this post was submitted on 17 Mar 2024
44 points (90.7% liked)
Socialism
5200 readers
12 users here now
Rules TBD.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Even with the wild inflation of the 1970s, a high school graduate in 1980 could afford to get an apartment and be independent with a minimum wage job. In 1980, "middle class" in the US still meant one job supporting a family of four. In those days, $1 million was still considered a giant fortune. By the time Bush Sr. left office, 'middle class' was enshrined as two jobs, and $1 million was what a rich guy paid for a party.