Inequality

"‘I generally define well-off’, says Obama’s website, ‘as people who are making $250,000 a year or more’. Which means that people making, say, $225,000 (who are in the 97th percentile of American incomes) are middle class; and that they deserve to be taxed in the same way as those in the 50th percentile, making $49,000. The headline of the website on which this appears is ‘I’m Asking You to Believe’. But asking the 40 per cent of Americans who live on under $42,000 to believe that they belong to the same middle class as the approximately 15 per cent who make $100,000–$250,000 may be asking too much...
"The point, then, is that the nomination of Obama is great news for American liberals, who love equality when it comes to race and gender, but are not so keen when it comes to money. Liberals are the people who believe that American universities and colleges have become more open because, although they are increasingly and almost exclusively populated by rich kids, more of these today are rich kids of colour. (Obama’s popularity on college campuses is no accident—he is diversity’s pin-up.)"

Walter Benn Michaels, "Against Diversity" New Left Review 52 (Jul/Aug 2008) pp. 35, 36.