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Another well-regarded source is the congressional budget office. The data linked below from 2014 is even more optimistic than my previous data because it uses h
by mech1234 7y ago
Another well-regarded source is the congressional budget office. The data linked below from 2014 is even more optimistic than my previous data because it uses household income instead of individual income. (because the distribution of individual incomes is skewed and growing even more skewed, median household incomes grow faster than individual incomes). The CBO data shows 26.1% growth in the incomes of middle quintile households since 1979. This growth is larger if you look at the lowest quintile, include taxes and transfers, or do both. The data goes up to 2014 and would show larger growth still if it went all the way to 2019.
https://www.cbo.gov/publication/53597 https://www.cbo.gov/publication/53597
- viklove 7y agoIs that just because more people are opting to live with their parents because they can't afford their own rent?
- mech1234 7y agoNo. Household sizes have been getting smaller, not larger, over time. It would be pretty far-fetched for the combinatorial effects of mixed-income households to boost the median in spite of this.
- viklove 7y agoWell, people are having less children now than ever before. That doesn't mean those children are moving out when they reach adulthood.