Right now, the median household income in the US is $67,521 and the mean income is $71,300.
Right, which is that high because of incomes at the top that are bringing it up.
If you subtract the income of the top 1%, what becomes the median household income?
This is just like when you were caught lying about wages growing during Trump. You said that wages grew by 3.1% after Trump's tax cut, except that wages for the top 1% grew by
3.7%, while the median HH income only grew by
0.5%, which turns to a negative number when you factor inflation.
What you like to do is take a very general number and apply it to everything evenly, because that's what sophists do.
But that always gets smacked down because you aren't a detail-oriented person, and these things inevitably end up in the details. So here's an example of catching the lie:
Wage growth accelerates for workers, but salaries for the 1% just reached a new high
So you would run with that general headline to prove that Trump's tax cut grew people's wages, however, when we dive into the numbers in greater detail, we see something very troubling:
So remember that 3.1% number because it's going to be important for the next part:
So wages generally grew by 3.1% in that example, but wages for the top 1% grew by 3.7%. So that means that wages for everyone else grew by much, much less than 3.1%.
So when talking about this, are you not placing more weight on the incomes of the 1% since they are placing more weight on wage growth?
In other words, wage growth appears to have only occurred for the top 1% since the median household income
only grew by 0.5% Y-o-Y for 2018-2019. Inflation over the same period was 1.8%, so wages declined for most workers in real dollars after the tax cut.