SEN. CLINTON: . . . . I do not want to fix the problems of Social Security on the backs of middle class families and seniors. (Applause.) If you lift the cap completely, that is a $1 trillion tax increase. I don't think we need to do that.
. . . .
SEN. OBAMA: I will be very brief on this because, Hillary, I've heard you say this is a trillion dollar tax cut [sic] on the middle class by adjusting the cap. Understand that only 6 percent of Americans make more than $97,000 -- (cheers, applause) -- so 6 percent is not the middle class -- it's the upper class.And you know, this is the kind of thing that I would expect from Mitt Romney or Rudy Giuliani -- (laughter, boos, cheers, applause) --
But understand, this is the top 6 percent, and that is not the middle class. (Cheers, applause.)