The Rising Instability of American Family Incomes, 1969-2004 Jacob S. Hacker* Yale & New America Foundation Elisabeth Jacobs Harvard & Brookings Institution *with the assistance of Frank Limbrock and Nigar Nargis

Source: MetLife American Dream Survey, November 2006.

“ Compared to 10 years ago, do you think Americans today have…” Source: Rockefeller Foundation American Worker Survey, February 2007.

Cumulative Growth in Family Income Volatility Since 1973

Percentage of Working-Age Americans for Whom Family Income Declined by at Least 50 percent

Volatility of Male Heads’ Earnings

Average Family Income Volatility by Education Level and Time Period

Source: Congressional Budget Office, Effective Federal Tax Rates, 2007. Average Income (After taxes; 2005 dollars)

Would you prefer “the stability of knowing your present sources of income are protected” or “the opportunity to make more money”? INCOME SECURITY MORE MONEY Source: George Washington University Battleground Survey, March 24, 2005.