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A cool Census link

This table at the Census website breaks down household income. It shows us that 13% of households have income of $100,000 or more.

Maybe this explains why 19% of Americans think they are in the top 1% of incomes. People don't realize that even if their household income is $250,000, they still aren't in the top 1% of income. (Also, I'm sure that many just don't understand what "percent" means.)

When reading the table, remember it shows household income. Households include college students living by themselves, as well as dual income baby-boomer couples.

The historical chart is easier to read, and also lets you see how household income has increased since 1967. But two factors make the differences harder to interpret. On the one hand, the percentage of married couples in which both spouses work has increased since 1967. On the other hand, the percentage of people who are married has declined since 1967. This may explain some of the increasing income gap. These demographic trends would increase the salaries in the upper quintile while lowering the salaries in the lower quintile. Maybe the "shrinking middle class" is just a bogus interpretation of the household income statistics?

posted Monday, October 27, 2003