Mason 🏃‍♂️✂️ on Twitter: "All else held equal, people are better off in a world where a 32" high def color TV costs $120 than one where a 16" B&W TV costs $2,000. It remains true that many people cannot afford either, and so have no preference. One is still better. This is a critical point.… https://t.co/kOKKGFL066"

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John Maddox‏ @johnmaddox 28 Jan 2019

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Replying to @Cozzy_was_Wrong @Fallenour and

Regarding wage stagflation, you might want to check your facts. Other than a few brief periods earning per capita has been going up significantly.pic.twitter.com/aEMIuhd2Pj

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tru-story‏ @Cozzy_was_Wrong 28 Jan 2019

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Replying to @johnmaddox @Fallenour and

My google-fu has failed me so far, there is a much more exhaustive demographic breakdown and ill try to post at a future date if i find it, but the interactive NPR graph is pretty good https://www.taxpolicycenter.org/statistics/historical-income-distribution-all-households … https://www.npr.org/sections/money/2014/10/02/349863761/40-years-of-income-inequality-in-america-in-graphs … reposting the prev one http://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/ …

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tru-story‏ @Cozzy_was_Wrong 28 Jan 2019

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Replying to @Cozzy_was_Wrong @johnmaddox and

The tax policy center data tables show "after tax income %" has dropped for every quintile except the top 20%, and the gain in the top quintile is almost all the the top 1% nearly doubling 7.8>13.2% I'm sure there would be further disparity if there was a top .1% .01% etc

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tru-story‏ @Cozzy_was_Wrong 28 Jan 2019

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Replying to @Cozzy_was_Wrong @johnmaddox and

@JamesonHalpern blowing up my notifications :) any thoughts on the various sources i cited? (Really I'm just glad someone other than John and i got through our conversation. ;) There's some valuable discussion here.)

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JamesonLaw‏ @JamesonHalpern 28 Jan 2019

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Replying to @Cozzy_was_Wrong @johnmaddox and

It appears FRED and Pew do not agree on per capita GDP/Purchasing Power.

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tru-story‏ @Cozzy_was_Wrong 28 Jan 2019

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Replying to @JamesonHalpern @johnmaddox and

I don't think there would be many people questioning the status quo at all if the lives the large majority of people are living was better reflected by the FRED graph than the pew/tax policy center/NPR interpretations.

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JamesonLaw‏ @JamesonHalpern 28 Jan 2019

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Replying to @Cozzy_was_Wrong @johnmaddox and

Don't forget to factor in the advances in technology and productivity. In 1964 very few people had a personal computer. In 2018 the median US adult has a smart phone with more processing power and memory than the very best supercomputer of 1964. Also medical advances.

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John Maddox‏ @johnmaddox 28 Jan 2019

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Replying to @JamesonHalpern @Cozzy_was_Wrong and

Most people in the 60s didn't have AC, ONE TV was a big deal, the washing machine was a new concept, and making a long distance phone call was a big deal. Yeah, things have gotten JUST a bit better.

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tru-story‏ @Cozzy_was_Wrong 29 Jan 2019

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Replying to @johnmaddox @JamesonHalpern and

aa quick check on TV prices .. shows its not that useful a metric a B+W 16" cost $259 in 1961 would cost $2157.61 in 2017 a color21" cost $495 in 1961 would cost $4123.62 in " "We got really good at making TVs" not "everyone that has a TV is better off than most people in 1960"

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JamesonLaw‏ @JamesonHalpern 29 Jan 2019

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Replying to @Cozzy_was_Wrong @johnmaddox and

But that's just the point. How much would a 16" B/W TV cost in 2018? Perhaps $25 in 2018 dollars. So everyone got 100X just from technology, productivity gains, and the natural deflation that comes from healthy economic expansion. For this reason I believe the FRED graph.

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Mason ‏ @webdevMason 30 Jan 2019

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Replying to @JamesonHalpern @Cozzy_was_Wrong and

All else held equal, people are better off in a world where a 32" high def color TV costs $120 than one where a 16" B&W TV costs $2,000. It remains true that many people cannot afford either, and so have no preference. One is still better. This is a critical point.

12:43 AM - 30 Jan 2019

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1. JamesonLaw‏ @JamesonHalpern 30 Jan 2019
  
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  Replying to @webdevMason @Cozzy_was_Wrong and
  
  Fair enough, the extremely poor do need some welfare. However, the working/middle class can generally afford a modern TV, smartphone, and lots of other luxuries entirely unavailable 50 years ago.
  
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