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Politics : The Castle

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From: TimF	4/24/2014 12:01:52 PM
	of 7936

Reply to Message 29492079 linked to at Message 29504072 Nothing in any of those links show anything about the impact of right to work or of unions. 62 percent of Americans earn $20 or less per hour And a much larger percent of the rest of the world, or of Americans in the past (even after adjustment for inflation) earn less than $20/hour. If you really want to feel how little purchasing power you have you need to travel outside of the US. A more important consideration is purchasing power at home. Something Americans have more of than the citizens of any other large country or medium sized country (depending on exactly how you define medium sized), and also more than the vast majority of small countries. Adjusting for inflation household incomes are back to levels last seen in the 1980s. If you don't count all forms of income and don't adjust for shrinking household size. Also household income was close to the peak amount as recently as around 2007 or 2008 according to the St Louis fed chart you post. Not that I'm very optimistic about the short term for the economy but I wouldn't take a fairly short negative trend like that and project it into long term doom for the middle class.

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