[orangecat]

A typical American male who works full time is earning almost exactly the same as his counterpart was when Nixon was president

Which just means that income is an inadequate measurement. How many Americans would prefer to live in 1975 than today?

[keithnoizu]

   It is my understanding, citation needed perhaps, that over all cost of living was lower in 75. So perhaps there were no iphones, ssd hard drives, big screen plasma televisions, xboxs, etc. but on a single income (not one of our 100k plus incomes but a regular joe income) you could likely afford a home, a nice car, etc.

[gamble]

Probably a few people out there who wouldn't mind having affordable health care.

[lucasjung]

Affordable health care that doesn't include all of the advances in treatment (procedures, pharmaceuticals, technologies, etc.) that have come about in the past 36 years?

To give an example that affects most people in small ways: in 1975 I would be wearing heavy, uncomfortable glasses all day, and would fully expect to wear dentures after a certain age. Instead, my vision has been corrected to be perfect and I will almost certainly chew my last meal with my own teeth. My Dad had cataract surgery a couple of years ago: the new lenses are so great that he no longer even needs reading glasses. They had cataract surgery in 1975, but not with the kind of results my Dad experienced.

To give an example that affects a smaller number of people in a bigger way: since 1975, survival rates for many types of cancer have increased dramatically. Similar effects for heart disease.

I'm not trying to say that all of the increases in cost of health care are due to increased availability of treatment options, but it's almost certainly a big driver. Would you accept a health care plan that charges 1970s rates (in real dollars) but restricts you to 1970s medicine? If you are young and healthy, it might actually be a good deal, except for the dental plan.

[sabat]

That's not an excuse for radically inflated prices.

[drivebyacct2]

I guess I figured in the context of money and wealth that income was a pretty decent measurement. Unless you're talking investments. (But then again, the top 1-5% having huge amounts of their wealth tied in investments is how many manage to pay less taxes than the middle/low class, so I doubt it)