3 ms·
Average top 1%ile income 1.7M USD. 20% increase = 340K. Average Bottom 50%ile wage = 46K USD. 5% increase = 2.3K Multiply by 50 = 115K So the 20% increase in
by random314 5y ago
Average top 1%ile income 1.7M USD. 20% increase = 340K.
Average Bottom 50%ile wage = 46K USD.
5% increase = 2.3K
Multiply by 50 = 115K
So the 20% increase in top 1%ile represents a 3X increase in total income when compared with bottom 50%ile.
- thaumasiotes 5y agoI'm willing to believe this, but I want to be clear - you've marked an average bottom 50% wage and an average top 1% income. Is that top 1% wage income or all income?
- random314 5y agoHow does it matter to inflation, whether it is wage income or otherwise?
- thaumasiotes 5y agoThe bottom 50% has plenty of non-wage income too.