The census bureau released their latest figures on median income (as well as poverty and health insurance). The good news is that median income increase over the past year after several years of declining income. The bad news is that median income in 2007 is still less than median income in 2000. And that's before the recent economic downturn.
Also, the poverty rate increased slightly (.2%) and the number of uninsured decreased, albeit with fewer people enrolled in private insurance than in 2006 and more people enrolled in government sponsored plans.
I imagine this is good news for John McCain, a former prisoner of war.
And Superfreak, this helps explain the reason why the tax burden as a percentage of tax revenues for rich folk increased where as the tax burden as a percentage of revenue for poor and lower class folks decreased. Since 2000 the rich have gotten a lot richer while the poor and middling have been treading water if not going under a bit. Where the top 5% earns 50% of the income it's no wonder they pay 50% of the revenues from income tax.
Census Report Here (pdf):
http://www.census.gov/prod/2008pubs/p60-235.pdf
Also, the poverty rate increased slightly (.2%) and the number of uninsured decreased, albeit with fewer people enrolled in private insurance than in 2006 and more people enrolled in government sponsored plans.
I imagine this is good news for John McCain, a former prisoner of war.
And Superfreak, this helps explain the reason why the tax burden as a percentage of tax revenues for rich folk increased where as the tax burden as a percentage of revenue for poor and lower class folks decreased. Since 2000 the rich have gotten a lot richer while the poor and middling have been treading water if not going under a bit. Where the top 5% earns 50% of the income it's no wonder they pay 50% of the revenues from income tax.
Census Report Here (pdf):
http://www.census.gov/prod/2008pubs/p60-235.pdf