More end of the year chart-dump goodness. This from the Economic Policy Institute and the share of total wealth gain:
As with any single piece of information in the complex picture of our national economy, such a chart can come with many caveats. The most obvious one is that this chart only covers wealth, not income. It’s true that the average income has risen, and here’s another chart showing as much:
Yet again this comes with several caveats, namely the absolute rise in standard of living whether you start at 1918 or 1983. Or that after tax transfers have increased over similar periods of time. Again, these are true and should always be pointed out. However, those that argue only in absolutes – as opposed to, you know, relative comparisons – in my experience are advocating for the continuation of the status quo. Which is effectively an argument that we can’t do things better.