(Source: MaddowBlog via Robert Frank chart by way of Ezra Klein)Vocabulary Review: "Median" does not mean average...it means exactly in the middle. If there were a total of 3 workers, it's worker in the #2 spot. If the are 101 workers, then it's worker #51. A median worker has an income smack dab in the middle of all workers. The same goes for median rent.
For Baby Boomers to insinuate that current (young) workers have it so much better off and that they are merely squandering their income on unnecessary toys is insulting and counterproductive to any discussion of economic reality. Not only do Baby Boomers as a group speak from a chronologically privileges position (older workers hold a disproportionate percentage of jobs above the median due to number of years on the job, tenure, experience, etc), they also reference their past with false equivalency.
And a note about the "standard of living" argument. This is not 1950. You can't get ahead through social networking by asking everyone you meet for a card and storing it in your Rolodex. A smart phone is a near necessity if you want to get above that median during your life. Most decent jobs now require applications complete with PDF downloads, uploads, customized cover letters, and more information about your past than one person can possibly remember. Let's not forget that just the cost of attending college has grown at a far faster pace than inflation or wages.
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