From today’s Economic Times

From an AP story printed on page 18:

The wealthiest 10% of Americans-those making more than $138,000 each year-earned 11.4 times the roughly $12,000 made by those living near or below the poverty line in 2008, according to newly released census figures. […]

Median income fell last year from $52,163 to $50,303, wiping out a decade’s worth of gains to hit the lowest level since 1997.

Rs 48.12 per USD from the same paper.  Yesterday’s close price.  So $138,000 works out to Rs 6,640,560 per year.  Roughly 6.5 million rupees a year.  Or 65 lakhs.  Their poverty line, $12,000 works out to Rs 577,440 or Rs 5.77 lakhs a year.  Rs 10 lakhs a year=Rs 1,000,000 a year=$20,781 a year.

Things to do:  Find out the modal income in the US, in India, compare.


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