Reply #33: Am I missing something... or does the entire article/chart neglect... [View All]

[krkaufman]

... to discuss the effect of inflation?

The only comment from article close to acknowledging that rising income for the bottom 20% may be moot was...

But since their incomes aren't growing as fast, they have a hard time keeping up, leading to what Frank calls "welfare loss." For example, as home prices rise, it becomes harder to afford a home in a neighborhood with good public schools.

But housing is just one factor. At what rate did the cost of living rise? I expect you'd find that the minimal gains of the bottom 20% were negated or outpaced by inflation.