U.S. Median Income Falls To $26,364; Pessimism Reaches 10-Year High; 16,000 New Millionaires

[Amerigo Vespucci]

Americans' incomes are falling, perhaps a reason why pessimism about their personal finances is now the lowest it's been in a decade.

The median income fell in 2010 for the second year in a row to $26,364, a 1.2 percent drop from 2009, and the lowest level since 1999, according to David Cay Johnston at Reuters.

Meanwhile, U.S. households are growing increasingly concerned about their finances with more than 20 percent of adult Americans rating their financial situation as "poor," a Gallup poll finds. That's a larger share than the 16 to 19 percent of Americans who viewed their finances as poor during and after the recession. It's also the highest percentage since 2001, the first year of the survey, according to Gallup.

***

Not everyone is suffering, however. The number of workers making $1 million or more actually rose to nearly 94,000 last year from 78,000 in 2009, according to Reuters.

http://www.huffingtonpost.com/2011/10/20/us-incomes-falling-as-optimism-reaches-10-year-low_n_1022118.html

[Turbineguy]

1. Yeah, but look

at the taxes they don't have to pay! It's an economic miracle!

[chill_wind]

2. It is staggering.

>The number of workers making $1 million or more actually rose to nearly 94,000 last year from 78,000 in 2009, according to Reuters.<