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In reply to the discussion: Since 1978, the cost of: [View all]orthoclad
(3,182 posts)50. My favorite graph
This is from the Congressional Budget Office, hardly a gang of socialist radicals.
[link:?itok=wQNZRzxP|
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.
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The comparisons are accurate since they both (income and costs) either include or exclude inflation.
PSPS
Nov 2023
#14
Some Midwest (including Pennsylvania) states. and 3 of the Rocky Mountain states too, plus New Hampshire
Celerity
Nov 2023
#19
that and, in my case, international students. i went to the school of the art institute.
mopinko
Nov 2023
#36
In Cuba, rent is capped at 10% of income, universal healthcare and higher ed is fully covered.
Marcus IM
Nov 2023
#11
Examine the largest increases for political pricing power or large pools of money
bucolic_frolic
Nov 2023
#26
I think this is comparing non-inflation adjusted prices with inflation-adjusted income
Silent3
Nov 2023
#31
Assuming that the numbers are accurate, it is not an argument about inflation so much as the difference
Chainfire
Nov 2023
#35
and if you ask about 60% of the country what would help the economy right now...
Takket
Nov 2023
#48