Republicans in Congress and President Trump have touted that their tax reform legislation will give middle-class Americans in the U.S. significant tax relief. However, there is no clear definition of an American middle-class family. An American’s average yearly income is not the only indicator that determines whether someone falls in the middle-class category. So, the question is, what really defines a person as middle class and will the tax reform legislation help or hurt Americans.
What is Middle Class?
Aside from how much money you earn, your location can determine whether you are considered middle class. Think about this, the value of a dollar goes much further in New Mexico than it does in Massachusetts.…