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Message: <blockquote data-quote="Old One" data-source="post: 2372255" data-attributes="member: 83">Ace -Interesting info and figures, but only part of the equation (politics aside).  The other side of the wage coin is the national tax bite.  According to the Tax Foundation, "Tax Freedom" day for the average American was April 17th, 2005.  Up until that point, working Americans were paying all their wages (on an annualized basis) to support local, state and federal taxes (including "hidden" taxes and fees like state/federal gas taxes).Even with the tax cuts enacted over the last several years, Americans, on average are still paying ~ 30% of their income to cover local, state and federal taxes - more than they spend on food, clothing and medical care combined.  I also don't necessarily buy the blanket statement that you need 2 incomes to equal one income in 1968, or maintain the same standard of living.  When you run the analysis, which I often do for clients with small children - you often find that one spouse is working just to pay for childcare.  When you factor in childcare/afterschool costs, commuting time/expense, business clothes/expense, the virtual necessity of a second car and associated expenses if you live in Suburbia and the intangibles of non-parental childcare, you find that an annual salary of $25,000 - $30,000 is essentially "break-even" for a family with 2 kids on an after-tax basis.  Make that or less and you are just spinning your wheels.I also think the expectations for many in this country on the things we must have today - house of a certain size, 2 cars, cable TV, high-speed internet, non-stop sports/social activities for our children - substantially exceed the norm of 1968.~ OO</blockquote>

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