[dragonwriter]

> GDP/capita typically measures economic wealth and is typically used to compared economies.

It measures total output, not quality of life for most people. Median income (when adjusted for PPP) is a better indicator of the latter.

> "Median income" does not account for cost of living

Using real median income accounts for that across time (for inflation), and using purchasing power parity (PPP) accounts for it across space (addressing different regional cost levels.)

[jntvjnvutnuvt]

Median income is not an objective measure to compare wealth. Again as I said below, it does not take into account non-income based compensation like food stamps, housing assistance or child tax credits. For example, Medicaid compensation for example is 3x of than the equivalent in Germany.

[dragonwriter]

> Median income is not an objective measure to compare wealth.

It is an objective measure, it is not (and neither is GDP/capita) a measure of wealth. Both are income measures, not wealth measures.

> it does not take into account non-income based compensation like food stamps, housing assistance or child tax credits

It can, when it is net of taxes and transfers, which is a fairly common stat (OECD uses it for comparisons, specifically becuase tax and benefit distribution varies considerably among OECD members.) But whether it is or isn’t is orthogonal to whether it is an objective measure, though it is releavnt to how good of a measure it is for various purposes (but for comparing common lifestyle, its better than GDP/capita, which doesn’t capture any aspect of distribution, in any case.)

> For example, Medicaid compensation for example is 3x of than the equivalent in Germany.

The US having ludicrously higher medical costs than Germany without better outcomes doesn't make government medical coverage for the indigent in the US better than for those covered than similar coverage in Germany. Might make it somewhat better for the healthcare providers receiving the compensation, I guess.