That can’t be right though… 1000 people isn’t nearly enough to drag the average income down 5k BELOW the median income in a nation of over 300 million. It should still be higher due to the long tail on the high side of incomes.
To explain the first panel alone, by removing the top ten earners from the data set, you’d move the median to.the lower end by 5 “slots”. I’m confident that there are more than 100 people in the USA who make between $65k and $75k (I know at least 25).
If they mean the average/mean, that still doesn’t add up. Assuming that the US population is about 350 million and that 350,000,000 - 10 ~= 350 million.
NGL, formatting the equations and walking then out step by step is a pain, esp on mobile, but the answer I came to is by multiplying the difference in mean values by the US Population , which yields $300,000,000,000 or about 10 billion once ev3nly distributed.
Elon Musk (2nd richest man in the world at time of writing) has a net worth of less than $5 billion rn, but the numbers here imply that the top earners in the US made at least 6x that amount.
Yeah, I def misread the original meme, but was too committed to the comment when I wanted to.double check somethings.
I use Voyager/WefWef or browsing Lemmy and (to the beat of my knowledge) don’t have a way to save draft comments while double checking the content I’m commenting on. I suppose I should probably make an edit addressing this…
Sorry but this is also wrong! 819k is the LEAST amount you need in order to BELONG to the top 1%. What you would need for your calculation would be the average income in the top 1%!
Not sure about this. However if this was the case, income would be a pretty useless term in terms of describing financial inequality, as a lot of wealth gained would be excluded by this definition.
That can’t be right though… 1000 people isn’t nearly enough to drag the average income down 5k BELOW the median income in a nation of over 300 million. It should still be higher due to the long tail on the high side of incomes.
Yeah, I thought that seemed a little far fetched
Yeah, these numbers don’t make sense.
To explain the first panel alone, by removing the top ten earners from the data set, you’d move the median to.the lower end by 5 “slots”. I’m confident that there are more than 100 people in the USA who make between $65k and $75k (I know at least 25).
If they mean the average/mean, that still doesn’t add up. Assuming that the US population is about 350 million and that 350,000,000 - 10 ~= 350 million.
NGL, formatting the equations and walking then out step by step is a pain, esp on mobile, but the answer I came to is by multiplying the difference in mean values by the US Population , which yields $300,000,000,000 or about 10 billion once ev3nly distributed.
Elon Musk (2nd richest man in the world at time of writing) has a net worth of less than $5 billion rn, but the numbers here imply that the top earners in the US made at least 6x that amount.
TL;DR: I’mma need some sources on this.
Is that supposed to be a net annual income for Elon rather than a net worth? His net worth 270 billion.
Your slot argument only makes sense for median, when the picture is about means. I still think it’s off though.
Yeah, I def misread the original meme, but was too committed to the comment when I wanted to.double check somethings.
I use Voyager/WefWef or browsing Lemmy and (to the beat of my knowledge) don’t have a way to save draft comments while double checking the content I’m commenting on. I suppose I should probably make an edit addressing this…
I guess the lesson here is don’t trust unsourced factual claims in political memes because they are probably just made up
Anime girls will never lie to you.
You mean information on an obvious anti-US propaganda community might not be particularly high quality?
Yep. And never trust information embedded in a jpeg if it doesn’t include a source!
Sorry but this is also wrong! 819k is the LEAST amount you need in order to BELONG to the top 1%. What you would need for your calculation would be the average income in the top 1%!
But I think this is only about wages right? It doesn’t take into account growth in net worth based on shares, does it?
“Income” is understood to mean wages in measurements like this.
Not sure about this. However if this was the case, income would be a pretty useless term in terms of describing financial inequality, as a lot of wealth gained would be excluded by this definition.
Exactly my first thoughts but then I remembered it’s Lemmy. These morons operate on the “trust me, bro” system 🤣
Given the comments in this very thread, that doesn’t appear to be accurate. I only opened this thread because I suspected inaccurate data.