- cross-posted to:
- housing_bubble_2@lemmy.world
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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.
Proof: Average income in top 1% is 819k https://www.unbiased.com/discover/banking/how-much-income-puts-you-in-the-top-1-5-or-10#:~:text=To be in the top 1%25 of earners%2C you’,earn%20an%20average%20of%20%243%2C312%2C693.
Solve the weighted average:
819 * 0.01 + x*0.99 = 74.5
Where x is the remaining average. X≈66.3k, and that’s excluding the ENTIRE 1% which is over a MILLION people at least, depending on how you count it. America is big.
I guess the lesson here is don’t trust unsourced factual claims in political memes because they are probably just made up
You mean information on an obvious anti-US propaganda community might not be particularly high quality?
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.
Ackchyually ☝️🤓
🤨 you good?
Judging by their recent comments, no no they are not
Yeesh. They’ve got a struggling mind.
Is this fact/accurate??
Excluding top 1000 drops the average in half??
Definitely a reason to only ever use median instead.
Median is the middle point of the population and has its place when the range doesn’t skew too much. I think a good representation of income is by percentages, as in “90% of people make $x,000 or below”. This chart had dated (2010) data but its a better representation than I’ve found elsewhere
