[lbo-talk] Median income higher than in 1985

[joanna]

This is how numbers lie. I came to this country in 63 and within five 
years, my father owned a modest three bedroom house, which he sold 
twenty years later for a 1000% profit. An immigrant, he supported a 
family of four on one union salary. My sister and I got a Ph.D. (with no 
debt) and an M.A. (with very little debt). He retired with social 
security, a pension, and health care benefits.

I don't care what the numbers say; his life is just not possible anymore 
for 90% of the working class.

Joanna

Wojtek Sokolowski wrote:


>"As the U.S. population crossed the 300 million mark
>sometime around 7:46 a.m. Tuesday (according to the
>U.S. Census Bureau), the typical family is doing a
>whole lot better than their grandparents were in 1967,
>the year the population first surpassed 200 million. 
>
>Mr. and Mrs. Median's $46,326 in annual income is 32%
>more than their mid-'60s counterparts, even when
>adjusted for inflation, and 13% more than those at the
>median in the economic boom year of 1985. And thanks
>to ballooning real estate values, average household
>net worth has increased even faster. The typical
>American household has a net worth of $465,970, up 83%
>from 1965, 60% from 1985 and 35% from 1995. "
>
>more at 
>
>http://biz.yahoo.com/weekend/avg_1.html
>
>Any comments?  Doug?
>
>Wojtek
>
>
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