One of the (many) things that’s frustrating about the current debate over extending the Bush tax cuts is the meme that, well, 250 grand just isn’t what it used to be. Why, in some places it’s just enough to make ends meet! Media Matters carries an excellent take-down of an LA Times fluff story that makes that point. Useful, perhaps, as part of a class exercise on inequality in the US.
Update: Philip Cohen has an excellent breakdown of family budgets at median and “wealthy” points here.