ray
Holy crap. I apologize. I didn't know this had posted, as I went out the door for 4 days in the middle of... ... I apologize. Unreservedly.
. I thought to look at the basket of the CPI and analyze why it might not account for the "real inflation" felt by consumers. But this was a draft that I started as I started reading about the CPI basket... And without thinking I guess replied when I replied to Steve.
The point I made about the median income regressing after 1998 .... you never addressed, by the way.
Your tables were supported when "individual income" is considered as well, BTW. Which it means the difference has nothing to do with family size.
http://www.census.gov/hhes/www/income/d ... al/people/
Here's a few reasons why median income in 2010 isn't as "valuable" in 1980. Despite having risen
1) The price of health care .The Milliman Medical Index finds the total cost of healthcare for a family of four in 2011 is $19,393, an increase of 7.3% over 2010.
http://www.consumeraffairs.com/news04/2 ... years.html
The CPI does not account for this significant difference.
2) The cost of secondary education . From Study by National Center for Public Policy
Over all, the report found, published college tuition and fees increased 439 percent from 1982 to 2007 while median family income rose 147 percent. Student borrowing has more than doubled in the last decade, and students from lower-income families, on average, get smaller grants from the colleges they attend than students from more affluent families.
http://www.nytimes.com/2008/12/03/educa ... llege.html
Tied to this, is the debt load assumed by many young Americans in getting secondary education.
3) Paying off student loans is a larger percentage of income then in 1980.
Except if you read more carefully you would know that I already adjusted for inflation. The fact that you didn't catch this most salient fact when analyzing my numbers (and my sources) suggests to me that you think about your arguments even less than I had previously thought. If you were driven by trying to understand other people's arguments instead of just refuting them because of your own cognitive dissonance, this would have come out way before you posted
Holy crap. I apologize. I didn't know this had posted, as I went out the door for 4 days in the middle of... ... I apologize. Unreservedly.
. I thought to look at the basket of the CPI and analyze why it might not account for the "real inflation" felt by consumers. But this was a draft that I started as I started reading about the CPI basket... And without thinking I guess replied when I replied to Steve.
The point I made about the median income regressing after 1998 .... you never addressed, by the way.
Your tables were supported when "individual income" is considered as well, BTW. Which it means the difference has nothing to do with family size.
http://www.census.gov/hhes/www/income/d ... al/people/
Here's a few reasons why median income in 2010 isn't as "valuable" in 1980. Despite having risen
1) The price of health care .The Milliman Medical Index finds the total cost of healthcare for a family of four in 2011 is $19,393, an increase of 7.3% over 2010.
http://www.consumeraffairs.com/news04/2 ... years.html
The CPI does not account for this significant difference.
2) The cost of secondary education . From Study by National Center for Public Policy
Over all, the report found, published college tuition and fees increased 439 percent from 1982 to 2007 while median family income rose 147 percent. Student borrowing has more than doubled in the last decade, and students from lower-income families, on average, get smaller grants from the colleges they attend than students from more affluent families.
http://www.nytimes.com/2008/12/03/educa ... llege.html
Tied to this, is the debt load assumed by many young Americans in getting secondary education.
3) Paying off student loans is a larger percentage of income then in 1980.