While the fact that a record number of Americans are living in poverty should not surprise anyone at this point, what should surprise many is that according to the Census report of Income, the median male is now worse on a gross, inflation adjusted basis, than he was in 1968.
While back then, the median income of male workers was $32,844, it has since declined to $32,137 as of 2010. And there is your lesson in inflation 101 (which we assume is driven by the CPI, which likely means that the actual inflation adjusted income decline is far worse than what is even reported). The only winner: women, whose median inflation adjusted income over the same period has increased by 188%. That said, it is still at 65% of what the median male makes. So injustice all around. And now, it is time to be patriotic again and buy a Pontiac Aztek.
[Via Zero Hedge]
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2 comments:
immigration + freetrade + the_rich_controling_everything = bad_news_for_the_working_man
What did you expect?
I think you will find immigration, free trade, and the rich controlling everything all existed long ago, and the solution is much more complex than a single blog post, let alone comment.
a good start would be to ask "what worked in the past?" and "what works currently in other places?"
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