[cactacea]

Sure yeah, all those middle class families with second homes in New York City. Right.

Nobody affected by this is middle class. Nobody that will be affected by this in the next 20 years would be considered middle class by any rational measure.

[slackfan]

Just like the federal income tax was only targeted at the top 5% of the population when implemented.

Inflation is cumulative.

[jmye]

Are you saying inflation is going to cause me to acquire a second home in NYC somehow? I don't think you actually understand what you're arguing about, here.

[cactacea]

So the numbers will need adjusted for inflation. Eventually. Like any other tax. If you're making an argument it is entirely unclear what your position is.

[slackfan]

No tax base rate is ever adjusted for inflation. What planet are you from?

[dec0dedab0de]

That really depends on how you define middle class. I can easily see how someone with a net worth of 100m being considered middle class compared to billionaires.

[cactacea]

Thanks, I needed a laugh. Only on HN...

[swiftcoder]

And here people gave Mitt Romney shit for saying $250k was middle class...

[DocTomoe]

Not middle-class, middle-income.

Also, that was 14 years ago.

[swiftcoder]

> Not middle-class, middle-income.

Unless we are claiming the middle classes live on inherited wealth, I'm not sure the distinction is meaningful?

> Also, that was 14 years ago.

Indeed. In that time the $250k+ club has gone from 2% to 10% of American households, so Mitt Romney might have to consider ~$350k middle-income now

For a slightly more grounded perspective, Pew Research currently maintains that the middle income figure is between $60k-160k