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> With inflation and increasing inequality I'm already living a more "impoverished" life than my parents when they were my age Probably not. You may personally
by xadhominemx 4y ago
> With inflation and increasing inequality I'm already living a more "impoverished" life than my parents when they were my age
Probably not. You may personally be experiencing downward mobility, but real median household income is much higher in the US today than it was 30 years ago.
- antifa 4y agoNot relative to cost of living.
- xadhominemx 4y agoNo, it has. That is the definition of “real” income.
- krageon 4y agoIt would help if this didn't read like two people saying what amounts to "yes!" "no!" at each other. Perhaps if you offered some actual number crunching somewhere or a paper, the invested reader could figure out whether agreeing with you makes sense.
- xadhominemx 4y agoThere is no paper or number crunching involved. All one has to do is google "real median household income united states" and click on the first link.
- krageon 4y agoLeaving aside the issue of search bubbles, the first link I find states that the real median household income in the US was "below 1999 levels until 2016". That doesn't support your point at all. Edit: In US terms, "real" means that it has been inflation-adjusted. I don't know how it is in the US, but elsewhere governments frequently publish inflation numbers that have nothing to do with purchasing power (i.e. the inflation can be 3%, but the purchasing power of a household has still gone down by 5.4%). This makes such numbers seem a lot rosier than they are. Linking to actual data (which allows for looking at the whole picture rather than whatever graphs an agency chose to publish) allows us to see what's going on properly.