WEALTH: STATIC WAGES, EXCEPT FOR THE RICH

Here's the state of the economy in the typical U.S. household: the principal breadwinner (let's say it's a he) brings home the same paycheck he was bringing home in 1970, when Richard Nixon was President and the Grateful Dead had hair. He may think he's got raises, but when you subtract for inflation, he hasn't. Yet his family is better off than it was in 1970, with 20% more buying power.

What's the reason the typical household has more money to spend, while the typical paycheck has failed to grow? There's now a second breadwinner in the house. Couples have also...

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