This is a real decline not inflation adjusted. When the child tax credit and the stimulus money was given out, the lower half of the individuals spent their mon

This is a real decline not inflation adjusted. When the child tax credit and the stimulus money was given out, the lower half of the individuals spent their money quickly. This is a long standing economic fact as your income grows your ability to spend it all efficiently and especially quickly declines. There are huge differences in the velocity of income circulation between the bottom quintile and the top quintile. It gets easier to wait to make a big purchase when your not hand to mouth so the 2017 tax cuts along with their punitive incremental middle class tax hikes every odd tax year through 2017. That tax bill made the wealthy tax cuts permanent but has a stealth increase every odd tax year, which are reductions in temporary adjustments to pull the wool over our eyes. The GOP gamed the way the CBO scores bills actual costs with this monstrosity. The top quintile isn't creating jobs they are enjoying their higher interest rates while they wait for bargains to materialize later.