..I mean, are Americans really no better off than they were during the late 1970s? I hear that stated quite frequently. But this chart of real income growth tells a different story. Please note that all the lines have been headed higher. Also note the 79 percent gain for the bottom 20 percent in post-transfer/tax income:
The Left hardly EVER speaks about the massive transfer in wealth that is welfare and entitlement spending. For all their whelping about the cost of the US Military, that aforementioned spending DWARFS military spending in that it costs taxpayers well north of $1 Trillion / year. It IS about time that huge amount enters into the “conversation” given the large effect it has on actual income.
(H/T: AEIdeas)
