46.2 million people considered in Poverty – Poverty line as income of $22,314 a year for a family of four and $11,139 for an individual.

September 13, 2011
Written by: steve

 With the still struggling economy, more Americans fell below the poverty level last year. Sad but true.

The nation’s poverty rate rose to 15.1 percent in 2010, its highest level since 1993.

About 46.2 million people are considered in need.

As for middle-class American families, income fell in 2010.

The median household income was $49,445, down slightly from $49,777 the year before.

Median income has changed very little compared to rising consumer prices over the last 30 years.

Adjusted for inflation, the middle-income family only earns 11 percent more than they did in 1980, while consumer prices have risen roughly 155 percent.

The figures weren’t very surprising, given the unemployment rate remained above 9 percent in 2010 and the number of Americans who have been unemployed for six months or more surged to an all-time high during the year.
Amid a still struggling economy, more Americans fell below the poverty line last year, according to new census data released Tuesday.

The government defines the poverty line as income of $22,314 a year for a family of four and $11,139 for an individual. CNN report.

Filed Under: IRS Tax Advice | Tax News
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