You haven’t provided any federal reserve data claiming that “For the white male, the median is making less (inflation adjusted) then their parents made 40 years ago.” Go back and read your posts. Unless it’s somewhere deep in the wikipedia article, you didn’t post it. If it’s somewhere in the wikipedia article, post it. Honestly, I think this stat is probably true, but like I tried to point out, it presents a very incomplete picture for several reasons.
- We are not an economy of white males. There are a lot of females and non-white males too. With a stat so narrow, I would think that if you included everyone, it would show we do make more.
- It likely doesn’t include benefits, such as health insurance, which we all know costs a lot more than it did 40 years ago.
- It doesn’t factor in what we can get for that money. If you made $3.73/hr in 1977, that’s $15/hr today. How long would you have to work in 1977 to buy a 25" TV (which cost $530)? 142 hours. How long would you have to work to buy a 32" TV ($150) today? 10 hours.
I never said you claimed anything contradictory. I said you claimed that we are worse off than we were 40 years ago. I claimed that you when you said our “standard of living is worse,” you were referring to it in absolute terms. When I pressed you on that, you said you claimed you were referring to our standard of living relative to other countries. I am simply asking you to clarify.
Are you claiming that our standard of living has declined (in absolute terms - not compared to other countries) over a long period of time (10+ years)?
Are you claiming the average american is worse off now than they were 40 years ago?
If so, what data do you have to support those claims? Data that says some people simply “make less” is not comprehensive enough to support such general claims (as I explained above).