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Updated: May 24, 2025
Workers are making more money than ever with after-tax income in the past 5 years up 33 percent; in the last year alone, up 8 percent. More people are working than ever before in our history an increase last year of 2 1/2 million jobs. Corporations have greater after-tax earnings than ever in history.
Last year, in 1966: Wages were the highest in history and the unemployment rate, announced yesterday, reached the lowest point in 13 years; Total after-tax income of American families rose nearly 5 percent; Corporate profits after taxes rose a little more than 5 percent; Our gross national product advanced 5.5 percent, to about $740 billion; Income per farm went up 6 percent.
Last year, in 1966: Wages were the highest in history and the unemployment rate, announced yesterday, reached the lowest point in 13 years; Total after-tax income of American families rose nearly 5 percent; Corporate profits after taxes rose a little more than 5 percent; Our gross national product advanced 5.5 percent, to about $740 billion; Income per farm went up 6 percent.
Today a working family earning $25,000 has $1,100 more in purchasing power than if tax and inflation rates were still at the 1980 levels. Real after-tax income increased 5 percent last year. And economic deregulation of key industries like transportation has offered more chances or choices, I should say, to consumers and new changes or chances for entrepreneurs and protecting safety.
Workers are making more money than ever with after-tax income in the past 5 years up 33 percent; in the last year alone, up 8 percent. More people are working than ever before in our history an increase last year of 2 1/2 million jobs. Corporations have greater after-tax earnings than ever in history.
Today a working family earning $25,000 has $1,100 more in purchasing power than if tax and inflation rates were still at the 1980 levels. Real after-tax income increased 5 percent last year. And economic deregulation of key industries like transportation has offered more chances or choices, I should say, to consumers and new changes or chances for entrepreneurs and protecting safety.
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