Median household income is around 54K. A family of 4 with income in the 25K range will get around 6K in Earned Income Tax Credit, so is their income 25K or 31K?
At 55K this year, we were very average. However, we’ve saved hard our whole lives, own our house and are therefor considered by many to be wealthy.
Not all new cars run $30K. Many are much less. But no, when I was young, I didn’t own a lot of brand new cars either.
And growing up in the 60s, I don’t remember a huge number of vacations. What we took were mostly weekend vacations within driving distance.
Guess I don’t think this article is very honest about the present or about the past.