, you probably face a total tax burden of nearly one-quarter of your income.

In a recent piece in NRO, the Cato Institute’s Michael Tanner writes about why the November mid-term elections turned out as they did: “American voters are clearly fed up with a government that demands ever more and more of their money.” In example after example, in red states and blue, voters have clearly said enough is enough, but, as Mr. Tanner asks, “Is anyone listening?” Read more here.

 

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Debbie Young
Debbie Young
Debbie, our chief political writer of Richardcyoung.com, is also our chief domestic affairs writer, a contributing writer on Eastern Europe and Paris and Burgundy, France. She has been associate editor of Dick Young’s investment strategy reports for over five decades. Debbie lives in Key West, Florida, and Newport, Rhode Island, and travels extensively in Paris and Burgundy, France, cooking on her AGA Cooker, driving through Vermont and Maine, and practicing yoga. Debbie has completed the 200-hour Krama Yoga teacher training program taught by Master Instructor Ruslan Kleytman. Debbie is a strong supporting member of the NRA.
Debbie Young
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