Here in the Midwest, $50,000 a year is a very livable wage. Under your calculations of a good place to start, that would equal an income of $1,250,000,000 ($1.25 billion). How many individuals in the US have that kind of personal income?...none that I can find.
In 2018 only 205 individuals earned over $50 million, while 938 made between $20-50 million (including guys like Lebron James, Mike Trout and Clayton Kershaw). So about 1200 people made more than $20 million a year, out of approximately 130 million people who were employed in the US. In other words, .0000092 of the American workforce...
I for one, don't think that is a viable place to start, which means that the bar will be lowered, then lowered again....etc. So, again...
where does it stop?
https://www.marketwatch.com/story/heres-how-many-people-make-more-than-50-million-per-year-in-wages-2018-10-18