Reply #29: The banker provided there are no adjustments to account for inflation

[Selatius]

A person who made 15,000 a year 60 or 70 years ago was better off than a person who makes 15,000 a year today thanks to inflation. In reality, the median wage has stagnated, especially within the last 10 years. It's only been the few at the top who've made the bulk of the gains.

Might want to ask yourself what was the purchasing power of, say, the minimum wage in the past compared to today. That'll give you a guage of where things are currently heading.