Consumer Spending and Inequality Denial – NYTimes.com


…there’s a much bigger bait and switch here. Remember, the question is what’s happening to the middle class. Nobody questions the fact that America has grown richer over the past several decades. The question is whether that growing wealth has trickled down to ordinary families, or gone mainly to a small elite. Yet when Boudreaux and Perry invoke consumer data, it’s data for all households — in effect, mixing the top quintile (and the top 1 percent) with the middle class.

via Consumer Spending and Inequality Denial – NYTimes.com.

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