The tweet was deleted by the author.
But we saved everything 🙂.
Eric Basmajian highlights a shift in the sources of American personal income.
According to Basmajian, the proportion of income derived from wages has fallen from 73% in 1970 to 60.5% today. In contrast, income from assets and transfers, such as Social Security and Medicare, has risen from 23% to 39% over the same period.
Basmajian previously reported that corporate profit margins have reached a record high of 20.6 percent while worker pay has trended downward, according to recent data. He has also observed that the worst and best three-month periods for stocks often take place during a recession, as noted in prior analysis. These observations add context to the changing composition of personal income in the U.S.