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this post was submitted on 05 Sep 2023
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Someone please correct me if I’m wrong because I have trouble understanding this. But someone told me the other day that I’m the height of the Great Depression,1931(?), that the average American was making 88k in todays dollar.
Today the average American is making 33k. Is this true?
If this is true that would totally explain the amount of mental illness on top of climate change concerns. If it is true I don’t know why more people wouldn’t be talking about it
A lot of those claims are based on tax return numbers, which radically overestimate the average salary back then because only the richest people actually filed taxes during that time.
Don't get me wrong, we're not in a good place, but it's not peak great depression bad.
No bread lines where I live, yet.
There are bread lines where I live. The homeless/houseless population is absurd.
I dunno. Seeing quasi hoovervilles popping up with communities of homeless people living in tents and I don't even live in California. We are like 80% of the way to great depression but there is just more large scale manufacturing of food and entertainment these days
Idk anything about that, but I have heard that the wealth disparity is worse than pre-revolution France
As far as a percentage of your annual income goes, during the Great Depression houses were cheaper than they are today.
Shit, buying a house then was cheaper than RENTING today.
Can't comment on 88K figure
But for current times... 33k is a bit to low. I think official stats is that wage is 39K for all working adults. and closer to 50k for full time working adults. these are median, not averages. ie 50% makes less, 50% make more.
I make 31k so try again.
You are below median. Here are some data on U.S. median personal income over time.