Last edited Sun Mar 20, 2016, 01:58 PM - Edit history (1)

Census Quick Facts

Per capita income in past 12 months (in 2014 dollars), 2010-2014

$28,555

As the top 1% make about 20% of the AGI ... you could ballpark the per capita of the other 99% at about $22,800

without the income of Buffet, Gates, the Kochs, the Waltons etc. At one time the most lucrative major at NC State was cultural geography, only because Michael Jordan bent the curve. How real is that per capita income number.

As the top 1% make about 20% of the AGI ... you could ballpark the per capita of the other 99% at about $22,800

Men like Drumpf burn through that in a day. Were I appointed dictator, I'd force them to sit down with a Sunday newspaper, classifieds and grocery circulars, and draw up a budget for a $22,800 income, minus OASDI and withholding, of course. Then I'd make them live on it for a year, until they saw the wisdom of the tax clawback I'd hit them with.

I missed that. That seems like a more realistic number .

https://en.wikipedia.org/wiki/Category:United_States_locations_by_per_capita_income

United States counties by per capita income
https://en.wikipedia.org/wiki/United_States_counties_by_per_capita_income

Last edited Sun Mar 20, 2016, 09:26 PM - Edit history (1)

Strictly speaking, "per capita income" refers to GDP per person. According to the latest data, U.S. GDP in 2015 was $17.943 trillion; and the Census Bureau's best guess as to U.S. population, 321.3 million. That would give you $55,845.

Of course, when people think of "income" they naturally think of personal income: wages, tips, fringe benefits, rental and investment income, government checks, and other transfers (settlements, lotteries, and such). That amounted to $15.342 trillion in 2015, or $47,750 per person.

But as you pointed out, income in the U.S. is not very evenly distributed. And just how unevenly is a subject of debate, since although IRS data tells us that the top 1% earned 19% of income in 2013 (latest available year), it's common knowledge that they under-report a substantial share of their income (besides availing themselves of all those unethical - but legal - tax loopholes). But let's take the 19% figure. That would leave $12.427 trillion, or $39,065 per person for everyone in the remaining 99%.

Finally, there's the question of median income - the figure that divides the population in precisely half. The Census Bureau tells us that in 2014 (the latest year), the median household income was $53,657. And how many folks did a median household have? Believe it or not, just two people (actually 1.7; but since, unless you live with Jeffrey Dahmer, that's physically impossible, we'll leave it at two).

So what does the most "typical" household in America experience in terms of income? $53,657 for two people, or $26,829 per capita. That's as of 2014, so in 2015 it had to have been around $27,500.

Now take your total household income (including any investment income) and divide it by the number of people that normally live at home. If it's more than $27,500, you're doing better than the average Joe.

(well, assuming you live somewhere with an average cost of living).

They don't call it the dismal science for nothing.