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sinkingfeeling

(57,817 posts)

34. Not compared to income. Here's the 1st. paragraph from the 1977 Census on

Tue Jan 15, 2013, 10:36 AM

Jan 2013

Household Incomes Report.

"The median money income of households in the United States rose to $13,550 in 1977, a 7-percent increase from the 1976 median income of $12,690. However, almost all of this increase was eroded by rising prices. After adjusting for the 6.5 percent rise in prices between 1976 and 1977, the 1977 median in terms of constant dollars did not show a significant change from the 1976 median."

http://www2.census.gov/prod2/popscan/p60-117.pdf

Mortgage rates averaged 8.9% on a 30 year. Per capita income was a whole $5,730. The per capita income in 2011 was $26,708 or 4.66 times more. Based on that and prices of things in 1977, a gallon of milk should now cost $7.83! (Was $1.68 in '77) and a dozen eggs should be $3.82 and a gallon of gas should be $3.02, exactly what it's selling for here!

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Some clarification for those who post about their paycheck going down. [View all] Glassunion Jan 2013 OP

Very good job summarizing the effect January 1 has on so many paychecks. . . Journeyman Jan 2013 #1

Thanks. Glassunion Jan 2013 #2

Are these the same rates as during the Reagan years? It seemed more, plus IRS was higher, too. freshwest Jan 2013 #3

I recently found my 1977 tax booklet and return. I paid a 34% tax federal rate sinkingfeeling Jan 2013 #4

Thanks, that sounds similiar. At any rate, I managed to live on it. freshwest Jan 2013 #6

The problem is that prices are so much higher now. yardwork Jan 2013 #22

We need to convince the 60 million and their families who voted for Romney. freshwest Jan 2013 #23

What I don't understand is why so many people go along with being brainwashed. yardwork Jan 2013 #24

A substantial number of baggers have jobs from privatization. freshwest Jan 2013 #25

Not compared to income. Here's the 1st. paragraph from the 1977 Census on sinkingfeeling Jan 2013 #34

We do need a radical socialist movement. Fantastic Anarchist Jan 2013 #36

The personal exemption was $750 in 1977 dems_rightnow Jan 2013 #20

You're correct. The $35 times number of dependents was a temporary general tax sinkingfeeling Jan 2013 #33

During Reagan the FICA withholdings were lower. Glassunion Jan 2013 #5

Thanks. freshwest Jan 2013 #7

They are higher than during the Reagan years. whopis01 Jan 2013 #29

See also: The cost of your next prescription cthulu2016 Jan 2013 #8

I'm sorry to hear that. Glassunion Jan 2013 #11

It sure seems like it was easier for them to let the holiday expire than it was to hold the banks jtuck004 Jan 2013 #9

I hear you. Glassunion Jan 2013 #10

Actually St. Raygun doubled it in 1983 ErikJ Jan 2013 #13

SS tax did not double under his presidency. Glassunion Jan 2013 #14

1980/8% to 1990/15.3% ErikJ Jan 2013 #15

A few things... Glassunion Jan 2013 #16

Your table is bad ErikJ Jan 2013 #17

I realize that now. My bad. It was the first result in google. Glassunion Jan 2013 #21

Social Security Benefits calculator. ErikJ Jan 2013 #12

Good information. johnp3907 Jan 2013 #18

When you pay less into SS you get less...... Historic NY Jan 2013 #26

Well stated... WCGreen Jan 2013 #19

If you make more than the cap, you would have had no Still Sensible Jan 2013 #27

If you make more than the cap would you be pissing and moaning Glassunion Jan 2013 #31

You haven't seen any number of DUers complain against removing/lifting the contribution cap? Romulox Jan 2013 #35

Only George Bush tax holidays last forever. dkf Jan 2013 #28

So says you. Glassunion Jan 2013 #32

K & R Scurrilous Jan 2013 #30