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That’ll be Why the Median is Barely Over 40 (lemmy.world)

submitted 11 months ago* (last edited 11 months ago) by alphanerd4@lemmy.world to c/usauthoritarianism@lemmy.world

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Snopes

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[–] Xanthrax@lemmy.world 8 points 11 months ago* (last edited 11 months ago) (3 children)

Guys, stop trying to figure out the average. You guys should look for the mode (the most common income, not all income added and divided).

Edit: If anyone has the mode for american income, I'd love to hear it. I can't find it. Just the median and average.

[–] bort@sopuli.xyz 29 points 11 months ago (3 children)

the mode is probably 0.

e.g. there are plenty of people with exactly 0 income. there are few people with exactly another income.

[–] onion@feddit.de 7 points 11 months ago

Yup, Wikipedia says all exponential distributions have mode 0

https://en.wikipedia.org/wiki/Exponential_distribution

[–] pivot_root@lemmy.world 6 points 11 months ago (1 children)

It might work a bit better if incomes were bucketed into 5k brackets before taking the mode. From there, I guess you can take the mean or median of all the incomes that comprise the bucket?

[–] onion@feddit.de 6 points 11 months ago* (last edited 11 months ago) (2 children)

It would still always be the lowest bracket, because most people make little and few people make much.

If you look at the horizontal lines here you get 50k brackets:
https://fourpillarfreedom.com/wp-content/uploads/2018/11/ind_inc0-1.jpg

The first bracket is ~65% of the population, the second bracket ~25%, the third bracket ~5%

[–] zout@fedia.io 4 points 11 months ago

Maybe as a rule of thumb it would always be the lowest bracket for the US. I live in the Netherlands, and the mode here is as a rule of thumb about 79% of the average. This gives a mode of 44000 euros annually. So it doesn't have to be the lowest bracket.

[–] pivot_root@lemmy.world 2 points 11 months ago

Well, that's depressing.

[–] Maggoty@lemmy.world 1 points 11 months ago

That's not helpful though.

[–] AngryCommieKender@lemmy.world 4 points 11 months ago* (last edited 11 months ago)

Got this from a thread further up. This seems to indicate that the national Mode is $15k - $20k

[–] zout@fedia.io 1 points 11 months ago (1 children)

Isn't this different for each state?

[–] Xanthrax@lemmy.world 3 points 11 months ago

Yes. That's another good thing to get into. If you have the resources, please do everything you can to bring wealth inequality into the limelite.