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.

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.

  • golamas1999
    4•1 year ago

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