From The Atlantic's Jan/Feb 2009 issue (p. 77):
[T]he median household income in the United States is $48,000... [but] the median-household-income statistic is too blunt an instrument, because it contains households headed by 20-year-olds (i.e., students), as well as 90-year-olds (i.e., retirees). If you earn $48,000 at 20, you're doing fine and don't need government help; at 90, you're on a fixed income and have different needs (and more options) from government than someone younger. According to an analysis by The Third Way, the median household income for people ages 25 to 60, the prime working years, is about $68,000; if they're married, it's about $78,000. If both spouses earn income at some point during the year, the number rises to $85,000.
Makes you reconsider the definition of middle-class, doesn't it?
Showing posts with label income. Show all posts
Showing posts with label income. Show all posts
Sunday, January 18, 2009
Wednesday, October 15, 2008
Are You Rich?
Are you rich? It depends on where you live:
http://www.usnews.com/articles/business/your-money/2008/10/09/what-it-takes-to-be-rich--where-you-live.html
The problem is, the numbers represent an average, not a median, which reduces their relevance. On the bright side, there are lots of lovely numbers for stat geeks like myself.
http://www.usnews.com/articles/business/your-money/2008/10/09/what-it-takes-to-be-rich--where-you-live.html
The problem is, the numbers represent an average, not a median, which reduces their relevance. On the bright side, there are lots of lovely numbers for stat geeks like myself.
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