Facts of course have never gotten in the way of Jim Webb's fanciful (he is a novelist after all) view of the America he knows so little about. So expect him to continue his rant about the rich.
The Wages of Growth
The Wall Street Journal
The latest reports on wages and income have been rolling in, and with them we can discount one more canard about the current economic expansion--namely, that wages are stagnant and workers are doing far more poorly than they did in that second Age of Pericles known as the 1990s.
Over the past year, the real average wage for non-supervisory employees has risen 2.8%. That equates to about a $1,200 increase in purchasing power for the typical household this year. Last year, real median household income was also up 1.1% after inflation. This rise in take-home pay helps to explain how Americans have had the disposable income this Christmas shopping season to pay $600 for PlayStation 3 computer games and $150 for the Kid-Tough Digital Camera for three-year-olds. (link)
But as it turns out, we're doing quite well. Let the good times continue to roll.