We earn less, inflation adjusted, why?

loureed4 said:

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

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.

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