There's a bunch of papers and books that recalculate growth after transfer payments. Here is a link to one book review and you can take a look at some of the figures that they came up with.
When you see those numbers about wage stagnation it always comes down to three big questions:
1) Are transfers & taxes included
2) Do you calculate the value of the transfer at the cost the government spent, or the utility received
3) What inflation metric you use
https://johnhcochrane.blogspot.com/2022/12/calomiris-on-gram...?
When you see those numbers about wage stagnation it always comes down to three big questions:
1) Are transfers & taxes included 2) Do you calculate the value of the transfer at the cost the government spent, or the utility received 3) What inflation metric you use