Voters must shake up Washington if they want a more prosperous future.
Janet Yellen and the Federal Reserve have pronounced 2 percent annual economic growth — perhaps a bit less — the new normal. Factoring in labor force growth that implies 1 percent growth for productivity and +* pre-tax wages, hardly anyone is average these days.
Workers are supporting — through taxes for government benefits — more retirees and prime-age adults who choose not to work at all.
Earned income from wages and other sources continues to become less equal. New technologies — robots in warehouses, apps that replace taxi dispatchers and the like — are eliminating jobs and driving down wages for ordinary workers. Meanwhile, those with degrees from the most prestigious universities or with training in science, engineering and technology enjoy rising incomes.
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