INCOME IN THE 1960s VERSUS 2018

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1. There’s a difference between real personal, household and family #income.

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.

Why?

3. Because less than 1/4 households in the 1960s had more than one adult earning a living.

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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.

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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.

h/t @OccupyWisdom

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