Income and Poverty Report Paints a Not So Pretty Picture

Did you know 15% of America lives in poverty and that income for households after adjusting for inflation has declined by 8.3% since 2007?  That America is making 9% less in real dollars than in 1999?  The latest annual Census report for 2012 shows America is still broken and poor.

The Rich and the Rest of Us in the United States

Most of America is poor, broke, and getting poorer. So shows new Census statistics for 2011. Real median income for households declined 1.5% to $50,054 and has declined for the second year in a row. The household median income is 8.1% lower than 2007 and 8.9% lower than 1999!   The median belies the growing income inequality in the United States. Below is the Census graph of real household income by selected percentiles and illustrates our tragic unequal state. The top 5% increased their income by 66.2% while the the median income has only increased 19% since 1967. Real means inflation is removed.

household income percentile 2011