These gains in living standards began with the Reagan era of free trade, lower tax rates, a strong king dollar, and a technology explosion continued under Clinton and Trump.
Real median family income in 1982 was $67,000 and it is now $100,800 - an astonishing 50% gain.
These stats, as measured by the Census Bureau, include some government cash benefits like Social Security and unemployment benefits, but do NOT include food stamps, Medicare, Medicaid, or the earned income tax credit. They understate the gains that families have made because they don't include private health benefits, 401k contributions, or capital gains on stock and property.
Trade and technology RAISE median income, they don't reduce it. It's called progress!
