In 1955 when men actually looked like Robert Mitchum, not Mitch Cumstain, a guy could make a good salary, of $18K working as an assistant plant manager. He could buy a brand new three bedroom two story home for $15K and a top of the line Buick Super for $2200. On top of that he could afford to support a wife that looked like Janet Greer along with three kids including his red haired step child, Mitch Cumstain, on just the one salary.
Come with me now on a trip to the abyss as Mitch Cumstain grows up: In 2005, that same house sold on the market for $315K. A top of the line Buick that same year was 30K. Thus Mitch’s salary, that is Mitch Cumstian’s salary, to have the same buying power, would have to be about $365K a year. This is not the salary of an assistant plant manager in 2009. Of course Mitch works in the food processing business and makes a respectable $40K a year. In 55, gasoline was 25 cents a gallon and Mitch Cumstain’s top price fill up in 2007 was $5 a gallon.
In 1955 Mitch was the only child in his school born out of wedlock. In 2009, 51% of all US births were of similar circumstances, and those kids went on to become wards of the state, getting WIC, Medicaid, food stamps, day care, welfare, and free lunch. In 55, Manufacturing and smokestack businesses were the envy of the world. Immigration was limited to just 120K people a year. [more]
First why is health care so expensive? [more]