Quote:
Originally Posted by Clarallel
The New York Times did a special section on this, with ten items. Here are some of them.
1. The Recovery Threw the Middle-Class Dream Under a Benz
By Nelson D. Schwartz
Data from the Federal Reserve show that over the last decade and a half, the proportion of family income from wages has dropped from nearly 70 percent to just under 61 percent. It’s an extraordinary shift, driven largely by the investment profits of the very wealthy.
https://www.nytimes.com/2018/09/12/b...al-crisis.html
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Three things it isn't clear that the author even considered, but they didn't support the point the author was trying to make. First, the employment rate (% working of working age) 15 years ago was about 63% and today it's about 60%. Second, 15 years ago there about 40 million retirees receiving social security and today it's about 52 million (+30%). Third, there has been money made in the stock market over the last decade, some made quite a bit. But everyone who was invested at all made money, including those with 401ks, 403bs, IRAs, regardless of the amounts. If people don't invest, they don't get the returns.
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