In other words, middle class families aren’t really getting ahead....................... LOL, because you are making 5-10 times what your parents made back when they were your age doesn’t mean you are doing better. Gas isn’t 22 cents a gallon, there are no 5 cent cigars, 5 cent candy bars, 15 cent hamburgers, or 59 cent a lb. steak. So you if make 50K a year today, its like 10K in the late 60’s. Does your new Chevy cost $2500, or a new 3BR home cost $15,000? Basically the middle class is only spinning wheels while the cost of living grows, thinking they are better off. Wait till that $15hr. gets into play, the beat will go on.
Inflation distorts everything.
Its one reason why Liberals love it. It makes people think they are getting ahead while they are actually falling behind.
Its also a giant transfer of wealth from the Middle Class to the Government and the Rich.
Very good post...Young people can’t believe prices were that low when I was a kid...They don’t think about wages being low also...LOL...
My first job while I was still in high school paid $1.15 an hour...Picking up road kill for the county....