What's the average income in USA from working 8 hours a day? and whats the average cost of living?

Question

In America does the cost of living compare to the aviable income if based on min. wadge??

Answer 1

The median household income is about $48,000. This means that 50% of households bring in less, and 50% bring in more. Based on about 2,000 working hours per year, this translates into about $24 per hour.

Keep in mind that most of those workers making minimum wage are young, inexperienced, and unskilled. Raising the minimum wage reduced the employment of these individuals.

Many experts believe that the earned income tax credit -- lower taxes for lower income individuals -- is a better option. It raises take-home pay for low-paid workers, but it does not affect the employment decision since the wage is not directly affected.

http://en.wikipedia.org/wiki/Earned_Income_Tax_Credit

Answer 2

if u were to only make min. wage u would be living in a small old apartment, no car and not getting by to good. To own a house and cars your family should be brining in 1000 dollars a week if you dont want to be in debt for the rest of your life.