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Originally Posted by thinkxingu
Major, your examples are always 30-50 years old. You realize that world no longer exists, right?! Wages vs. living costs are nowhere near what they used to be. Not even close. My parents bought a home on a maintenance man's and grocery clerks salaries in the late 60's. College cost $600 then.
I don't think anyone should ever depend on, or want to depend on, the system; I also know the importance and value of hard work and perseverance (don't forget I worked full time and paid for my own bachelor's and master's degrees mostly in cash, something that could no longer happen, either) but to make comparisons between what it took to succeed 30-50 years ago and now is absurd.
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Thirty minutes later you posted this
Quote:
Originally Posted by thinkxingu
"But despite the strong labor market, wage growth has lagged economists’ expectations. In fact, despite some ups and downs over the past several decades, today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago."
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You can't have it both ways. Not even in today's world.