Debunking Pessimistic Claims about Wages, Profits, and Wealth

Heritage Foundation report examines claims that recent economic growth isn’t benefitting workers – i.e. “the rich are getting richer while the poor are getting poorer”. The study finds, instead, that more households are earning higher incomes (adjusted for inflation), household wealth is rising, families are better off in terms of housing and consumable goods, total compensation (including benefits) has risen, and a variety of other points which lead to the conclusion that “everyone is getting richer”.