Comments by "worn down" (@worndown8280) on "What (Really) Happened in 1971 Was A Good Thing" video.

  1. I would ask how are they defining income? Is income a pay check of from things like stock shares and other sources. The tax reform act of 1969 changed a lot of things that most people are ignorant of. At the same time the baby boomers swamped entry level positions, due to their age cohort size, and stifled income growth. It did so much so that women then had to chose between a lower standard of living or to work full time. Its why as the boomers retire, around 2020, we saw massive wage inflation that will spike periodically over the next decade as the last of the boomers cycle out. The only thing that might stop wage inflation is adoption of AI but even then, for the workers that are left, their incomes will increase if there is a limited number of individuals who can do it. Throw in additional things like massive amounts of legal immigration post 65 and an absolute tsunami of illegal immigration in the 1970s and 80s you have your answer.
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