Remaining Stable: Labor's Share of Income Stays Constant

The video discusses the misconception that labor's share of the economy is decreasing, explaining that when adjusted for depreciation and changes in self-employment income measurement, labor's share has remained stable since 1948. The video highlights the difference between gross and net income, emphasizing the impact of depreciation due to increased use of technology. It also addresses concerns about income distribution, noting that while income has grown at the top and bottom, the middle class has seen less growth.

According to the speaker, what changes occurred in the measurement of self-employment income by the Bureau of Labor Statistics?

What does the Congressional Budget Office data reveal about income growth across different levels of the income distribution?