Consider this, our economy relies on consumers, common sense has shown during the Covid era that durable goods and non durable goods, and services restaurants, bars, barbers, etc. circulate money on Main Street. When the retail market suffers the majority of consumers lose jobs and cannot pay their bills.
Explain this sentence and its impact on our entire economy:
"And many, as we see in your OP and links, confuse income with wealth"
BTW, I have both income and wealth (in real estate and stocks and bonds, FYI)
And when tinpot dictators a.k.a. state governors shut down the economies (without legal or Constitutional authority), forcing businesses to close and workers out of their jobs, all to deal with a virus not much worse than the annual flu, that's not the fault of the free enterprise~capitalism system.
Wealth is goods and/or services with market value, such that others will trade for with their goods and/or services (wealth).
Money is a device to circumvent the barter system and also used to measure wealth.
Basic Econ 101 and I've explained this often in other threads.
Some of the tables in your link charted wealth, others income. None seemed to factor in the impact of business, industry, and jobs shifting out of the USA and over to CCP China over the past four decades. Major flaw and oversight.
Here's another factor in form of a fable of sorts.
Bob and Charlie are the same race, gender/sex, social-economic strata, same levels of education and are employed in the same occupation, receiving the same salary and benefits(income).
Bob lives a frugal lifestyle, avoids debt and pays it often as quick as he can if he uses it. Bob also invests at least 10% or more of his pretax income into an IRA or 401K (especially if his employer provides matching contributions). Bob also is buying a house trying to pay off the mortgage early.
Charlie is "good time guy", rents an apartment, has his credit-lines maxed out and only makes the minimum monthly payments on them. He likes to party, especially at his favorite tavern/bar where he often "buys a round"(or two). Charlie will also place bets on various sporting events.
Whom do you think has more wealth?
Where does the system factor in versus personal choices and lifestyles?