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The Exact Income You Need To Be Happy Is...

$75K, assuming you've also got friends

(Newser) - How much money is enough money? Exactly $75,000, according to a new study. Economist Angus Deaton and Nobel prize-winning psychologist Daniel Kahneman looked at data from the Gallup-Healthways Well-Being Index, and found that people reported becoming happier as their household income increased—until it hit $75,000. After that,... More »

Paycheck Data Dismal in 2010

...Unless you were a millionaire

(Newser) - The Social Security Administration quietly released payroll data for 2010 yesterday, and they were “in a word, awful,” writes David Cay Johnston at Reuters —assuming you’re not a millionaire, that is. The number of people making at least $1 million rose by 20%, jumping from 78,... More »

DC Overtakes Silicon Valley in Household Income

Typical home pulls in about $84,000

(Newser) - Our nation's capital city boasts the highest average income in the country, reports Bloomberg . New census statistics show that a household in the DC metro area typically earns $84,523, compared to the national median of $50,045. The booming salaries are explained by a dense concentration of lobbyists,... More »

Calculate Where You Are in the 99%

'Wall Street Journal' offers a quick calculator

(Newser) - Just how strongly do you identify with the "We Are the 99%" slogan? It's the Wall Street Journal to the rescue, with a nifty little tool that allows you to plug in your salary and see what percentile you're in. (It's based just on salary, not... More »

US Incomes Fell More After Recession Than During It

Median household income down 6.7% between June 2009, June 2011

(Newser) - US incomes continued to fall after the 2007 recession was declared over—at an even steeper rate than during the recession, according to a recent analysis. Inflation-adjusted median household income fell 6.7% between June 2009 and June 2011. During the two-year recession, incomes fell 3.2%. The full four-year... More »

Mean People Make More Money

Study finds less agreeable workers earn more

(Newser) - Kindness doesn't pay—at least not between the hours of 9 and 5, a new study shows. The aptly-named "Do Nice Guys—and Gals—Really Finish Last?" study found that "agreeable" workers earn less than those who aren't as agreeable, with an especially wide gap for... More »

How Many Millionaires Paid No Income Tax in '09? 1,470

Average income fell 6.1%, new data shows

(Newser) - Some harsh figures are tucked into newly released income tax data from 2009: As the economy shed jobs, so too did the country shed taxpayers. Two million fewer individuals and couples filed with the IRS, while some 1,470 people earning $1 million or more didn’t pay a dime,... More »

Chrysler Turns 1st Profit Since Bankruptcy

Revenue climbs 35% as Big Three return to profitablility

(Newser) - Good news for Detroit: The Big Three automakers are all profitable once again. Chrysler has reported its first net profit since leaving bankruptcy nearly two years ago, with a net income of $116 million in the first quarter. The firm saw revenue jump 35% to $13.1 billion compared to... More »

Consumer Spending Up... Thanks to Gas Prices

Personal income up 0.3%, but inflation hits hard

(Newser) - Consumer spending rose at its fastest rate in four months in February—but that’s in large part due to rising gas prices. Consumer spending climbed 0.7%, while personal income rose 0.3% following January’s 1.2% jump, the AP notes. Both gains reflected a Social Security tax... More »

Female Breadwinners More Likely to Ditch Hubbies

38% more likely, to be exact

(Newser) - We already know that men are more likely to cheat on female breadwinners—but today's breadwinner update gives the bad news to the men. A 25-year study has found that ladies who bring home the bacon—specifically 60% or more of the family's income—are 38% more likely to divorce... More »

Wealthy Americans Migrating South: IRS Data

Good weather, low taxes lure rich, even during recession

(Newser) - Wealthy Americans are on the move, largely to the low-income-tax havens of the Sunbelt. A new Forbes analysis of IRS data from 2008 shows Collier County, Fla., at the head of the pack, picking up 15,150 new residents with an average income of $76,161—compared to $26,128... More »

How Much Money You Got? Sites Broach Taboo Topic

It's easier than ever to see how we stack up with others

(Newser) - You probably don't know Joey Kincer of San Juan Capistrano, California, but if you read the New York Times Magazine this weekend, you'll learn he makes $65,000 a year as a web developer and has a net worth of $201,000 (above the national median but about even with... More »

Once Again, We're Spending More, Saving Less

Spending rose twice as much as income in March

(Newser) - Well, that didn’t take long: Americans are back to spending more and saving less. While personal income rose 0.3% in March, spending rose at twice that rate, Business Insider reports. Personal savings, on the other hand, slipped that same 0.3% from 3% of income in February to... More »

Obamas Made $5.5M

Jill and Joe Biden earned $333,000 in 2009

(Newser) - Tax Day means we get to peek into the personal finances of the Obamas. The president and first lady reported income of $5.5 million in 2009, most of it from his books. They paid $1.8 million in federal taxes and $163,303 in state taxes to Illinois. The... More »

Choose, America: Big Banks or Middle Class

Bank shenanigans are destroying the building block of America

(Newser) - The inevitable consequence of letting big banks run wild is nothing less than the extinction of the American middle class. "Unthinkable,” Elizabeth Warren writes—but a real and dire possibility. Warren, chair of the Congressional Oversight Panel on the bailouts, has seen the numbers, and they aren't pretty.... More »

College Bosses Earn Record $1M+ Pay

Despite recession, school leaders' pay grows—with tuition

(Newser) - Lean times can go to the back of the class when it comes to college presidents. A record 23 of them raked in more than $1 million last year, up from nine in 2007. Not so surprisingly, many of presidents reigned at institutions among the 58 which charged more than... More »

Most Stay-at-Home Moms Aren't 'Opting Out': Census

Contrary to 'opt-out revolution' notion, most stay-at-home moms start that way

(Newser) - The so-called opt-out revolution by stay-at-home moms “is not and never has been and will not be a revolution,” says one sociologist—and statistics from the most recent census support that point. The term was coined to describe well-educated women leaving high-powered careers to raise children, but census... More »

Women Gain as Recession Batters Male-Dominated Fields

Men have lost 3 times as many jobs as women since Dec. 2007

(Newser) - The US job market is closer than ever to gender equality because the recession has most heavily affected male-dominated industries, USA Today reports. Women held 49.83% of the nation’s jobs as of June. Since the recession began in December 2007, 74% of the 6.4 million jobs lost... More »

Tax Collectors Use MySpace, Google to Find Deadbeats

Public profiles can provide valuable income information for revenue agents

(Newser) - Internet-savvy state tax collectors are using a new tool in tracking down evaders: social networking websites. Tax collectors are taking advantage of the fact that an individual’s MySpace or Facebook profile often contains quite a bit of professional information, the Wall Street Journal reports. Agents in Nebraska, for example,... More »

Stimulus Boosts Americans' Incomes

Consumers tuck funds away: Savings rate hits 16-year high

(Newser) - Incomes in the US got a big boost from federal stimulus dollars in May, the Commerce Department reported today. But weary consumers stashed most of that lucre away, sending the savings rate to a 16-year high. “Households are reverting to a more sustainable spending path vis-à-vis income,”... More »

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