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U.S. Individual Income Falls 5.1%

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NU Online News Service, July 29, 2004, 1:32 a.m. EDT

Total U.S. adjusted gross individual income fell 5.1% between 2000 and 2002, to $6 trillion.[@@]

Income from wages and salaries grew, but a drop in income from capital gains and taxable interest caused total individual income taxes to fall 19% over the same period, to $798 billion, according to new data from the Internal Revenue Service.

Net capital gains income fell to $247 billion, from $644 billion, and taxable interest income fell to $139 billion, from $199 billion.

Total income from pensions and annuities increased to $363 billion, from $326 billion.

The IRS has posted the data on the Web at http://www.irs.gov/pub/irs-soi/02in01si.xls

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