The U.S. Census Bureau has released its annual report Income, Poverty, and Health Insurance Coverage in the United States: 2007 [PDF].

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Here is a comparison of recent Presidents. At this level of rounding, no difference from the 2007 report.

In 1981, 30% of Americans earned under $25,000 a year, and 41% earned over $50,000 per year. In 2007, 25% earned under $25,000 and 50% earned over $50,000 a year.

The average poverty rate for all Americans for the first seven years of the Reagan terms was 14.2%. For the first seven years of Bill Clinton’s terms, it was 13.6%. Under George Bush, the average poverty rate for 2001-2007 is 12.4%.

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Clearly the earnings of both blacks and Hispanics over the last 17 years has improved significantly, with more of each population moving in to higher income levels.

The average income for all blacks in 2007 was $46,631. This is the third highest average in history, exceeded only by the years 1999 and 2000.

The average income for Hispanics in 2007 was $50,828. While it is lower than last year’s all-time record, it is higher than all years preceding 2000.

The graphs show that the poverty rate for both minorities is at near record lows. For blacks, only three Clinton years and three Bush years are lower.

A similar pattern appears in the graph of the Hispanic poverty rate. 2006 had the lowest Hispanic poverty rate on record.