
Rise of single parent homes the prime factor in modest household income growth
Here’s four basic facts that almost no one knows about America:
1. Contrary to what our progressive pundits tell us, since 1967, real (inflation adjusted) household incomes HAVE risen — 43.3%.
2. During that time frame, PER PERSON real household income has risenmuchfaster — 86.5%.
3. Probably the biggest single factor keeping household income from being higher has been the rise of single parent households. The median household numbers have dropped from 3.28 people to 2.52 over this period. It dropped especially fast from 1967 to 1993 when our welfare state exploded, slowing only when tepid welfare reforms were initiated by the GOP and President Clinton. In essence, our benevolent government has paid people not to get married. It worked!
4. Since 1967 — like all groups — the black middle class has shrunk. But not the way people think. It’s a GOOD thing! That’s because there’s been a tremendous increase in the percent of blacks who now are in the “high-income” group — from 9.1% to 29.4%. And even though there has been a major drop in the percent of… Read More