this post was submitted on 22 Jun 2023
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Work Reform

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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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[–] hark 6 points 1 year ago (1 children)

The median family income is even lower by the way.

[–] golamas1999 4 points 1 year ago

The top 10% owns 76% of the wealth. The bottom 50% owns less than 1%.