He's making a huge mistake by applying averages to EVERYONE. He does this routinely: "Bottom line: every individual in the country became wealthier over time.

He's making a huge mistake by applying averages to EVERYONE. He does this routinely: "Bottom line: every individual in the country became wealthier over time. I’m not talking about companies, I’m talking about individuals. This is why, for centuries, every American child fully expected to do better than his/her parents. Every parent’s dream of seeing his/her children do well (financially) came true." The problem is, that was never entirely true (clearly not everyone did better than their parents) and it's become less true over time, especially since the 1980's. Since then we've had a seismic shift of wealth away from the middle class and to the upper class. The fact is that the average middle class American is doing about the same as their parents, while the average rich American is doing much better. The why of this is debated. It's some combination of Reaganomics and globalization. But the fact is that simply adding a percent of growth won't help the problem if it all goes to the rich.