2007-09-30 10:01:17 · 10 answers · asked by ashtray842003 1 in Business & Finance ➔ Personal Finance
According to the US Census, for years 2005-2006, the median income for the US was $48,023.http://www.census.gov/hhes/www/income/income06/statemhi2.html
According to the 2007 Federal Guidelines, the poverty level was set at $10,210.http://aspe.hhs.gov/poverty/07poverty.shtml
At $10.50/hr and assuming working 40 hours/week 52 weeks a year, you would be making $21,840/year.
2007-09-30 10:10:35 · answer #1 · answered by mister_galager 5 · 1⤊ 0⤋
If you're working full time at that wage you're pulling in about $20,000 a year. This may be enough to live off of for one person but if a whole family is living off of this one income that would be a low income family. There is also a BIG difference between low-class and low income. Money isn't everything. A person can have tons of money and still be considered low class (look at the adult entertainment industry). On another note, a person could have a PhD and work for peanuts.
2007-09-30 10:15:37 · answer #2 · answered by Lucy The Dog 3 · 0⤊ 0⤋
Like the other responders said...it depends. Just based on numbers you are not "low income", but if you live in a high cost-of-living area, have a large family, are over 35, you could very well be considered low income.
Low class? Oh, I'm sure a lot of people look at someone making less then they do as "low class". I read where some people think middle class is making $120k a year!
But if you work hard and pay your bills, NOBODY should be calling you anything!
2007-09-30 11:23:57 · answer #3 · answered by Anonymous · 1⤊ 0⤋
The study didn't mention that lower income children tend to be more healthy. They're not vegetating in front of the video games all day and munching on snacks. Plus they become more imaginative. Video games lay out the parameters of what the child can or can't do, a side from the cheats that are integrated into the game. You give a child a simple toy, and send him outside with it, and the child will create an entire world around that toy.
2016-05-17 12:40:42 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Each person in the United States of America makes $35.29 USD per hour on average.
You are way below the average and you need to increase your income by a lot if you want to move your country from the current number 4 to the number 3 Spot. (France with $35.72 USD)
If you don't have a house then I suggest you to save at least 50% of your money until you have enough for a down payment.
2007-10-01 12:52:46 · answer #5 · answered by Anonymous · 0⤊ 1⤋
$20,000 a year. Some people consider that low income.
Personally, I don't think it is unless you are comparing it too someone who is making $30 an hour.
I used to live off of $9,600 a year. I think once you don't qualify for food stamps you should be considered middle class.
2007-09-30 10:16:31 · answer #6 · answered by ♥ Mary ♥ 4 · 0⤊ 1⤋
it is working class pay . minimum is around 7 so l0 is pretty average for starting wage in a lot of jobs. low class has nothing to do with how much you are paid.
2007-09-30 10:10:24 · answer #7 · answered by Aloha_Ann 7 · 0⤊ 0⤋
I live in Indiana, the min. wage is $5.86/hr and that's what I was making. I'd shed some blood to make $10.50 an hr.
2007-09-30 17:52:24 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It is poverty level by todays standards.
2007-09-30 10:08:57 · answer #9 · answered by geniepiper 6 · 0⤊ 0⤋
Depends on where you live, and what your'e doing.
2007-09-30 10:08:24 · answer #10 · answered by drquinley 2 · 0⤊ 0⤋