TRUE STATE OF THE UNION: WAGE-EARNERS' INCOME AND TAXES

True Private Wages have fallen -44.4%, falling at an annual rate of -8.64% since hitting a peak at the end of Q4 2007, coinciding with True Peak Credit of the Greenspan-Bernanke Inflation, the greatest credit bubble of mankind, ever.



No one should be surprised that True Wages as a percent of True GDP have been falling precisely because the True Average Income has been falling.



True Average Income has fallen -39.3% since hitting a the Greenspan-Bernanke bubble-fueled peak at the end of 2007. True Average Income has fallen at an annualized rate of almost -8% (-7.98%) a year.

As well, no one should be surprised that True Wages as a percent of True GDP have been falling precisely because Employment Incidence, or the ratio of workers to working-age population has fallen. 

 
Growth in working-age population continues to outpace job growth. This is a direct consequence of excess legal immigration that happened during the Clinton years. 

After hitting a peak at the end of Q1 2001, True Individual Taxes have fallen -47.6% falling at an annual rate of -4.77%. Thus, it fails to surprise to see True Individual Taxes as a percent of GDP shrink.