Oh No, I did acknowledge downward mobility. You can look back to the first post I posted in response to your income inequality comment and you can see I mention downward mobility. Downward mobility can be cause by a number of things, someone loosing their business, someone retiring, a person selling their house they move up the income bracket then when they buy a new house they move back down.I've semi-addressed this already. There are those who have entered upperclass from middleclass. This is where things get lost. You claim some have upward mobility but also ignore the downward mobility. Equal parts of people who entered upper class have fallen into lower class. We've also significantly increased the proportion of people in dual income families. We had the dot com boom, more automation, the highest worker productivity in human history, and in the end we've only obtained upward mobility for a minority. If you want to talk to individual people than you can. But multi-generational statistical trends are going to be more objective than anecdotes.
Below is a link that is a good read - It's alot but you have to start somewhere.
https://www.bls.gov/opub/btn/volume-6/understanding-the-labor-productivity-and-compensation-gap.htm
One income families vs two income families. There was a time when one income would be sufficient for most families, would nearly guarantee entrance into middle-class if two incomes were available. We've long lost that option and more american families are forced to have dual incomes to stay afloat. The reasoning behind this pressure for dual incomes is to secure medical benefits and provide a safety net to pay loans/bills if the other spouse is in-between jobs or the employer offers unsatisfactory benefits.
https://www.pewresearch.org/fact-tank/2019/06/12/fathers-day-facts/
"As of 2016, about a quarter of couples (27%) who live with children younger than 18 were in families where only the father works. This marked a dramatic change from 1970, when almost half of these couples (47%) were in families where only the dad worked. The share of couples living in dual-earner families has risen significantly and now comprises the majority of two-parent families with children."
I just want to drive this home about the dual income families that I didn't before. The fact that there is a significant increase in household with dual incomes and that there is not even more people in the middle and upper income bracket is further confirmation that something is broken.
There are some societal factors impacting the dip in dual income at the end, since 2000s, stay at home fathers have emerged. Mr. Moms if you will. There also is a divorce rate influence, but since divorce impacts all social classes, and an equal part of those divorce also remarry, I exclude it.
I am concluding my provision of economic information that is way off-topic. If you need more you have ample resources at your disposal. You don't need me to write essays to continue to inform you. If you want any further discussion with me you will need to provide stats and analysis. I can't just talk about anecdotes. If anyone was to actually support economic policy of any kind I would expect the math to support it or I would declare them a lunatic and move on.
I would say the increase in proportions of dual income families is a positive. I prefer women entering the workforce, 1) Women are not forced to be stay at home moms, and 2) dual income means more disposable income for families. Its an all around positive.
So there is an increase in wages as productivity rose, your chart shows people making more then they did in the past. It's just that wages having kept up equally with productivity. Its newer machines and robots that have increased productivity not that humans are working harder. If a company invests millions of dollars in new machines and technology who should reap the benefits of the increased productivity? Because the increased productivity was generated by the owners investment not the workers. I think technology is creating this gap. And I can only assume the democratic position is that even though all that extra money is being generated by the owners investment making him the one entitled to that money, we have to create law to redistribute that money to the workers. Basically making people nowadays earning more for less work compared to their past ancestors.