It’s all based on the median household income. I feel like that isn’t the best representation if the median household is losing purchasing power over time due to wage stagnation, but it’s the definition they went with. From the article:
The report, which crunched the numbers for all 50 states, is based on Pew Research’s definition of middle class: two-thirds to double the median household income.
Yeah I see now. I think I can calculate a meaningful upper bound using the GINI index. I’ll see if I can work out numbers that look plausible, and make another post sometime.
It’s all based on the median household income. I feel like that isn’t the best representation if the median household is losing purchasing power over time due to wage stagnation, but it’s the definition they went with. From the article:
Yeah I see now. I think I can calculate a meaningful upper bound using the GINI index. I’ll see if I can work out numbers that look plausible, and make another post sometime.