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<blockquote data-quote="ECMO3" data-source="post: 9079886" data-attributes="member: 7030563">Not when normalized against an equivalent standard of living.People say this because wages have stagnated because they are comparing it to the CPI, however the CPI is calculated using a larger basket of goods than it was 40 years ago.Against inflation the US household income in 1983 and 2023 is largely stagnant.&nbsp; But the purchases used to calculate inflation are not the same in 2023 as they were in 1983.If you use the purchases from the basket of goods in 1983 and compared that to wages today, wages they would be much, much higher today.To put it another way, if families took the wages they are earning today and purchased housing, education, health care, transportation, communication, etc. consistent with what families actually purchased in 1983 they would have a lot of money left over.&nbsp; They would also have no smart phones, very few computers, worse health insurance, fewer and less capable vehicles, worse education etc.Wages are stagnant only when compared against a standard of living today that is much, much better.&nbsp; People with mid-level incomes today are living like the &quot;filthy rich&quot; did 40 years ago.&nbsp; Even poor people today are largely living better than the middle class did 40 years ago.</blockquote>

[QUOTE="ECMO3, post: 9079886, member: 7030563"] Not when normalized against an equivalent standard of living. People say this because wages have stagnated because they are comparing it to the CPI, however the CPI is calculated using a larger basket of goods than it was 40 years ago. Against inflation the US household income in 1983 and 2023 is largely stagnant. But the purchases used to calculate inflation are not the same in 2023 as they were in 1983. If you use the purchases from the basket of goods in 1983 and compared that to wages today, wages they would be much, much higher today. To put it another way, if families took the wages they are earning today and purchased housing, education, health care, transportation, communication, etc. consistent with what families actually purchased in 1983 they would have a lot of money left over. They would also have no smart phones, very few computers, worse health insurance, fewer and less capable vehicles, worse education etc. Wages are stagnant only when compared against a standard of living today that is much, much better. People with mid-level incomes today are living like the "filthy rich" did 40 years ago. Even poor people today are largely living better than the middle class did 40 years ago. [/QUOTE]

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