Thread by @Noahpinion

Inflation-adjusted median family income in the United States.

Basically:

1955-1972: Growth

1973-1983: Stagnation/decline

1984-1989: Growth

1990-1993: Decline

1994-2000: Growth

2001-2012: Stagnation/decline

2013-2019: Growth

Note that real median PERSONAL income, which doesn't depend on family size or the number of incomes per household etc., tracks real median family income almost exactly.

So yes, the above graph does give an accurate picture of income trends.

And note that although income has increased, this chart shows that in real terms, the median American was only about 44% richer in 2019 than in 1974.

Meanwhile, real GDP per capita was 120% higher.

That's called "rising inequality", folks.

See follow-up post going through a bunch of different measures of living standards:

https://twitter.com/Noahpinion/status/1399615800005120000