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JUL 16, 2013 - Zero Hedge

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Guest Post: About That "Incomes Are Rising" Claim...

Submitted by Charles Hugh-Smith of OfTwoMinds blog, This is how State-corporate media propaganda works in our era. The mainstream media is claiming that "The aggregate amount of money in paychecks is increasing about twice as fast as GDP." (Source) This story points to Bureau of Labor Statistics data to support this claim. Rising aggregate household income doesn't tell the real story, which is: 1. Most of the income gains flow to the top 10% 2. Thanks to rising taxes, healthcare and other costs, household net income for the bottom 90% is declining. The mainstream ... Read More

Tags: Guest Post: About That "Incomes Are Rising" Claim...,  Taxes Latest News