My students find it revealing to learn the income distribution: Last year, 10% of American households got by with income of <$14,600 20% got <$25,600 30% got <$37,000 40% got <$50,000 50% got <$63,200 60% got <$79,500 70% got <$100k 80% got <$130k 90% got <$185k 95% got <$249k
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Alright, let's return to poverty. Don't forget the absolute magnitude: Around 1 in 8 Americans lives below the (meager) poverty line. Compared with past years, the poverty rate is currently relatively low — though not surprisingly low given the current unemployment rate.
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Median household income (adjusted for inflation) is up only a tick, suggesting that the ongoing economic expansion still isn't delivering much for the middle class. Over the longer run, the failure of median household income to rise over the past two decades is disappointing.
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Not good: Income inequality is at an all-time high in the US (at least since Census started measure income inequality in the late 1960s). #Census
