Release of the U.S. Census Bureau's annual report on median income received widespread press coverage since its September 12 release, much of it misleading.

Some press reports said it was evidence of rising income inequality. Others said it was just the latest confirmation of two-decades of wage stagnation and a struggling middle-class.

Independent economist Fritz Meyer says household median income is a poor measure of American wealth distribution and economic progress of Americans. His research belies widely-held notions about wealth inequality and wage growth of Americans.