The Economy Is Doing Well, But Ordinary People Not So Much

Here’s another chart for you if you want a better sense of just how well the economy has been working for everyone over the past couple of decades:

Generally speaking, household income peaked in 1999 and has gone up and down since then. But for some, it’s been more down than up. Even after 110 months of expansion, the lowest earners make nearly 10 percent less than they did during the last economic peak. The top fifth, by contrast, earns 11 percent more than they did during the dotcom peak.

It’s been a tough 20 years. The poor have done abysmally; the middle class has stagnated; and even the affluent have only improved their earnings moderately. Meanwhile, real GDP per capita has increased a very nice 23 percent since 1999. So if GDP is up 23 percent, but even the affluent are up only 11 percent, where has all the money gone? The Census Bureau doesn’t tell us, but I’m sure you’ve already guessed: to the really, really rich. It’s a good time in America to be part of the top 1 percent.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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