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Things are only getting better for those blatantly out of touch with the reality of lower classes. Wages are not rising when you factor in Inflation[1], for som
by entropea 7y ago
Things are only getting better for those blatantly out of touch with the reality of lower classes. Wages are not rising when you factor in Inflation[1], for some portions of the country even going down in buying power since the early 70's. Nearly half of Americans are poor or low income [2].
[1] https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us...
[2] https://www.cbsnews.com/news/census-data-half-of-us-poor-or-low-income/ https://www.cbsnews.com/news/census-data-half-of-us-poor-or-...
- Consultant32452 7y agoThat buying power you're talking about in the 70s is largely the buying power of white men. Women largely weren't allowed to have real jobs. Minorities either. What do you think that chart looks like when you include their buying power in the 70s? We've also pulled over a billion people out of abject poverty and food scarcity since then. Out of touch with the lower classes indeed.
- volkl48 7y agoLong-term trends - I agree. I would note that over the past year though, that wages have been ticking up for the poorer groups at a solid pace (~4%) and inflation has remained low. https://www.nytimes.com/2019/05/02/business/economy/wage-growth-economy.html https://www.nytimes.com/2019/05/02/business/economy/wage-gro...