July 10, 2024
Has Income Growth between Generations of Americans Stalled?
A defining aspect of the American dream is that the economic well-being of each generation surpasses that of the previous one. However, commentators have questioned whether this holds true for the most recent generations. A 2022 Gallup poll found that only 42 percent of Americans expect today’s young people to have a better life than…
December 14, 2023
The Myth of the 1%
The skewing of income toward the top 1% of earners has become a central issue in American politics, with both Republicans and Democrats proposing higher taxes on the rich. But new research finds that it may not be true, suggesting that policymakers would do better to focus more on helping the working class. WASHINGTON, DC—For…
August 3, 2023
Does Money (and Economic Growth) Buy Happiness?
Sure, economic growth may allow us to buy more stuff, buy cooler stuff, help us to live longer, and give us the resources to solve big problems such as global poverty and climate change. That’s fine, I guess. But do the higher incomes that come from economic growth make us, you know, happier? Do they,…
June 14, 2023
Better Data Means Better Policy
“Did you adjust for inflation?” An occupational inconvenience of doing economic research is that you are routinely asked by disbelieving non-researchers whether your numbers have taken into account the rising cost of living. The answer to that question is nearly always, “Yes.” The debates among researchers are about how to adjust earnings and income for inflation, and…
June 8, 2023
Work Improves Mental Health
Since President Joe Biden signed the Fiscal Responsibility Act of 2023 (FRA) into law, countless news stories have detailed how thousands of low-income Americans will be negatively impacted by new work requirements in the Supplemental Nutrition Assistance Program (SNAP). A narrow work requirement has long existed in SNAP, but changes in the FRA raised the age of SNAP’s…
December 15, 2022
The Myth of Income Stagnation
According to the conventional wisdom, income stagnation and inequality are large and growing threats to broad-based prosperity in the United States. Many economists, journalists, business leaders, and elected leaders (from both parties) believe that for a large share of households, real (inflation-adjusted) income has not increased for decades, and that income inequality – the gap between higher- and lower-income households –…
December 14, 2022
Bringing Home the Bacon: Have Trends in Men’s Pay Weakened the Traditional Family?
Key Points
June 10, 2021
Long Shadows: The Black-White Gap in Multigenerational Poverty
Key Points Executive Summary Issues of racial inequality and injustice are center stage in America today—especially the position and treatment of Black Americans. This report presents evidence on long-term differences in opportunity by race. Previous research showed large racial gaps in poverty and mobility across two generations. We take a longer view, examining patterns of…