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Ok putting the fever dream aside, even at 3.7 people per household the 1963 to 2024 numbers as it relates to income vs cost of living is pretty eye opening. Yo

Ok putting the fever dream aside, even at 3.7 people per household the 1963 to 2024 numbers as it relates to income vs cost of living is pretty eye opening. You are not really disproving the general point by getting fussy over the numbers.

woodruffw 3y ago
The current average US household has 3.1 members. There’s an important discussion to be had about cost of living and stagnant wages despite productivity, but as I said in another comment: that conversation needs to be factually grounded. Vague reactionary handwringing about the good old days isn’t going to cut it, especially when the good old days weren’t all that great by contemporary standards (or for contemporary American demographics).
- kcplate 3y ago
  You still haven’t addressed the greater point. Instead you are fixating on the accuracy of least important number in the point the original commenters post. I suspect it’s because it’s the only one you can pick at. The point being can the average single income household of 3.x in 2024 afford house, car, groceries, etc at the same ability as the average single income family household of 3.x in 1963?
- deleted 3y ago
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- notjoemama 3y ago
  If we’re to correct the exuberance of emotion then this reactionary reply doesn’t fit either. On the topic, I found this informative: https://www.in2013dollars.com/us/inflation/1963?amount=1 https://www.in2013dollars.com/us/inflation/1963?amount=1 “ $1 in 1963 is equivalent in purchasing power to about $10.21 today, an increase of $9.21 over 61 years. The dollar had an average inflation rate of 3.88% per year between 1963 and today, producing a cumulative price increase of 920.69%.” Also: https://www.census.gov/library/publications/1964/demo/p60-043.html https://www.census.gov/library/publications/1964/demo/p60-04... “ The median income of all families in 1963 was about $6,200; but for families headed by college graduates, the median was $9,700. The median for all families was about $290, or 5 percent, higher than in 1962. Consumer prices rose during this period by about 1 percent; therefore, not all of this amount represented a net gain in purchasing power for the average family.1 Median family income in current dollars has more than doubled in the postwar period (from about $3,000 in 1947 to about $6,200 in 1963). This rise was accompanied by a gradual upward shift of families on the income scale. However, consumer prices have risen substantially during this period so that only about three-fifths of the increase in current-dollar incomes represented an increase in real income. In terms of constant (1963) dollars, median family income increased from $4,200 in 1947 to $6,200 in 1963. This increase was less pronounced than the increase in current-dollar income, but it was nevertheless substantial.”
  - mapt 3y ago
    The entire point of this discussion is whether we should question the CPI figures you are using to 'debunk'... this discussion.
- eru 3y ago
  What stagnant wages? The labour share of GDP has held roughly constant over the decades.
deleted 3y ago
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woodruffw 3y ago

The current average US household has 3.1 members. There’s an important discussion to be had about cost of living and stagnant wages despite productivity, but as I said in another comment: that conversation needs to be factually grounded. Vague reactionary handwringing about the good old days isn’t going to cut it, especially when the good old days weren’t all that great by contemporary standards (or for contemporary American demographics).

kcplate 3y ago
You still haven’t addressed the greater point. Instead you are fixating on the accuracy of least important number in the point the original commenters post. I suspect it’s because it’s the only one you can pick at. The point being can the average single income household of 3.x in 2024 afford house, car, groceries, etc at the same ability as the average single income family household of 3.x in 1963?
deleted 3y ago
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notjoemama 3y ago
If we’re to correct the exuberance of emotion then this reactionary reply doesn’t fit either. On the topic, I found this informative: https://www.in2013dollars.com/us/inflation/1963?amount=1 https://www.in2013dollars.com/us/inflation/1963?amount=1 “ $1 in 1963 is equivalent in purchasing power to about $10.21 today, an increase of $9.21 over 61 years. The dollar had an average inflation rate of 3.88% per year between 1963 and today, producing a cumulative price increase of 920.69%.” Also: https://www.census.gov/library/publications/1964/demo/p60-043.html https://www.census.gov/library/publications/1964/demo/p60-04... “ The median income of all families in 1963 was about $6,200; but for families headed by college graduates, the median was $9,700. The median for all families was about $290, or 5 percent, higher than in 1962. Consumer prices rose during this period by about 1 percent; therefore, not all of this amount represented a net gain in purchasing power for the average family.1 Median family income in current dollars has more than doubled in the postwar period (from about $3,000 in 1947 to about $6,200 in 1963). This rise was accompanied by a gradual upward shift of families on the income scale. However, consumer prices have risen substantially during this period so that only about three-fifths of the increase in current-dollar incomes represented an increase in real income. In terms of constant (1963) dollars, median family income increased from $4,200 in 1947 to $6,200 in 1963. This increase was less pronounced than the increase in current-dollar income, but it was nevertheless substantial.”
- mapt 3y ago
  The entire point of this discussion is whether we should question the CPI figures you are using to 'debunk'... this discussion.
eru 3y ago
What stagnant wages? The labour share of GDP has held roughly constant over the decades.

deleted 3y ago

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