Personal = 1 person
Household = 2 people, typically
Family = 4 people
2. PERSONAL = $31,099
Increased a paltry $7,000 in like 50 years.
This is the income to compare to household income of the 1960s.
3. Because less than 1/4 households in the 1960s had more than one adult earning a living.
1 to 1 comparisons work. Not 1 to 2 or 1 to 4 as you will soon see.
4. HOUSEHOLD INCOME
Don’t compare household incomes to from the 1960s to 2018. You’re comparing 2 people earning full time earnings to 1 person.
Households are 2 or more.
Also paltry $9,000 in 40 years.
5. For the most absurd comparison is FAMILY INCOME of +$70,000
Family income can be four or more adults working full time. Don’t compare 4 to 1.
A household/family income in the 1950s was usually 1 man working.
The comparison is a misnomer.