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Why stop at $100K? Why not $250K? $500K? If you're in the top 1-2% of income earners you feel things differently, this is understood.
by deltarholamda 3y ago
Why stop at $100K? Why not $250K? $500K?
If you're in the top 1-2% of income earners you feel things differently, this is understood.
- renewiltord 3y agoAh I see. Then let's do the median. That's $74580 from the census. So your income has to rise by 0.67% to compensate for a 5% rise in grocery prices.
- deltarholamda 3y agoFor one, grocery prices have risen by more than 5%. (My own experience is more like 30-40% just in the past year.) For two, grocery prices are one metric among many in the cost of living, e.g. you also have to account for housing prices, energy prices, etc. And, of course, wages are not rising commensurate with the overall CoL, they have been essentially flat for decades. So while your math is good, it's not meaningful. I find it very weird the lengths people will go to in trying to make one-off metrics reflect a different reality than what is very clear from people's experiences.