For Cat:

All of these back and forth comments come down to a simple, bottom line view, that is if taken over a reasonable invstment timeframe.  (Five to 10 years).  

An investor has a choice. The can invest in fixed income, paying maybe 2% or at most 3% per year. This income is fixed, tha means, never, ever growing. 

Or one can invest in reasonably safe dividend growth stocks. Not without risk but the safest of dividend stocks where the incomepaid is highly certain.....pipelines and utilities. 

Today, these pay an investor , on average about 5% per year, a whol lot better than the 2% to 3% tha fixed income offers. And tha 5% current yield is expected to grow by approximately another 8% per year. 

The choice: 

1) an income of  2% to 3%per year that never, ever grows, or  

2) an income of 5% annually (roughly twice as much current income) and that is designed to grow in the order of aout 8% per year.  

Like the coin toss experiment, investing isn't all that complicated.