Some folks try to play off that people are richer today because you have more two car families. The counter argument is that if both parents work the family needs two cars. One fact alone doesn’t paint the picture.
So, you believe that all the technological and medical improvements of the past six decades were the result of massive inflation and the collapse of the middle class?
What are you talking about? We are richer now than then.
Just look up, I don’t know, the percentage of homes with hot water or electricity. Look up percentage of homes with an indoor toilet. It’s nearly 100% now… But in 1960s these were not a given
Or, to put it another way, in 1960 minimum wage was $1.00/hour and the cost of the average home was $11,000.00. A burger flipper could get hired on high school graduation day and be a homeowner in 20 years without ever getting a raise.
Are you saying that all the technological and medical progress of the last 60 years was a direct result of the decrease of real wages?
Let’s be liberal and go with California’s $20.00 minimum wage. Price of an average US home today is about $350,000. If a minimum wage worker lived with their parents and saved all their they could buy a house in about 9 years. The 1960’s version could do it in about 5 years.
The actual price of the average home in California is over $750,000.00
…And?
Some folks try to play off that people are richer today because you have more two car families. The counter argument is that if both parents work the family needs two cars. One fact alone doesn’t paint the picture.
I’m saying the 1960s were worse. By any measure
So, you believe that all the technological and medical improvements of the past six decades were the result of massive inflation and the collapse of the middle class?
Could you elucidate?
What are you talking about? We are richer now than then.
Just look up, I don’t know, the percentage of homes with hot water or electricity. Look up percentage of homes with an indoor toilet. It’s nearly 100% now… But in 1960s these were not a given
Or, to put it another way, in 1960 minimum wage was $1.00/hour and the cost of the average home was $11,000.00. A burger flipper could get hired on high school graduation day and be a homeowner in 20 years without ever getting a raise.
Are you saying that all the technological and medical progress of the last 60 years was a direct result of the decrease of real wages?
Real wages are up since the 1960s
Let’s be liberal and go with California’s $20.00 minimum wage. Price of an average US home today is about $350,000. If a minimum wage worker lived with their parents and saved all their they could buy a house in about 9 years. The 1960’s version could do it in about 5 years.
The actual price of the average home in California is over $750,000.00