Got it, I agree with you that this can be what’s going on! When the intuition is spelled out we clearly see the “trick” is comparing individual incomes as if they were comparable to household incomes.
Living in the Bay Area, I think some of my friends do forget that in addition to being extremely rich by international standards, they are also somewhere between fairly and extremely rich by American standards as well.
Got it, I agree with you that this can be what’s going on! When the intuition is spelled out we clearly see the “trick” is comparing individual incomes as if they were comparable to household incomes.
Living in the Bay Area, I think some of my friends do forget that in addition to being extremely rich by international standards, they are also somewhere between fairly and extremely rich by American standards as well.