Despite what you may hear from some politicians, Americans are better off now than they’ve ever been.
In 1984, the median household income adjusted for inflation was $50,000. As of 2019, it rose by more than 20 percent to $63,000. All while living in bigger houses, working less, and enjoying more leisure time.
And when the economy is booming, earnings for all Americans rise even faster.
Not only are incomes rising, but what were once considered luxury amenities are far more commonplace.
For example, in 1973, only 19 percent of residential homes had central air conditioning. Today, that proportion has nearly quadrupled.
Many of the things we buy are also becoming more affordable and available.
In 1983, a microwave had a price tag of $1,500 in today’s money. Now, you can walk into any big-box store and purchase one for under $100.
In 1984, one of the first commercially successful computers sold for the equivalent of $6,000. Today, a similar contemporary product can be purchased for under $1,000 and is over four-hundred times faster than the PCs of the past.
If you flip on the news, it may seem like the country is sliding downhill, but in reality, standards of living are drastically improving. Maybe the media doesn’t want Americans to know just how good they have it.