It is well documented that actual purchasing power has been declining since the 1970's. Inflation hides it because salaries keep rising, but the middle class has taken a huge pay cut because their money doesn't go as far.
I read something that said that wages have doubled since the 70s but the cost of living has gone up six-fold.
I read something that said that wages have doubled since the 70s but the cost of living has gone up six-fold.