this post was submitted on 06 Aug 2023
1203 points (98.2% liked)
Memes
45197 readers
2158 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
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
Always keep this simple fact in mind.
In 1960, minimum wage was $1.00/hour and the average US home was $11,000.00. $1 million was a vast fortune.
When ronald Reagan took office, 'middle class' was still defined as one job supporting a family of four.
By the time George HW Bush had finished his term, middle class was two jobs to keep the family going. And $1 million was what a rich guy paid for a party.