Tuesday, September 15, 2020

"Gilded Age Levels"

"Prior to the mid-1970s, Americans' incomes, no matter their level, generally rose in step with overall economic growth. But that changed in the late 1970s, with the rich capturing the lion's share of economic growth, while middle-class and lower-income workers eked out gains far below par."

Aimee Picchi at CBS News writes that "[i]n 2018, the typical full-time worker earned about $50,000—but if that same worker had kept up with the economy's expansion, they would have earned $92,000 annually."

No comments: