the average us income is around 20 to 21k. how the heck do people live on those wages. i am single and very young and make double that easy. i have very limited bills. i make enough to get by but i dont live in luxury by any means.
how are all these people making it on so little money? is there something i dont know about besides poverty
2006-12-15 05:20:30 · 3 answers · asked by Steven Colbert 4 in Social Science ➔ Economics
There are a large number of households that are earning $20,000 per year, it is the mode of the distribution, that is the most probable income. However the average household income is over $60,000 and the median nearly $50,000. However many of these households have 2 or more workers. There is a large variation in cost of living in different parts of the county. In New York of San Francisco $40,000 is poor but in Pittsburgh it is enough to be comfortable. There has been little improvement in real wages over the last 30 years even though there has been growth in the productivity of workers. Look at the graph of the income distribution at
http://www.visualizingeconomics.com/2006/11/05/2005-us-income-distribution/
2006-12-15 09:06:00 · answer #1 · answered by meg 7 · 2⤊ 0⤋
angeline jolie said at the time she had the most money ever in her career, she was not happy.
maybe it depends on what your definition of 'poor' is
2006-12-15 15:32:27 · answer #2 · answered by Jillary von Hämsterviel™ 7 · 0⤊ 0⤋
The US so poor? Check out the link below. An average income of $20K puts that person in the world's richest 11%.
But your initial premise is flawed. US average income is far higher than that.
2006-12-15 19:09:51 · answer #3 · answered by Uncle Pennybags 7 · 0⤊ 0⤋