Our friends on the left believe (or at least claim to believe) that the United States is an unfair nation because the rich get richer and the poor get poorer.
More specifically, they assert that the economy is a fixed pie and that when people like Bill Gates and Jeff Bezos become rich, then there is less prosperity for everyone else.
This is grotesquely inaccurate, as I explained earlier this year.
We have a great opportunity to revisit this issue because the Census Bureau just released its annual report on Income and Poverty in the United States. I went to Table A2 and created this chart to show how inflation-adjusted income has increased over time for the average household.
In other words, families are earning more, no matter how we measure the average (“median” is the household in the middle and “mean” is the average of all…
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