I've read several posts and comments recently about how both President Obama and Governor Romney are talking about the "middle class" (see this post over at Economix by Catherine Rampell). I suppose there isn't a widely accepted standard definition in use here, but I find it bothersome when both candidates refer to "people with incomes less than or equal to $250,000 as "middle class." Using data from the Tax Policy Center (see here), I generated the graph below:
Note that $250,000 of income is about the 96th percentile (clearly not anywhere near the "middle"). Thus I do not know in what sense this is meaningfully viewed as middle class.
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