While middle class incomes grew, it really has been a great few years for the rich.pic.twitter.com/JPBaotXgnH
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While middle class incomes grew, it really has been a great few years for the rich.pic.twitter.com/JPBaotXgnH
Real income growth from 2008 to 2016: 10th percentile (ie the poor): +0.4% Median: +5.3% 90th percentile: +10.6%
The Gini index summarizes inequality. Pessimists reading: It just keeps rising over time! Optimist: It barely moved over the past few years.pic.twitter.com/o3ZwtrWOOL
Women's earnings are slowly catching up to men's. Today the median woman (who works full-time) earns four-fifths that of the median man.pic.twitter.com/2rbQc4sjr2
There's no missing the substantial decline in poverty. A declining unemployment rate is the greatest anti-poverty program we know.pic.twitter.com/Ks226QMeLx
The poverty rate has fallen particularly dramatically for African-Americans.pic.twitter.com/Ri0qHBGJun
A little surprising to see elderly poverty rate up. Could be a blip, but it bears watching.pic.twitter.com/4piNu31FeF
Lemme make an obvious point: What keeps the poverty rate down? The social safety net.pic.twitter.com/lyeLzf1RJj
The most amazing fact remains that Real Median Household income in 2016 ($59,039) is barely above that in 1999 ($58,544).pic.twitter.com/5HqdUGHzOK
Point is, for the American middle class, it hasn't just been a lost decade. It's pretty much a lost two decades. An urgent economic crisis.
More like a secular civilizational decline.
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