04 October 2011
Are you saying incomes in the middle have not fallen?
Yes, that's what I'm saying. (I'm also saying that this understates the case because it ignores the value of noncash employment benefits (wich were 29% of total compensation in 2004 and 30.5% in 2011) and government transfers (which have increased by about 12% of personal income (from 6% of average income to 18%) from 1967 to 2011.)
Posted by David at 5:20 PM