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That’ll be Why the Median is Barely Over 40 (lemmy.world)

submitted 1 year ago* (last edited 1 year ago) by alphanerd4@lemmy.world to c/usauthoritarianism@lemmy.world

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Snopes

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[–] m0darn@lemmy.ca 11 points 1 year ago* (last edited 1 year ago) (7 children)

I see lots of people are pointing out that these numbers don't make sense. Here are some of my thoughts.

I'm not an economist so I'm probably making some very basic mistakes but...

GDP per capita is $76.3k [Google] Average household size 2.6. [Google] So GDP per household is $198.4k [Calculator]

That is the mean productivity per household.

But the median income per household is $75k [Google]

So what happens to the $123.4k of productivity (198.4k-75k) per household that isn't paid to workers? It's in the outliers and is asset appreciation isn't it?

[–] Reucnalts@feddit.de 3 points 1 year ago (1 children)

Dont know if i dont get the sarcasm. But why are you using the household size? Why is everybody in the household working fulltime? I would think the >2 household are the kids :D

[–] m0darn@lemmy.ca 1 points 1 year ago

I used median household income to account for the fact that not every person in a household is earning. I wasn't confident that median individual earnings would include people that aren't earning.

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