What it takes to keep up with today's Joneses
Monday the U.S. Senate voted to move forward with President Obama’s tax-cut deal. The package survived a potential roadblock from outraged Democrats. The most vocal opposition came from the Independent Senator from Vermont, Bernie Sanders. Sanders spent more than eight-and-a-half hours on his feet filibustering the deal. Sanders argued that the tax package favors the top 1 percent of earners, who own more wealth than the bottom 90 percent of Americans.
So when there's talk about tax cuts for the middle class or wealthy, who are we talking about? And what does a $250,000 annual household income have to do with someone's class status?
To find out "Eight Forty-Eight" turned to our regular business contributor, David Greising. Greising is also a reporter for the Chicago News Cooperative.
Music Button: The Beatles, "Money (That's What I Want)", from the CD With The Beatles, (Parlophone/Capitol)