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Thomas Sowell Quote

The fundamental confusion that makes income bracket data and individual income data seem mutually contradictory is the implicit assumption that people in particular income brackets at a given time are an enduring class at that level. If that were true, then trends over time in comparisons between income brackets would be the same as trends over time between individuals. Because that is not the case, the two sets of statistics lead not only to different conclusions but even opposite conclusions.

Thomas Sowell

The fundamental confusion that makes income bracket data and individual income data seem mutually contradictory is the implicit assumption that people in particular income brackets at a given time are an enduring class at that level. If that were true, then trends over time in comparisons between income brackets would be the same as trends over time between individuals. Because that is not the case, the two sets of statistics lead not only to different conclusions but even opposite conclusions.

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