Changes in Living Costs Over the Past 25 Years

I recently watched the following video by Elizabeth Warren:

She stated that as the United States has went from a one worker family to a two worker family that economic stability has drastically decreased. Now families need 2 paychecks (104 weeks a year vs 52 weeks a year in the past) plus they do not have a stand-in worker if either gets injured…both need to work all the time.

Economic research has shown that in spite of the increased capital gained through improvements in productivity and 2 workers in the workforce that many families have less disposible income. This is largely driven from the following inflation adjusted increases over the past ~ 25 years

  • 25% increase in taxes
  • 76% increase in mortgage costs
  • 74% increase in health insurance
  • the new cost of childcare (nobody at home to take care of the kid when both parents work outside the home)