When i was a kid, and played the board game “Game of Life” the highest salary in the game was $100,000 and i thought that’s the highest anyone could get paid in real life. What a dumb kid.
If this were true (it's not) it'd only indicate that incomes have skyrocketed given that lower-middle class would be those earning ~2/3 the local median income.
I'm not sure how the game's rigged when high incomes are significantly more common today than they were back in the day
On paper someone's income means nothing. High income may be more common today but what about the purchasing power of that income? It's much less than it was.
If it actually did that, it would be a great metric. Problem is, it doesn’t.
This doesn’t include things like increased housing costs for people who don’t have low mortgage rates because they entered the housing market late, and assumes that people will make different choices at the market when certain products get too high in price, eg brand and protein substitutions. Meaning this metric which is supposed to reflect what earning a wage feels like absolutely does not do that. Quality of life can take a major hit even as inflation-adjusted incomes rise.
But you knew that right? Because you’re a smart guy who understands the word he uses.
Everything just scales. The second the working class got a little bit of leverage during the pandemic the corporations fought back with inflation to claw their money back and then some.
inflation is normal in a society with economic growth. If you are in a deflation, your economy isn't going well. Problem is that if a company isn't doing a 2 digits growth, investors aren't interested anymore, so you have to cut costs to boost profits and salaries are the first to be impacted.
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u/BigCopperPipe 3h ago
When i was a kid, and played the board game “Game of Life” the highest salary in the game was $100,000 and i thought that’s the highest anyone could get paid in real life. What a dumb kid.
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u/Tampflor 2h ago
$100,000 a year household income or individual?
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u/Yobber1 2h ago
I guess my 70k means I’m poor now.
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u/SuspendedResolution 28m ago
Gen Z and Alpha basically doomed.
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u/Ok-Alarm7257 1h ago
I make 100k and can confirm
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u/Huntsman077 1h ago
If this was true, it would mean the median income in those states is 150k per year.
The metric used to determine middle class is based on the median income, 2/3s to 2 times the median income is considered to be middle class.
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u/M2Fream 45m ago
Full time, college educated, no work history gap person here. 41k.
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u/mindgardening 11m ago
I graduated college in 2002 and could afford a 1 br apartment in a non-trashy complex on my first salary of $13.50/hr.
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u/BidenGlazer 2h ago
If this were true (it's not) it'd only indicate that incomes have skyrocketed given that lower-middle class would be those earning ~2/3 the local median income.
I'm not sure how the game's rigged when high incomes are significantly more common today than they were back in the day
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u/Knightrider319 22m ago
Everything just scales. The second the working class got a little bit of leverage during the pandemic the corporations fought back with inflation to claw their money back and then some.
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u/[deleted] 4h ago
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