FROM 1950 TO 1980:
-The bottom 90% of the people saw an increase of
75% in income
-The top 1% (wealthies) saw an increase of
77% in income
FROM 1980 TO 2008:
LOOKOUT!!:
-The bottom 90% of the people saw an increase of
1% in income
-The top 1% of the people (wealthy) saw an increase of
433%
This is the source:
(from 8:14 to 9:57):
http://www.youtube.com/watch?feature...&v=DryKwh7a3I4
This data is in the video I placed here as a link, and it looked interesting.
The video points out also why we need now two incomes rather than one, as we used to.
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For those who argue we spend recklessly today:
According to this video:
http://www.youtube.com/watch?v=akVL7QY0S8A
(from minute 16:40 to minute 24:43 approximately):
We spend today: (INFLATION ADJUSTED!)
-32% LESS on clothing than a generation ago
-18% LESS on food
-52% LESS on appliances
Here it when the difference comes:
We spend today: (look out: Inflation Adjusted!!)
-76% MORE on mortgage
-74% MORE on health insurance
-52% MORE on cars
So, it is easy to understand than 76% more for a house (inflation adjusted!!) is not a luxury, nor a car, if only a car, costs 52% more than a generation ago.
