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1 Destro  Sat, Aug 4, 2012 6:18:42pm
Moreover, income changes alone don’t capture the enhanced quality of life that stems from greater access to information and entertainment through personal computers, smartphones, the Internet and cable TV; advances in medical care such as MRIs and new surgical techniques; and more choices for all kinds of goods and services.

This seems right wing disinfo. Hey, you get MRIs now! Don't worry that as a class your income has shrunk over the last 30 years! USA! USA! USA!


[Link: money.cnn.com...]

Incomes for 90% of Americans have been stuck in neutral, and it's not just because of the Great Recession. Middle-class incomes have been stagnant for at least a generation, while the wealthiest tier has surged ahead at lighting speed.

In 1988, the income of an average American taxpayer was $33,400, adjusted for inflation. Fast forward 20 years, and not much had changed: The average income was still just $33,000 in 2008, according to IRS data.

Meanwhile, the richest 1% of Americans -- those making $380,000 or more -- have seen their incomes grow 33% over the last 20 years, leaving average Americans in the dust.

But that's cool, because who cares if your income stayed the same or shrunk. You get to get a smartphone with a 3 year contract!!!! Winning!!!!

2 dragonath  Sat, Aug 4, 2012 9:47:34pm

This article is weird.

It admits what growth in "middle class households" has increased because more than one person is working. That's a change from 30 years ago and it's glossed over with

Myth #1. Today’s middle-class Americans are worse off than their parents.

...conviently ignoring the loss in vacation time, company health insurance and total wages per employee.

3 Talking Point Detective  Sat, Aug 4, 2012 10:00:44pm

Measuring only income is facile. The relationship that is important is measuring expendable income after basic needs are met.

Further, as mentioned above, it is relevant to examine whether people are working longer hours, with more or less leisure time.

Why would you post this article?

4 Bob Levin  Sun, Aug 5, 2012 5:47:29am

The article is posted, as are most of his posts, because they are excellent starting points for a discussion.


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