this post was submitted on 28 Sep 2024
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Think about it this way. In 1960, minimum wage was $1.00/hour and the average home was $11,000.00 In 1968, when Richard Nixon took office, 'middle class' meant one Union job supporting a family of four. By the time Bush Sr. left office in 1992 "middle class" was two college jobs to support the household.
The time difference ('68-92) is roughly the same as the time since the Class of 2000 graduated, and now.