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To have the buying power that $200k/yr salary had in the 80s you’d need a $600k/yr salary now Math tricks; mostly loans with long term repayment obligations to
by peterdobs 2y ago
To have the buying power that $200k/yr salary had in the 80s you’d need a $600k/yr salary now
Math tricks; mostly loans with long term repayment obligations to a rent seeker, media obfuscation, have been used to hide the deflation of purchase power
We know where it all went. Warren Buffet said the solution is simple, the people need to demand government raise his taxes.
But the public thinks making $200k in 2024 puts them beyond the $60k/yr their parents made in 1990 so it’s cool
- xnx 2y agoLots of factors to consider when comparing across those time periods. Hedonic adjustment is huge, and mortgage interest rates averaged over 13%. I'd much (much) rather live in 2024 and make $200k than live in 1985 and make $60k.