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I've looked for the reference, but I can't find it--An important point in earlier coverage was Price's reasoning for setting the bar at $70k/year. It's not just
by xtiansimon 8y ago
I've looked for the reference, but I can't find it--An important point in earlier coverage was Price's reasoning for setting the bar at $70k/year. It's not just that this is a decent salary or a good salary. The idea, if my memory serves me, was there is a threashold. Below that level, every additional dollar adds significantly to your quality of life. It's the difference between having health care, and child care, and not just one or the other.
- cimmanom 8y agoIIRC with inflation it's now $80K. Maybe searching for that will yield better results?
- Mountain_Skies 8y agoIt likely also varies a bit by the cost of living where the employees live.
- hopler 8y agoThere was a popular sociology paper (since debunked) that picked that $70k/yr number. It's obvious on its face that a single number for all demographics in the country (or world?) is an absurd claim.
- xtiansimon 8y agoWhat's interesting is the idea of an income threashold where each additional dollar meets a previously unmet need, and somewhere above that line, additional dollars have a different impact.
- segmondy 8y ago$70k in Seattle of all places is like minimum wage in the Midwest. ;-). Good luck trying to raise a family out there, insurance, daycare, shelter & transportation. You might just have to eat a family member to survive.