This just drips with irony. The ubiquitous conservative critics of Obama's plans have jumped all over this story posted today on Yahoo. Sure, it shows that not every family making $250,000/year is 'rich' by wealth standards, but it sure does show what the centralized family could cut back on or cut out if they were living like the majority of middle-class workers, who make less than $250,000.
The family earns $260,000/year (but with donations and tax deductions they actually earn about $230,000 so this story really doesn't even qualify them. Sorry, pundits.) Classification point # 1. They pay a mortgage on 'extra land they bought.' If they were not 'upper-class,' they wouldn't have a second location of land they own somewhere other than in their home. Classification point # 2. They hope to remodel their house soon, but are unsure because of the economy. The majority of people right now cannot fathom it as they have had salaries significantly cut or are out of a job. Classification point # 3. They have $1,200 left over each month after putting their kids entirely through college, and all their payments. That's an unrealistic dream for the majority of families. Classification point # 4. Oh, and, finally, their vacation at the beach resort. Sure, it might be a family house and it might be split with other members of the family. But the majority of middle-class families can only dream of vacationing at one of them, nevermind owning one. Classification point #5.
Alright, so there's my opinion, although it is slightly more biased than I would like it to be. They are under the $250,000 bracket after all, and the majority of those affected won't even see a tax change unless they earn, including all deductions, gratuities and donations, more than $315,000 (according to CNN Money.)
extra land they bought, $1,200 left over each month, and the hopes for a remodel.