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Economy

Cicada

(4,533 posts)

18. Here is my source for income outpacing inflation

Reply to unblock (Reply #17)

Mon Jan 10, 2022, 11:56 AM

Jan 2022

Look at the blue line for 2021. I agree with what you said about 2020. https://seekingalpha.com/article/4478222-median-household-income-november-2021

As to the poor, their wages per hour went up way more than inflation. Didn’t Biden say it rose 14%?

I may be off base using median income. I am just doing a rough back of the envelope approximation to get a guess as to whether inflation is bad for “most Americans. “

I’m sure inflation is bad overall in the long run. I just don’t see it as the most important problem for people or the end of the world as Fox News sees it. I do tax returns for hundreds of people, including a lot of poor people. I don’t see them suffering in this economy. In fact I see them doing better than before the pandemic. But that’s my unscientific feel and I might be wrong.

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Is inflation really bad for most people? [View all] Cicada Jan 2022 OP

Yes, it is terrible, I lived thru the 70's, and early 80s progree Jan 2022 #1

Inflation adjusted Median household income is up in 2021 Cicada Jan 2022 #4

OK you got me on the median household income up in 2021 vs. 2020 - thanks to many more progree Jan 2022 #7

Inflation is complicated in practice. unblock Jan 2022 #2

During the year 2021, no lag, median household income rose more than 9%, inflation plus 3 Cicada Jan 2022 #6

... progree Jan 2022 #9

Progee 64% of Americans have a mortgage Cicada Jan 2022 #15

Simulation: The mortgage holders and other fixed rate debt holders benefit in the short run, progree Jan 2022 #26

in the long-run, it's mostly a transfer of wealth from savers to borrowers unblock Jan 2022 #13

Median households in 2021 had 9% income gain, bigger than 6% inflation Cicada Jan 2022 #16

Where are you seeing that income stat? unblock Jan 2022 #17

Here is my source for income outpacing inflation Cicada Jan 2022 #18

There's a lot of good news in the economy especially for the working poor unblock Jan 2022 #22

A lot of us here are on fixed incomes left-of-center2012 Jan 2022 #3

Those getting social security and govt retirement get pay hikes equal to inflation Cicada Jan 2022 #5

Sustained inflation over a long period of time certainly helps Tomconroy Jan 2022 #8

If you believe that the official inflation adjustment applies exactly to your own expenses, it does MichMan Jan 2022 #11

social security adjustments both lag and underadjust for consumer inflation unblock Jan 2022 #14

I agree social security should use a better cola adjustment Cicada Jan 2022 #20

Median household income up 9%? Throck Jan 2022 #10

9% is household income, more spouses got jobs, less part time work Cicada Jan 2022 #21

Inflation affects retired people on a fixed income more than most. Sure we get a COLA raise doc03 Jan 2022 #12

Several hours after my post here CNN stole my story Cicada Jan 2022 #19

When you pay debt you're only funding the billionaires banks. Throck Jan 2022 #23

We need to reduce housing costs Cicada Jan 2022 #24

High inflation increases housing costs MichMan Jan 2022 #25