That’s simple, wage/wealth growth is disproportionately skewed by the top 5%.

Apr 18, 2023
7:53:53am

Atmospheric_Cougar All-American

That’s why you can’t take the overall average like you suggest. Outliers (billionaires) severely skew the data.

3 Billionaires in the US have as much wealth as 160 million Americans combined. It’s safe to say they skew the data.

The US has a ruling class – and Americans must stand up to it | US politics | The Guardian

In the year 2022, three multibillionaires own more wealth than the bottom half of American society – 160 million Americans. This is unsustainable

https://amp.theguardian.com/commentisfree/2022/sep/02/the-us-has-a-ruling-class-and-americans-must-stand-up-to-it

According to Pew Research, the middle class has been shrinking since the 1970s. How could that be if we have it better today than your parents did back then? The reality is that the middle class has decreased from 61% in 1971 to 51% in 2019. Here is the link:

Pew Research Center’s Social & Demographic Trends Project

1. Trends in income and wealth inequality

Barely 10 years past the end of the Great Recession in 2009, the U.S. economy is doing well on several fronts. The labor market is on a job-creating

https://www.pewresearch.org/social-trends/2020/01/09/trends-in-income-and-wealth-inequality/

This is the reason why the wealth gap continues to get worse and worse. The Uber wealthy continue to grow their net worth at a much faster pace than the working class.

Pew Research Center’s Social & Demographic Trends Project

The gaps in wealth between upper-income and middle- and lower-income families are rising, and the share held by middle-income families is falling

Social & Demographic Trends

https://www.pewresearch.org/social-trends/2020/01/09/trends-in-income-and-wealth-inequality/psdt_01-10-20_economic-inequality_1-4/[https://www.pewresearch.org/social-trends/?attachment_id=27691]

Again, when it comes to the most important necessities in life such as housing, education, and health care, they are all way less affordable today then they were in the 1970s. It’s not cherry picking data, it’s picking the necessities.

And as for your McMansion like you like to say, check out these huge homes for sale in SLC, you’re telling me these were more expensive in the 1970s right?

Zillow

151 S 1000 E, Salt Lake City, UT 84102 | MLS #1871195 | Zillow

151 S 1000 E , Salt Lake City, UT 84102-1402 is a single-family home listed for-sale at $649,000. The 1,128 sq. ft. home is a 2 bed, 2.0 bath property. View more property details, sales history and Zestimate data on Zillow. MLS # 1871195

https://www.zillow.com/homedetails/151-S-1000-E-Salt-Lake-City-UT-84102/12753633_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

Zillow

2067 E Crystal Ave, Salt Lake City, UT 84109 | MLS #1870806 | Zillow

2067 E Crystal Ave , Salt Lake City, UT 84109-1704 is a single-family home listed for-sale at $625,000. The 1,776 sq. ft. home is a 4 bed, 2.0 bath property. View more property details, sales history and Zestimate data on Zillow. MLS # 1870806

https://www.zillow.com/homedetails/2067-E-Crystal-Ave-Salt-Lake-City-UT-84109/12779313_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

Zillow

226 W Montrose Ave, Salt Lake City, UT 84101 | MLS #1870665 | Zillow

226 W Montrose Ave , Salt Lake City, UT 84101-2721 is a single-family home listed for-sale at $550,000. The 1,120 sq. ft. home is a 2 bed, 2.0 bath property. View more property details, sales history and Zestimate data on Zillow. MLS # 1870665

https://www.zillow.com/homedetails/226-W-Montrose-Ave-Salt-Lake-City-UT-84101/305057118_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

2 bed/ 2 bath home with 1,200 square feet, built in 1906 for over $500k. Does that sound like a mansion to you? 😂😂😂