It does, but the numbers aren't accurate and wouldn't significantly affect the average. It's trying to do median, even though it says average at the end, but either way, it's not close to correct.
I agree w/ what it's trying to say, but mathematically, it's embarrassingly wrong.
You trying to say it means median is pathetic. It clearly says average. What secret information are you claiming to have to claim it actually means median? And what isn’t correct? Excluding the top incomes would certainly lower the average.
This blog starts with the flawed assumption, “If you assume that the total population of the United States is 333 million, then this formula indicates that the top 10 earners in the United States make an average of $316 billion.” There aren’t 333 million people employed in America. So try again.
Comments
Median income isn't impacted by removing top earners.
I agree w/ what it's trying to say, but mathematically, it's embarrassingly wrong.
Is this ubber important to you?
https://www.charlespetzold.com/blog/2024/06/That-Bullshit-Income-Inequality-Meme.html
#RaiseMinimumWage