A new study drawn from Internal Revenue Service statistics and published by Kiplinger, indicates the salaries of Americans may be better than most people think. The recent recession coupled with a high unemployment rate has focused attention on the official poverty level in the country, and finds that what most consider a modest annual income ranks a family in the upper 50 percent of wage earners. To be considered poor by the US government, a single person under 65 must earn $11,201 or less a year. For a family of four, the poverty level was $21,834 a year, while a family of six would need up to $28,789. Surprisingly, the results indicate an annual income level of just $32,879 a year places a family among the top 50 percent of taxpayers, meaning half of the country lives on less than that amount annually. An annual salary of $66,532 a year, places a family in the top 25 percent of earners. An annual wage of $113,018 places a family among the top ten percent of wage earners in the country. The results found that a salary of $410,096 a year places a family in the elite top one percent of American earners.
The figures indicate American salaries are more modest than most people believe, and that relatively few people earn more than six figures a year.
--How Your Income Stacks Up, http://www.kiplinger.com/features/archives/how-your-income-stacks-up.html; December 17, 2009, Illustration by Jim L. Wilson and Jim Sandell
1 Timothy 6:6-10 (NET) “Now godliness combined with contentment brings great profit. (7) For we have brought nothing into this world and so we cannot take a single thing out either. (8) But if we have food and shelter, we will be satisfied with that. (9) Those who long to be rich, however, stumble into temptation and a trap and many senseless and harmful desires that plunge people into ruin and destruction. (10) For the love of money is the root of all evils. Some people in reaching for it have strayed from the faith and stabbed themselves with many pains.”