Jason Rosenbaum

From the "Grab The Pitchforks and Torches" department: 

The Bush tax cuts on those making more than $250,000 expire at the end of the year. Another round of Democratic in-fighting is set to resume on whether to extend them. Here’s what Rep. Mike McMahon of New York had to say on the possibility of ending the cuts:

“I think it is a political liability because it’s a [bad] policy right now for the economy and could have a bad impact on jobs. I think it is something that is going to be a lively discussion. A working couple making $250,000 is barely making ends meet. If you have a partnership or an S. Corporation you are definitely affected… As professionals or shop owners or restaurant owners, you get hammered."

When McMahon made this statement, he was referring to the residents of his district (Staten Island and a slice of Brooklyn), where admittedly the standard of living is high. So I consulted a cost of living calculator, and determined that $250,000 there is equal to $170,000 where I live in York County, South Carolina – a county whose median income is more or less typical for the nation. 

$170,000 is well over three times my family’s income, and we’re doing just fine, thank you. It is also seven times the poverty line for a family of four, which is statistically "barely making ends meet."

What’s on your mind tonight?