Having 100k of household income doesn't mean much when cost of living is high.Sure. But a lot of those 40% are low-income for non-economic reasons: noncitizens. retirement, disability, illness, and school enrollment. I’m not going to pull CPS cross tabs right but the amount of people who would be doing better with better macroeconomic circumstances is a small minority
Real wages are up.
The 100K households own their home and thus rents don’t matter for them. They pay fixed rate mortgages. ~
This is a percentile which is impervious to outliers.
lol so 40% of households make >100K but that’s not “pretty small”. And as previously explained, a substantial portion of low income households are low income, not because of structural failings of the U.S. economy but because of physical conditions that would leave them low income regardless of what country or set of macroeconomic conditions they lived in.
And especially for a cohort everyone imagines: the college graduate with a decade out of college, they modally live riskless lives in the suburbs with stable employment as far as the eye can see. Like the general meme of “oh actually U.S. income is shared among very few people” gets to the level of lunacy when it’s “oh, meet bob, a sales manager for the Manitowoc Company, who lives in West Allis with his wife, a nurse practitioner for Aurora Health - both in their 40s clearing 130K a year and whom they met when they were students at UW-Milwaukee”
Households with over 100k are mostly located in higher cost of living states, and their purchasing power on those states is substantially lower, so their quality of life is not that much higher.