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Wouldn't this be addressed by the fact that, as you said, we now have a new standard of multi-income households?

If everyone in America was in a single-income household, and then we all became, for instance, two-income households, wouldn't it make sense for individual incomes to drop by half?

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Two-income households caused wages to drop due to labor oversupply.

Yes, exactly, and that shouldn't be a factor in the argument that wages are decreasing because the rich are capturing all economic gains. Looking at household income can (very roughly) remove that from factoring into the data.

Only if GDP remained constant. Inflation-adjusted GDP increase from ~5 trillion in the 70's to ~18 trillion today. Much larger than 2x, and not every household is dual-income.

Wouldn’t you want to adjust this for household growth too? Not saying it wouldn’t be larger than 2x, but population has grown and households I believe are growing even faster, so maybe it’s actually closer to 2x?

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