It doesn't account for so many factors...
Our household income is over $200K yes....
So according to the tax code we're "wealthy"?
That doesn't take into account the following:
-We live in one of THE most expensive regions of the country because this is where the job opportunities were in our field of study. To own a home in this region is dumb expensive. So a HUGE chunk of our income goes to just owning a home...
-We have two kids. HUGE expense in daycare alone. And because of our income, the dependent deduction is negated.
-Student loan debt
-Cost of living in this EXPENSIVE region.

So our $200k here is the equiv. of maybe $80K somewhere like say N.C. It's good yes....but it's hardly wealthy.

The middle class stay getting screwed over basically.