If you had to guess what percentage of Americans' personal income would you say comes from wages paid by private employers? 75%? 60%? 50%? The answer, my friends, is 41.9%. That's a record low, and to me it's an amazing number. From the USA Today article:
Key shifts in income this year:
• Private wages. A record-low 41.9% of the nation's personal income came from private wages and salaries in the first quarter, down from 44.6% when the recession began in December 2007.
•Government benefits. Individuals got 17.9% of their income from government programs in the first quarter, up from 14.2% when the recession started. Programs for the elderly, the poor and the unemployed all grew in cost and importance. An additional 9.8% of personal income was paid as wages to government employees.
Okay, I have a question that I'm hoping someone smarter than me and with more time to do research can answer: If about 42% of personal income comes from pay and about 28% comes from government programs/wages, then where does the other 30% come from? I can think of medical benefits and interest on investments, but my little pea brain can't come up with anything else.
Befuddled 