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Indian Americans lead all in income, education: Survey

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prasad1

prasad1

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Washington, June 19 (IANS) Asian Americans are the highest-income, best-educated and fastest-growing racial group in the US with Indian Americans leading them all in their levels of income and education, according to a new survey.
Seven in 10 Indian-American adults ages 25 and older have a college degree according to the Pew Research Centre report released Tuesday.
Indians also have the highest median household income of $88,000 among the largest Asian-American groups. Asians as a whole have a median household income of $66,000 compared with the US median of $49,800.

Indian Americans are the most heavily Democratic Asian subgroup (65 percent).
President Barack Obama gets higher ratings from Asian Americans than from the general public: 54 percent approve of the way he is handling his job compared with 44 percent of the general public, the survey found.

Indian Americans lead all in income, education: Survey - Yahoo! News India
 
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Good to know that.

Just one doubt - how is income defined? Is it the Cost To Company? 'household income' is the aggregate of income of all the members in a family? I would appreciate if someone could help me understand this better. Thanks in advance.
 
Income is what one declares in his income tax return (or its equivalent in US)

Cost to company is definitely not an income for me; the company may give a palanquin and four bearers (or its modern equivalent car and driver), I am comfortable, but not richer. Saving of costs is income only for the company.

Here, the ratio of cost to company to income can be 1.2 to 10+.

Haridasa Siva said:
Good to know that.

Just one doubt - how is income defined? Is it the Cost To Company? 'household income' is the aggregate of income of all the members in a family? I would appreciate if someone could help me understand this better. Thanks in advance.
Click to expand...
 
Thanks for the response.

I am however still not clear. What does "the ratio of cost to company to income can be 1.2 to 10+" mean? CTC can be as much as 1.2 times to more than 10 times the income? I am getting confused with the purview of the term 'income'
1. Income is what one receives from one's employer?
2. Income is what one receives from one's employer minus taxes? (Disposable income)
3. Income is what one saves?

And the issue of 'household income'. What does that mean?

May be I am stupid. But I could not help asking questions. Please bear with me.
 
Haridasa sivaji,

Gross(?) and net income and taxable income are all decided by the government;

In addition, the employee (at least some) get, company contribution to provident fund, car, driver, furnished accommodation, full settlement of telephone-electricity bills, leave travel assistance, paid domestic-foreign holidays, lunch tokens encashable for buying of misc items in a supermarket, medical bills and consultation, car for family with driver, furnishing allowance, entertainment allowance - I must stop here; the list can run to many more pages. These have to be included in the cost to the company.
 
Haridasa Siva said:
Good to know that.

Just one doubt - how is income defined? Is it the Cost To Company? 'household income' is the aggregate of income of all the members in a family? I would appreciate if someone could help me understand this better. Thanks in advance.
Click to expand...
Household income is a measure commonly used by the United States government and private institutions. Each household is measured by the income of every resident over the age of 18. Income includes wages and salaries, unemployment insurance, disability payments, child support payments received(child support given does not deduct income measured), regular rental receipts, as well as any personal business, investment, or other kinds of income received routinely.

Taxes, and benefits are not included.
 
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