Everything you know about income inequality, poverty, and other measures of economic well‐being in America is WRONG.
A #CatoEcon 🧵… cato.org/study/myth-ame…
Income inequality has been falling for the past 70 years.
Indeed, the facts reveal a very different & better America than the one currently described in debates across much of the political spectrum.
cato.org/study/myth-ame… #CatoEcon
Today, most people are economically as prosperous as many people in the top 20% were 50 years ago.
cato.org/study/myth-ame… #CatoEcon
Almost all children grow up to earn more real income than their parents and experience rising incomes within their own lifetimes—partly because more Americans achieve higher levels of education, and more women are in the labor force.
cato.org/study/myth-ame… #CatoEcon
The American dream of rising income is alive and well.
What we can work on is our national commitment to equality of opportunity by bringing work‐age adults back into the economy.
cato.org/study/myth-ame… #CatoEcon
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