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Clark should know better than to use a statistic like Average Income. This is a joke among economists ... the classic "Bill Gates walks into a bar" scenario. Five guys sitting in a bar making an average of $30,000 per year, and in walks Bill Gates and all of a sudden the average income is in the hundreds of millions. The better statistic is Median Income (the income of the person at the 50th percentile - the guy in the middle). Family Median Income rose 16% from 1973 to 2005 (not 40% like Clark said - that was the average, and the effect of the super rich). During this period many households went from 1 earner to 2 earner, so the average guy is working more to stay the same, or get ahead slightly. So, in the future I'll be more careful when I'm listening to Clark ... and more critical.
By David Luhr
