The figure referenced in this tweet is likely referring to the 2021 net compensation chart we saw making the rounds a few weeks back. Indeed, it’s correct, ~50% of all Americans made less than 35k per year in net total compensation in 2021.
In 2022, that figure rose to ~40k. So the trend is going in the right direction, at least. And IIRC, the chart does include teenagers, college students, people working part time or underemployed, etc.
The difference between top 10% and top 1% is shocking. And if they included 0.1% it would probably make all the other bars too small to see the difference at all.
My favorite calculator/article from that website is the debt one. For the longest time the bottom 10% held negative wealth. Only recently did we move that number down to bottom 7% under biden
35->38 is roughly what inflation would give you from 2021 to 2022. And that’s when the 40k figure came from. So, the implication is still fairly positive.
The figure referenced in this tweet is likely referring to the 2021 net compensation chart we saw making the rounds a few weeks back. Indeed, it’s correct, ~50% of all Americans made less than 35k per year in net total compensation in 2021.
In 2022, that figure rose to ~40k. So the trend is going in the right direction, at least. And IIRC, the chart does include teenagers, college students, people working part time or underemployed, etc.
50k 2023 https://dqydj.com/average-median-top-individual-income-percentiles/
The difference between top 10% and top 1% is shocking. And if they included 0.1% it would probably make all the other bars too small to see the difference at all.
My favorite calculator/article from that website is the debt one. For the longest time the bottom 10% held negative wealth. Only recently did we move that number down to bottom 7% under biden
35->40 is roughly what inflation would give you from 2021 to now.
35->38 is roughly what inflation would give you from 2021 to 2022. And that’s when the 40k figure came from. So, the implication is still fairly positive.
Also, that first “stop” sentence is a bit ‘ironic’, considering that statistically, in the US at least, the poorer you are, the more children you have.