This chart shows the median wage has gone up since the pandemic, even if using 2023 dollars
So the wages in the US are better than they have ever been, even inflation adjusted. You can go back as long as you want, they were not higher in the 50s, contrary to popular belief
So the wages in the US are better than they have ever been, even inflation adjusted. You can go back as long as you want, they were not higher in the 50s, contrary to popular belief
That’s just obviously false. Are you saying people who could pay for college by working summer jobs, and who could buy a car and house and raise a family on a single income were making less than people today who spend decades paying off student loans, and who can barely afford rent on a one-bedroom apartment?
Sure, but people pining for the lifestyle of the 50s forget they are looking at the top 10% of incomes. Life in the 50s wasn’t that good compared to now for the AVERAGE person
Except they had things like the G.I. bill which gave them money to go to college or buy a house and improve their lives. Every man who was in the military in WWII had that as an option. Maybe some didn’t utilize it, but that was by choice. If you include their spouses and children, that’s way more than 10% of the population.
Wages were comparatively higher too.
But I don’t know anyone on the left pining for the lifestyle of the 1950s, that’s something conservatives want. I wouldn’t mind the wages of the 1950s (adjusted for inflation) and I wouldn’t mind taxing the rich at 90%, but I sure would mind the racism and the sexism.
It doesn’t, actually. You pay all of your workers more so some of them might buy your product, maybe?
The increase in wages for everyone will help, but then capitalists have no choice to attract labor. See: the wages now adjusted vs. the inflation
https://www.bls.gov/charts/usual-weekly-earnings/usual-weekly-earnings-over-time-total-men-women.htm#
This chart shows the median wage has gone up since the pandemic, even if using 2023 dollars
So the wages in the US are better than they have ever been, even inflation adjusted. You can go back as long as you want, they were not higher in the 50s, contrary to popular belief
That’s just obviously false. Are you saying people who could pay for college by working summer jobs, and who could buy a car and house and raise a family on a single income were making less than people today who spend decades paying off student loans, and who can barely afford rent on a one-bedroom apartment?
https://oldurbanist.blogspot.com/2013/02/was-rise-of-car-ownership-responsible.html
home ownership and car ownership is up since the 1950s
how come more people have those things that are hard to afford than before?
In part because black people can own those things more easily now.
Sure, but people pining for the lifestyle of the 50s forget they are looking at the top 10% of incomes. Life in the 50s wasn’t that good compared to now for the AVERAGE person
Except they had things like the G.I. bill which gave them money to go to college or buy a house and improve their lives. Every man who was in the military in WWII had that as an option. Maybe some didn’t utilize it, but that was by choice. If you include their spouses and children, that’s way more than 10% of the population.
Wages were comparatively higher too.
But I don’t know anyone on the left pining for the lifestyle of the 1950s, that’s something conservatives want. I wouldn’t mind the wages of the 1950s (adjusted for inflation) and I wouldn’t mind taxing the rich at 90%, but I sure would mind the racism and the sexism.
Adjusted for inflation, much lower than today
There were loopholes that allowed most people to pay much less, so that’s why they closed those loopholes later
Evidence please.
Remind me how much rich people pay in taxes now.
We don’t have good WAGE data before 1964
https://commons.wikimedia.org/wiki/File:United_States_real_wages_(red,_in_constant_2017_dollars).png
but we also have household income data for earlier years
https://www.johnstonsarchive.net/policy/famincome.html
but it doesn’t match 100% because what a household is differs (households used to be bigger in the 1950s)
but you can see that 1950-1964 the household incomes grew quickly, so the 1950s were a period of growth, you were a lot better off by 1970