When income growth hits a brick wall: From 1949 to 1979 over 60 percent of all income growth went to the bottom 90 percent. After that, things changed for the middle class.
Posted by UncommonSense 9 years, 6 months ago to Economics
Where's your $$ going? Things that make you go 'hmmm'.
I also wonder (though correlation is not necessarily causation) how a comparison of a graph of government growth/spending alongside of the provided graph might coincide...
While I don't know about your situation, my financial side, while the salary is fine (slightly stagnating), my expenses have gone up. I have compared prices of choice items from today to what I paid 4 years ago (yes, I keep records) and the inflation is what's causing my expenses to rise, not my demand or quantity.
But I'm still not comfortable with describing things in the terminology and emphasis utilized by the author, 'income growth' instead of inflationary spiral (wage increases chasing inflationary costs generated from decreased dollar value). The terminology tries to shift cause and affect from government caused inflation to the payer of wages.
In as much as the 1% utilize the ability of government influence to protect their buying power that aren't available to the rest of us-I don't like that. But that should still be in indictment of the government-not just those able to utilize the government inspired manipulations.
I encounter too many people blaming the 1% instead of what we've allowed our government to become.