Professor Mark Perry Has A Lesson on Income Statistics

1. The income is adjusted for inflation.
2. The average size of a US household has declined over time and reached an all-time low in 2018 of 2.52, so the increase in household income since 1967 (37.8%) actually understates the increase in income per household member of 79.3%. https://t.co/bec9Zt5OoB

— Mark J. Perry (@Mark_J_Perry) September 12, 2019