Yesterday the NY Times ran an article headlined, “Average U.S. Income Showed First Rise Over 2000″.
The big claim is that after peaking in 2000, incomes fell, bottoming in 2003, and have now climbed back to make new highs in 2006.
The author examines IRS data showing average Adjusted Gross Income and Wages and Salaries as reported on US tax returns. The numbers quoted are a bit confusing - some are adjusted to 2006 dollars, some are totals and some are averages. Read more about this issue in PricedInGold.com’s article, “US Income Rises?”
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