PrintMarch 15, 2010
Graph of the Day for March 15, 2010
"A strong middle class equals a strong America. We can't have one without the other. This Task Force will be an important vehicle to assess new and existing policies across the board and determine if they are helping or hurting the middle class. It is our charge to get the middle class -- the backbone of this country -- up and running again."
Vice President Joe Biden.
"Most Americans consider themselves middle class. This raises the question, what does it mean to be middle class? This report examines various definitions, discusses middle class values and aspirations, and presents hypothetical budgets showing how these aspirations might be achieved with different incomes... A major conclusion to be drawn from this report is that planning and saving are critical elements in attaining a middle class lifestyle for most families."
Dept. of Commerce, Middle Class in America report to Joe Biden, January 2010.
Source: Dept. of Commerce, Middle Class in America.
Hoven's Index for March 15, 2010
Families below the poverty level in 2007, by household characteristics:
Married couple: 4.9%
Male household, no spouse: 28.3%
Female household, no spouse: 13.6%
Statistics of the typical (median) hypothetical married couple with two children:
House value: $231,400
Annual income: $80,600
Annual taxes (fed & state income taxes, plus FICA): $12,400
Annual car costs: $12,400
Annual health costs (on top of employer-paid): $5,100
Annual vacation: $3,000
Sources: Dept. of Commerce, US Statistical Abstract, Table 700.
Graph of the Day Archive.
