Reply to post: Re: To err is human...Punch cards devine

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Anonymous Coward
Anonymous Coward

Re: To err is human...Punch cards devine

The 1970's with it's punch cards was good times, a peak in many ways for Canadians, and I'm not talking Fortran WATFOR or WATFIV.

Back then the average family income was about $10,000. That's about $65,000 today, which if you look up family income is still roughly about the middle of family incomes today. No real growth but apparently not much of a set back, until we look at where that income comes from and goes.

In 1970's family income was usually from a single income. Today almost all $65K families are at least dual income and thanks to dramatic changing in Canadian taxes, from who and how much is collected they do not get to keep much of that. Even the US numbers show us what good times the past was when it came to growth and optimism. .

"Expressed in 1950 dollars, U.S. median household income in 1950 was $4,237. Expenditures came to $3,808. Savings came to $429, or 10 per cent of income. The average new-house price was roughly $7,500 – or less than 200 per cent of income. By 1975, however, it took 300 per cent of median household incomes to buy a house; by 2005, 470 per cent."

Many more years in school and training are required to get a job, all adults in a family have to work, most at jobs with much longer hours and often no benefits and today it is almost impossible to get a detached house in a major Canadian city for even 10X the annual income of the average high school graduate.

When I look fondly at punch cards I am reminded that the good times was largely the result of citizens being "allowed" to share in the wealth they were creating.

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