You calculate the income for each household. This is the sum of the incomes of all members of the household. The median is the value of household income such that 50% of households have a higher income and 50% have a lower income.
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Gross household income is typically reported on an annual basis. It represents the total income earned by all members of a household before any deductions or taxes are taken out.
The average household income around the world varies greatly depending on the country and region, but overall it is estimated to be around $10,000 to $20,000 per year. Developed countries tend to have higher average household incomes compared to developing countries.
The median household income is the income level at which half of all households earn more, and half of all households earn less. Statisticians believe this measure better reflects the prevailing economic conditions than average income (which can be significantly shifted by very high earners), or GDP per capita (which may reflect the economic activity of a small segment of the population). The Median Canadian household income in 2008 was Cad$68,860 (Statscan). This ranged from a low of Cad$59,320 in Newfoundlandand Labrador to Cad$86,080 in Alberta. The Median US household income in 2007 was US$50,233 (US Census Bureau).
Almost all unearned income is included in determining Medicaid spenddown. One notable exception is Supplemental Security Income (SSI). There are other exceptions.
To spend income and consume
All states have state income taxes.
All states have federal income tax. The only states with no state income tax are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
All states have state income taxes.
All of the states that have a personal income tax.
Are sellers in labor market and buyers in the goods and services market