Fenixgoon
Lifer
- Jun 30, 2003
- 32,801
- 12,044
- 136
So why are we in a new gilded age then?Real median personal income shows a similar trend. The median American is simply considerably richer than they were 50 years ago.
Real Median Personal Income in the United States
Graph and download economic data for Real Median Personal Income in the United States (MEPAINUSA672N) from 1974 to 2023 about personal income, personal, median, income, real, and USA.fred.stlouisfed.org
People are way, WAY richer than they were in the 1940's and 50's too. Like for example in 1950 about a third of Americans didn't have hot running water.
See here...
Real and nominal value of the minimum wage U.S. 2024 | Statista
When adjusted for inflation, the 2024 federal minimum wage in the United States is over 40 percent lower than the minimum wage in 1970.
www.statista.com
Or here
Wage Stagnation in Nine Charts
Our country has suffered from rising income inequality and chronically slow growth in the living standards of low- and moderate-income Americans. This disappointing living-standards growth—which was in fact caused by rising income inequality—preceded the Great Recession and continues to this...
www.epi.org
Last edited: