Back in the good old days, grumps the Boston Globe, a man could earn a living. Now he can barely afford a new plasma TV:
But from 1968 to 1998, income inequality increased. The dream was deflated by well-known culprits: lost manufacturing jobs, expensive housing, single-parent households, the declining worth of the minimum wage, and pay lavished on highly skilled workers while the income of regular folks stagnated.What is the world coming to when people who work their way through college and medical school are making more than telemarketers? Is this still America?
Extra – A rebuttal on income inequality stats from the Heritage Foundation.
1 comment:
Great article. My wife and I moved from the bottom quintile to the top quintile in only two years. We did this by finishing grad school and getting two pretty normal-paying jobs. We don't work more hours, but we work more of hour working hours for more pay per hour.
Education, proper education, is the key, along with good work habits, to raising your income.
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