What is the problem with using income to describe wealth?

Answer 1

If you consider income alone, you ignore other factors such as how much tax the government takes, or how many dependents the person has. One income may make a single person wealthy, but would make a father of seven poor.

Answer 2

One may have wealth in the form of land, building, jewelry, and other types of assets, but these need give no income to the owner. One may have income like pay, tips, gifts received, etc., but these may not constitute wealth unless these are retained.
Income could be generated from assets that consitute wealth, and if this income is not spent, it would be a part of wealth.
Income is something of financial value that is generated by employing a resource (like effort, assets, time, etc.) while wealth is not necessarily only of financial relevance: one can talk about wealth of ideas, wealth of information, etc which are not tangible like bank balance, stocks held, property, etc.

Answer 3

Income can only be used to describe material wealth. There is also wealth of spirit to be considered.

Answer 4

For me, income doesn´t say much abourh wealth.
For example
One can have a big income and bigger expences...
or big income and bigger debt
or no income, but huge family wealth...