Thursday, March 06, 2008

Median Gross Income: $61,500

Some interesting income charts and statistics on TaxProf Blog:
The IRS announced today (Rev. Proc. 2008-19) that the U.S. median gross income is $61,500. Go here to compute the median family income for dozens of metropolitan areas (Cincinnati's median family income is $66,212.85.) Here are charts showing the average income and tax rates from 1916-2005 (Scott Hollenbeck & Maureen Keenan Kahrhas, Ninety Years of Individual Income and Tax Statistics, 1916-2005, in Statistics of Income Bulletin (Publication 1136) (Winter 2008)):

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