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(2,702 posts)
50. My favorite graph
Tue Nov 21, 2023, 07:27 PM
Nov 2023

This is from the Congressional Budget Office, hardly a gang of socialist radicals.

It doesn't cover the entire time period of the OP, but it supports the basic point.

In the US, as in most of the world, wealth is power. Economic power, political power, military power. In the end, privilege is enforced from the barrel of a gun. Ask the early unionists who were massacred.

We can nitpick over details of what minimum wage is in what area, etc., but the trend is clear: the rich get richer. The poor get poorer. The bottom 50%, which you can barely see at this scale, gets a smaller slice of the pie, while the top reaches for the stars. Or Mars.

Since 1978, the cost of: [View all] applegrove Nov 2023 OP
Do you really believe this? Abolishinist Nov 2023 #1
I take it you don't dpibel Nov 2023 #3
What is the context? The link only goes Abolishinist Nov 2023 #5
One presumes inflation Kennah Nov 2023 #7
You know a 1978 dollar isn't a 2023 dollar, right? dpibel Nov 2023 #8
The only specific figure I remember from the seventies was my college tuition DFW Nov 2023 #13
The comparisons are accurate since they both (income and costs) either include or exclude inflation. PSPS Nov 2023 #14
Your example only shows that Abolishinist Nov 2023 #51
Logic has been malaise Nov 2023 #22
Clever. Tell you what, explain to me how, according to the meme, Abolishinist Nov 2023 #42
You're correct, this meme is disinformation, see post 32. tritsofme Nov 2023 #44
Well, I'm waiting for Professor Logic Abolishinist Nov 2023 #47
You know a 1978 dollar isn't a 2023 dollar, right? Abolishinist Nov 2023 #43
Most southern states have a minimum wage of $7.25 applegrove Nov 2023 #16
Some Midwest (including Pennsylvania) states. and 3 of the Rocky Mountain states too, plus New Hampshire Celerity Nov 2023 #19
You always find the best stuff. Thank you. applegrove Nov 2023 #21
yw Celerity Nov 2023 #24
Federal minimum wage is $7.25/hr. nt Phoenix61 Nov 2023 #28
This!! Ferrets are Cool Nov 2023 #29
Context (Check Out The Graph) DiJee Nov 2023 #33
Yes. College tuition didn't used to destroy people with applegrove Nov 2023 #4
Conversely, one could argue that the easy availablity of Abolishinist Nov 2023 #9
The Cato Institute would, for instance dpibel Nov 2023 #10
Faulty logic...the percentage shift is huge JT45242 Nov 2023 #27
Faulty logic on your part. Loans have driven up tuition. former9thward Nov 2023 #45
Tax dollars from citizens...see my post JT45242 Nov 2023 #46
The Dept. of Education is the originator of most student loans former9thward Nov 2023 #49
that and, in my case, international students. i went to the school of the art institute. mopinko Nov 2023 #36
No, it didn't. ShazzieB Nov 2023 #12
Have a look - thanks Reagan et al malaise Nov 2023 #23
These figures have my depression rising by 100% Deuxcents Nov 2023 #2
Lots to think about, elleng Nov 2023 #6
In Cuba, rent is capped at 10% of income, universal healthcare and higher ed is fully covered. Marcus IM Nov 2023 #11
I've been there, but I was a guest of their government DFW Nov 2023 #15
I grew up in Cuba. Marcus IM Nov 2023 #18
This was 1982 DFW Nov 2023 #20
I understand. Marcus IM Nov 2023 #37
Definitely dated DFW Nov 2023 #39
It's not complicated malaise Nov 2023 #25
This message was self-deleted by its author speak easy Nov 2023 #17
Examine the largest increases for political pricing power or large pools of money bucolic_frolic Nov 2023 #26
Deflation? enid602 Nov 2023 #30
I think this is comparing non-inflation adjusted prices with inflation-adjusted income Silent3 Nov 2023 #31
A different viewpoint - "Misleading With Inflation Since 1978": sl8 Nov 2023 #32
That's not a viewpoint, it's the truth. OP is misinformation. tritsofme Nov 2023 #41
Inflation is very roughly 10x relative to the 1970s Edim Nov 2023 #34
Very roughly, yes. And it depends on what you're comparing. MineralMan Nov 2023 #40
Assuming that the numbers are accurate, it is not an argument about inflation so much as the difference Chainfire Nov 2023 #35
It's called "Reaganomics". "Trickle down". BComplex Nov 2023 #38
and if you ask about 60% of the country what would help the economy right now... Takket Nov 2023 #48
My favorite graph orthoclad Nov 2023 #50
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