3 ms·
> There is no world where you get all that for the same percentage of income. This is only true because real income has barely budged since the 1970s. If real
by danaris 8mo ago
> There is no world where you get all that for the same percentage of income.
This is only true because real income has barely budged since the 1970s.
If real income had tracked productivity during that time, we would have plenty. But it didn't. All the increases have been siphoned off to feed the ultra-wealthy, in a variety of ways.
- WillPostForFood 8mo agoreal income has barely budged since the 1970s This is not true. Real income has more than doubled since 1970. https://fred.stlouisfed.org/graph/?g=o1gV https://fred.stlouisfed.org/graph/?g=o1gV All the increases have been siphoned off to feed the ultra-wealthy No, the productivity gains are eaten up by expensive items with low perceived value. You don't think about the $1000 catalytic converter in your car, or $5,000 set of airbags. You just think you are paying more to do the exact same drive to work that you could have done in a $2,000 1970s car. And that's true! Nonetheless, there is real added cost and value to the car.