This is probably the first article on HN I wish I could downvote. Excluding inflation is super disingenuous. We may be spending more, but it's on the order of

This is probably the first article on HN I wish I could downvote. Excluding inflation is super disingenuous. We may be spending more, but it's on the order of 3-5% more (not counting debt spending), with the remainder of the income gain being wiped out by inflation. I will say the exercise analogy is actually very correct though. Income gain helps very little at all with wealth since it helps very little at all due to inflation.