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The average US family had an annual income of $956 in 1940. That is $17,268.43 in todays dollars, far more than $3k. And that was almost entirely earned by a
by agsdfgsd 8y ago
The average US family had an annual income of $956 in 1940. That is $17,268.43 in todays dollars, far more than $3k. And that was almost entirely earned by a single individual rather than both adults in the household working like now. Also, someone earning that little paid no income tax. The average house price in 1940 was $2938, which is $53k in today's money. Now the average family income is $70k, but that's mostly two people's income, they only get to keep $60k because of income tax, and houses are $200k. So we earn about twice as much, but houses cost about 4 times as much. It isn't nearly as clear cut a win for modern life as you make it out to be.
- mc32 8y agoIt’s my fault. Hundred years ago refers to previous turn of century, circa 1900, then went to 1940 about indoor plumbing for toilets. We were poor, not much above Mexican or Finnish standards (better, but hardly by much). It was anascrnt industrislization as well as WWi and WWii that catapulted us into a powerhouse.
- agsdfgsd 8y agoThat doesn't actually change much. Average income in 1900 was $438, which is $13,186.15 in 2018 dollars. And 1900 was a low point historically more so than now is a high point. The worst of the gilded age exploitation was happening then, causing huge poverty.