2/ No upward mobility? Around three-quarters of people in their 40s today have higher (inflation-adjusted) household incomes than their parents did when their parents were of similar age. And 72% of men raised in the working class earn more than their dads did.
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3/ Stagnant wages? Since summer 1990 (a peak in the business cycle), wages for the typical US worker have increased by 33%, after accounting for inflation.
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4/ Stagnant incomes? The median household saw market income gains of 21% between 1990 and 2016. Add in taxes and transfers and it’s 44%, according to
@USCBO. And the bottom 20% saw their post-tax-and-transfer income grow by 66% over these years.pic.twitter.com/PMrG36b7Bj
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5/ A hollowed-out middle class? From 1967-2018, there was a drop in the share of households with inflation-adjusted income between $35,000 and $100,000. BUT also a drop in those earning less. The share of households earning over $100,000 has tripled to 30%.
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6/ Rigged economy? Over the past four years, data from
@BLS_gov show weekly nominal earnings for workers in the bottom 10% have grown by 19%, over a third faster than growth at the median.Prikaži ovu nit -
7/ Soaring inequality? “While the level of inequality is relatively high, its growth for at least a decade has been quite slow, or even declining.” Example: The ratio of the 90th percentile of usual weekly earnings to the 10th percentile increased by only 2% between 2007-2019.
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Final/ The stagnation narrative is wrong. And rather than wallow in economic nostalgia — often for times past that never really existed for many Americans — let's learn from our successes and try to make tomorrow even better for all.
@MichaelRStrain concludes thusly:pic.twitter.com/cQ3Hb6C6NF
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Kraj razgovora
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Given the scope of the state--from EPA, to OSHA, to the Wager Act, and so many other regulations--are we really talking about "Capitalism" here?
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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Love this it shows an extraordinary character to be intelligent
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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You know, he makes these assertions but I have read directly contradictory assertions also. Whom are we to believe? I suspect that as usual it all depends exactly what you choose to measure and what the x and y axes of the graph are. Most people aren't sophisticated enough.
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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Čini se da učitavanje traje već neko vrijeme.
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data nuggets gleaned from this powerful analysis by