Roberton Williams
speaker
11 appearances
1 recordings
1 series
first heard Sep 2012
last heard Sep 2012
Roberton Williams’s voice in public audio — every appearance, attributed to the second.
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Appearances
Mitt Romney misinterpreted the meaning of those 46%.
60% of those people who don't pay income tax work and therefore pay payroll taxes, the taxes that support our Social Security program and Medicare program.
Of the remainder, more than half are elderly, retirees who have worked but are now retired, and their incomes are either too low to pay tax or because we give special preference for Social Security benefits, they don't pay tax on that basis.
The median income in the United States is just about $50,000.
So this is much, much higher than the median income.
Most people are well, well below those numbers.
And in fact, we estimate that only about 2% or 3% of Americans have incomes above those thresholds.
There's a joke that says if Bill Gates walks into a bar, everybody on average is a millionaire.
That doesn't represent what the people in the bars' average income is.
It says that if you've got a very, very rich person, averaged with a number of very ordinary people, their income can look very large if you look only at averages.
If you look at the median, you get a much better measure of the typical income of a group of people.
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