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An ‘average’ American income may no longer cut it (thehill.com)

submitted 2 years ago by dystop@lemmy.world to c/news@kbin.social

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The typical U.S. family earns about $71,000 per year, according to the Census. Yet, the average American believes a family needs at least $85,000 in annual household income to get by, according to a recent Gallup poll.

That finding tracks with a recent study from SmartAsset, a financial technology company, which found the average American worker needs $68,499 in after-tax income to live comfortably. (That works out to around $85,000 in total income, assuming a 20-percent tax hit.)

The two releases point to the same conclusion: Many Americans earn too little in 2023 to attain a decent standard of living in their communities.

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[–] HubertManne@kbin.social 2 points 2 years ago* (last edited 2 years ago)

Average. lol. most familes make under the average because the average is diluted by the high earners. The modal income will show the real middle mark. I also how it mentions family and then individual. Unfortunately the situation just gets worse and worse as each year goes by.

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