(Not) Spreading the Wealth
20 Jun 2011
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1 Response to (Not) Spreading the Wealth
Matt
June 28th, 2011 at 11:52 am
That chart is total crap. It lumps 90% of the population together in a single group? Why? How many of those people were even alive in 1970?
The fact that the size of that group has grown by 50% and the total income has only decreased by 1% is an amazing feat. But the truth is those percentage groups aren’t the same people over time. In terms of income, we all start off at $0, but it would be absurd to compare a 60 year old to a 6 month old, or just an 18yo, would it not?
You need to compare *people* over time, not incomes: http://psidonline.isr.umich.edu/