Tuesday, August 21, 2007

Americans' Average 2005 Incomes Drooped For Fifth Consecutive Year

A report in the New York Times notes that the average income for Americans in 2005 was $55,238, the fifth consecutive year it was less than the average $55,714 in 2000. The paper notes that "income listed on tax returns grew every year after World War II, with a single one-year exception, until 2001, making the five-year period of lower average incomes and four years of lower total incomes a new experience for the majority of Americans born since 1945." Nearly half of Americans have incomes under $30,000; two-thirds make less than $50,000.

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