What would today be like if things were like they were in 1970?

[PSPS]

Here's a comparison I made using 1970, when one wage earner could support a household, buy the occasional new car and afford to take the family on a vacation every year -- all without taking out a second mortgage or otherwise amassing a lot of debt.

It's an interesting comparison. For example, today's item prices are both higher and lower. The housing figure (taken from my hometown in Portland, Oregon) shows there's still a lot of downward correction necessary (unless we return to the practice of NINJA loans.) Note the tax differential, though. It kind of puts the "lower taxes on the rich creates jobs" myth in perspective. 1970 was around the zenith of the nation's industrial strength and middle class. All dollar figures have been adjusted to be in today's dollars, including the tax brackets and sample income being taxed.

[cleanhippie]

1. Uh, it would be like 1970.

Is this a trick question?

[pinto]

2. Interesting comparisons.

Thanks.

[47of74]

3. A 6 bedroom home for less than 100 grand.

Even where I live that's not all that likely today. Maybe back in the 70s it was, but not anymore with home prices what they are.

[MindPilot]

4. There were not nearly so many "necessities" to pay for.

No cable, no cell plan, no broadband and all the other costs associated with having a computer. You didn't need a financial manager to make sure you could retire. You didn't need a lawyer to explain your health plan.

Credit cards were a little difficult to get, but the interest was regulated and deductible.

[madinmaryland]

8. I was thinking the same thing. Kind of skews the comparison.

[pipi_k]

5. We would all be 40 years younger, for one thing... n/t

[Creative]

6. Please tell me, what does this prove?

And although tax margins were much higher, the loopholes were much larger.

I would like to see the entire tax system simplified. Nobody likes to pay income taxes. But what makes tax time especially aggravating for me is the time it takes just to keep records, read instructions, and fill out the forms.

According to the US Government Printing Office, our tax code spans 13,458 pages. This is ridiculous and rather than squabbling over the rates, we should demand that the tax code be reduced by at least 13,000 pages.

[Graybeard]

7. 30 yrs. 1950-1980 vs. 1980-2010.

I've seen it reported that from 1950-1980

income rose about $13,000.

From 1980-2010 income has risen about

$300. (sorry no link)