You're making less money

[Island Son]

http://www.thestar.com/Business/article/217789

A generation ago, American men in their thirties had median annual incomes of about $40,000 (U.S.) compared with men of the same age who now make about $35,000 a year, adjusted for inflation.

That's a 12.5 per cent drop between 1974 and 2004, according to data from the Pew Charitable Trusts' Economic Mobility Project.

To be sure, U.S. household incomes rose during the same period although the main reason is because there are more full-time working women, a new report on the project said.

While income is not the only measure of economic mobility, the findings challenge the historical presumption that each successive generation will be wealthier, said John Morton, the report's co-author.

Of course, the men who run American companies don't have too much to complain about. CEO pay increased to 262 times the average worker's pay in 2005 from 35 times in 1978, according to the report's analysis of Congressional Budget Office statistics.

 

[Island Son]

Do you feel like you're poorer than your parents were at your age?

 

[heatherrae]

It isn't that I feel more poor. However, I do believe that in today's economy, it really requires women to work and leave their kids in day care. Gone is the one income middle class family.

 

[ortiz34]

It isn't that I feel more poor. However, I do believe that in today's economy, it really requires women to work and leave their kids in day care. Gone is the one income middle class family.

So true

 

[puddlemonkey]

I have no complaints

 

[FriendlyCanadian]

I have no complaints

almonds? you seemed to be complaing about that alot earlier, hehe. =)

 

[puddlemonkey]

I meant money wise, I hope all almonds die!

 

[biteme]

People are wasteful. I can nearly support an unspoiled woman and myself on my measley salary. The typical american bitch requires 3 times the amount I spend on myself.

 

[chewyxrage]

It doesn't take more than $35,000 a year to live comfortably in the right location (a vast variety of locations).

I'm not saying I'd be happy w/ it. Hell no! lol. But it's definately doable, and have a decent lifestyle while your at it.

I'm definately not poorer than my parents were at my age. Farmers and whatnot.

Of course, I'm wealthier because they could afford me school, because they spent their own money going to school. Gotta appreciate that. Middle class families, like mine, their kids have no excuse not be wealthier, unless they are lazy motherfuckers...

Most the middle class families I know at least gave their kids a chance to goto college on their bill, some dropped out after a year, some made it....some joined the military...all depends..

 

[riverrock]

I earn £25,000 P.A ($48,000) and I feel as if I'm wasting my time. I work my guts out, but every time the pay rise comes in, my expenditure seems to have gone up more. I am going to take on extra responsibility at work and I am going to buy a God Damn house. If I'm going to be skint all the time, I may as well have something to show for it.

 

[FriendlyCanadian]

I meant money wise, I hope all almonds die!

you're wishing death upon a nut..

odd..

time to go drink more..

 

[GoldenDelicious]

i cant complain about anything except the housing market, really. i htink you get far more bang for your buck in terms of consumer items, food and entertainment these days...housing on the other hand can happily wipe out 70% of your post tax income

in my parents day you could buy a house and pay it off through rental income alone. thats almost unheard of nowadays

 

[b0und]

i cant complain about anything except the housing market, really. i htink you get far more bang for your buck in terms of consumer items, food and entertainment these days...housing on the other hand can happily wipe out 70% of your post tax income

in my parents day you could buy a house and pay it off through rental income alone. thats almost unheard of nowadays

Yep, in this (my) city at this time a 6 figure income can no longer afford an average house. Insane, but true, an average income is barely enough to pay rent on a less than average house. We have just had 40 year mortgages introduced, can you imagine 30 year olds signing a 40 year mortgage?

Apart from that the income gap and wealth gap between the upper 5% and lower 50% has sky-rocketed.

I myself earn about 4-5 times what both my parents earned at this age, yet they have had much better opportunities when it comes to land and home ownership and investment.

b0und (sad but true)

 

[heatherrae]

It's funny that this thread got brought up. I was watching the news the other night and they were talking about how this is the first generation that proves that not every generation is better off than the one before. They were stating that the average income adjusted for inflation is less than our generation before. Our purchasing power is less. It's sad really. We are spending BILLIONS to make some very few priviledged old men very, very rich while people can't feed their children.

 

[Scotsman]

It's sort of weird to think about but I make about 4x what my dad made at my current age. But if it weren't for him working I wouldn't have gone to college and wouldn't be making what I do now.

Cheers,
Scotsman

 

[gonelifting]

I hate to see both parents working to support their families. I agree that the big business has strangled everyone for their 'greed'. Hey if they could, they would... Well, they could because the governement is letting them.


WOW, matching 401k plan!!! lmao Where the hell are the pensions? They make it sound like theyre doing us a favor, meawhile they're raping everyone. CEO making 2000% more than years past and the workers getting poorer. I don't see a difference in making $50 million or $225 million/year except for every worker in the company can barely make ends meet.

People don't have TIME to stop and think of what's happening to them, to the country. If you slow down or STOP to think, you'll get run over in the rat race. Keep moving, don't question!

 

[Island Son]

I always feel really bad for all the single parents out there, it's hard for most of them to get by. They've gotta look for the cheapest in food/clothing/everything, which generally isn't healthy or safe.