Your Neighbor’s Fancy Car

“Americans in the bottom one-fifth of the distribution saw their real net incomes climb by almost 50 percent [since the late 1970s], those in the middle fifth of the distribution saw their incomes grow 36 percent. It’s worth remembering that anytime someone says the gap between rich and poor is increasing, what he usually means is that rich people are getting richer faster than poor people are getting richer—not that any group is becoming worse off overall.”

Gary Burtless, Brookings economist

Read John V.C. Nye’s full article HERE

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