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Happiness Survey – Crock of Bull

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Hopefully people don’t believe this, many would argue they are happy and make much less.

Study shows takes Yearly Earnings of $50,000 to be happy. From all the numbers Americans are not very happy. How many people did they survey??  Numbers have to be real, not a tenth of a percentage point.  Some and I would say many families just a modest increase of $300-500 a month would make them happy.  Get real with your surveys.  I don’t usually put my opinions out here, so here are some more opinions with a few real numbers.

“Money may not directly buy happiness, but our study clearly shows that it is an important factor in satisfaction with quality of life,” Paul Hogan, chairman and founder of Home Instead Senior Care, a company that provides in-home care for seniors and commissioned the survey.  ”The important take-away is not only the extent to which income shapes perspective on life but how difficult the recent economic downturn has been for many.”

The survey was based on the responses of 1,235 Americans in a telephone survey.

Okay so surveys that make national news give me the red ass. Look at the survey numbers…How in the hell can they report this on national news.

Population of the U.S  311,591,917 - Jul 2011

www.google.com/publicdata   Source: U.S. Census Bureau

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USUAL WEEKLY EARNINGS OF WAGE AND SALARY WORKERS — FIRST QUARTER 2012

Median weekly earnings of the nation’s 100.8 million full-time wage and salary workers were $769 in the first quarter of 2012 (not seasonally adjusted), the U.S.Bureau of Labor Statistics reported today. This was 1.9 percent higher than a year earlier, compared with a gain of 2.8 percent in the Consumer Price Index for All Urban Consumers (CPI-U) over the same period.

Now that is a survey one third of Americans.

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This is pretax so let’s subtract these Taxes, Social Security Taxes, Medicare Taxes, State Taxes and Federal Taxes are all going to be different.

“The federal tax code, which was 400 pages long in 1913, has swollen to about 70,000. Americans now spend 7.6 billion hours a year grappling with an incomprehensible tangle of deductions, loopholes and arcane reporting requirements. That is the equivalent of 3.8m skilled workers toiling full-time, year-round, just to handle the paperwork. By this measure, the tax-compliance industry is six times larger than car-making.”  Economist

Back to the basics.

Weekly Earnings  $769  x 52 = 39,988 this is median income.

If you make minimum wage Federal Minimum Wage

Weekly Earnings  $290 (7.25 x 40) x  52 = 15,080

You can find your state minimum wage law http://www.dol.gov/whd/minwage/america.htm

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Now lets discuss a little about poverty…

Income Used to Compute Poverty Status (Money Income) http://www.census.gov/hhes/www/poverty/about/overview/measure.html

  • Includes earnings, unemployment compensation, workers’ compensation, Social Security, Supplemental Security Income, public assistance, veterans’ payments, survivor benefits, pension or retirement income, interest, dividends, rents, royalties, income from estates, trusts, educational assistance, alimony, child support, assistance from outside the household, and other miscellaneous sources.
  • Noncash benefits (such as food stamps and housing subsidies) do not count.
  • Before taxes
  • Excludes capital gains or losses.
  • If a person lives with a family, add up the income of all family members. (Non-relatives, such as housemates, do not count.)

U.S. DEPARTMENT OF COMMERCE: PRELIMINARY ESTIMATE OF WEIGHTED AVERAGE POVERTY THRESHOLDS FOR 2011

http://www.census.gov/hhes/www/poverty/data/threshld/11PRELIMINARY.xls

Size of Family Unit                                         Estimated Threshold

1 person (unrelated individual)…………….       $11,491

Under 65 years…………………………………..       11,702

65 years and over ………………………………       10,788

2 people ………………………………………….         $14,667

Householder under 65 years ………………        15,139

Householder 65 years and over ………….        13,610

3 people ………………………………………….         $17,922

4 people ………………………………………….         23,018

5 people ………………………………………….         27,274

6 people ………………………………………….         30,841

7 people ………………………………………….         35,082

8 people ………………………………………….         39,131

9 people or more ……………………………..         46,647

Last year, about 48 million people ages 18 to 64 did not work even one week out of the year, up from 45 million in 2009, said Trudi Renwick, a Census official.     This is 16% of Americans 300,000,000

Our Leaders don’t have a clue

Reported in July 2011

According to the report, members of Congress receive an annual salary of $174,000 — which alone puts them in the highest-paid 5 percent of U.S. workers. They also, however, receive a host of additional benefits that put their total annual compensation at around $285,000. By comparison, the average full-time American employee earns just $50,875 annually.

Read more: http://dailycaller.com/2011/07/27/report-members-of-congress-earn-3-4-times-more-than-the-average-u-salary/#ixzz1sgrggbVj

Where do you fit?? Are You Happy?? Would love to hear your thoughts…

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About the Author

Rhonda Evans

Rhonda is the founder and editor of MoneyPoint Live. She is a retired Senior Chief from the USN, mother of two, previous small business owner, and entrepreneur.

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