New Median Income Figures

[SinkingFast]

The New Median Income figures have finally been posted.

http://www.usdoj.gov/ust/eo/bapcpa/meanstesting.htm

The current figures, that were updated 2/13/06, remain in effect thru the end of Sept.

Effective October 1st, filers use the new numbers.

Our State went DOWN $857/year.

Several others I looked at, in a spot check, went down as well.

For those of you looking to file October or later, this may have an impact on you. You should check out the new numbers.

[sisterfunkhaus]

I don't see them. It takes you to a page on means testing. Is there something on that page to click on to go to the new incomes?

[susie]

http://www.usdoj.gov/ust/eo/bapcpa/20061001/bci_data/median_income_table.htm

This is a direct link.

[JusticeForAll]

Wow! My state went up by $1226! Not that it means anything to me now, I'm just surprised it went up, not down.

[SinkingFast]

On the link I gave, down where the Median Income is supposed to be, there's a selection/drop down bar.

One for the Current figures. One for the New Figures. One for the Figures Pre 2/13/06. You select the line you want and then click on Go.

That way you can select the different tables to compare the current income figures to the new income figures and calculate your State's change.

[susie]

That's interesting, Justice. My state went down $1345.

[JusticeForAll]

Having the figures go down makes it harder to file a chapter 7, so I'm surprised to see any of the states numbers going up! That makes it easier for filing a Chapter 7.

I just thought it would get harder and harder for the consumer.

[NowOrNever]

Our state went down in all columns but the 3 member family - that one went up almost $3K. Kind of weird.

[razorguns]

CT is $51k and CA is $43k? WTF?

California is WAYYY more expensive than ct. Who came up with these #'s? Pulled out of a hat?

r

[BassBoy]

I think they just did the "inny, minnie, miney, moe.....that's looks a good one for this state." LOL!

[no_it_all]

CT is $51k and CA is $43k? WTF?

California is WAYYY more expensive than ct. Who came up with these #'s? Pulled out of a hat?

r

The median income has nothing to do with how expensive a state is to live in. It reflects the states median income....New Jersey and Connecticut usually rank either one or two in the nation for median income.

[SinkingFast]

The median income has nothing to do with how expensive a state is to live in. It reflects the states median income....New Jersey and Connecticut usually rank either one or two in the nation for median income.

Some States are suffering huge, better paying job losses.

Indiana has lost, lost, lost many very good paying manufacturing jobs within the last year. As has Michigan.

Plant closures. Companies ceasing operations in the State and moving that production to other facilities elsewhere.

Could explain the downward trend for some States. Thousands of people who made $80K/year or so suddenly unemployed or on retirement. It does make a dent in the overall income level of a State.

[no_it_all]

Our state median dropped by 2K for a single filer..

[9877donna]

I like that increase!!

Wow.Our state went UP by around $1,500!! Go New York State!!
Donna

[razorguns]

The median income has nothing to do with how expensive a state is to live in. It reflects the states median income....New Jersey and Connecticut usually rank either one or two in the nation for median income.

that makes no sense. If a state is expensive, salaries need to rise so people can afford those expenses. NYC landlords couldn't charge $2g's rent per month, if everyone made $6/hr. Basic economics.

r