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Nope. https://fred.stlouisfed.org/series/MEPAINUSA672N https://fred.stlouisfed.org/series/MEPAINUSA672N

aaomidi 2y ago
That number makes absolutely no sense considering how much more basic stuff like housing is now. Income going up does not actually mean anything without taking into consideration that people are less likely to be able to buy a house now than 50 years ago.
- bryanlarsen 2y ago
  That is an inflation adjusted number
  - rvense 2y ago
    But the cost of housing has inflated more than the cost of potatoes.
    - bryanlarsen 2y ago
      Exactly. If incomes increased at the same rate as housing did, then people would be much richer today than they were back then. It's why inflation uses a basket rather than just cherry picking a single component of the basket. If you want things to look bad you use housing. If you want things to look good you use potatoes. If you try and be fair you use a basket.
      - aaomidi 2y ago
        Im sorry but a basket is absolutely useless when we’re talking about basic needs like housing.
        bryanlarsen 2y ago
        2/3 basic needs (food & clothing) are a lot cheaper than they were 50 years ago, and 1/3 is more expensive.
        CapstanRoller 2y ago
        That 1/3rd is often the difference between life and death.
psadauskas 2y ago
What do you mean, "nope"? Which part of the previous claims are you refuting? Your chart shows "real median personal income" increased by ~50% from 1975 to now (27k to 40k). One of the links you're nope-ing says "From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure), far outstripping S&P stock market growth (706.7%) and the wage growth of very high earners (339.2%)." Both of these can be true, and median personal income increasing by just 50% when the income of the wealthy increased by far, far more sure sounds a lot like "the gains from increased productivity have been reaped by executives, not workers."

That number makes absolutely no sense considering how much more basic stuff like housing is now. Income going up does not actually mean anything without taking into consideration that people are less likely to be able to buy a house now than 50 years ago.

bryanlarsen 2y ago
That is an inflation adjusted number
- rvense 2y ago
  But the cost of housing has inflated more than the cost of potatoes.
  - bryanlarsen 2y ago
    Exactly. If incomes increased at the same rate as housing did, then people would be much richer today than they were back then. It's why inflation uses a basket rather than just cherry picking a single component of the basket. If you want things to look bad you use housing. If you want things to look good you use potatoes. If you try and be fair you use a basket.
    - aaomidi 2y ago
      Im sorry but a basket is absolutely useless when we’re talking about basic needs like housing.
      - bryanlarsen 2y ago
        2/3 basic needs (food & clothing) are a lot cheaper than they were 50 years ago, and 1/3 is more expensive.
        CapstanRoller 2y ago
        That 1/3rd is often the difference between life and death.

psadauskas 2y ago

What do you mean, "nope"? Which part of the previous claims are you refuting? Your chart shows "real median personal income" increased by ~50% from 1975 to now (27k to 40k). One of the links you're nope-ing says "From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure), far outstripping S&P stock market growth (706.7%) and the wage growth of very high earners (339.2%)." Both of these can be true, and median personal income increasing by just 50% when the income of the wealthy increased by far, far more sure sounds a lot like "the gains from increased productivity have been reaped by executives, not workers."