Word: earner
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Dates: during 1970-1979
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...Bureau of Labor Statistics estimates that 30.4 million U.S. families (53% of the total) have at least two earners; their median income is $20,400, or $7,200 above that of one-earner families. But this includes couples of all ages with some of the spouses working only part-time. Yet there is a powerful and growing subgroup: moneyed, self-indulgent, career-oriented families in which the husbands are in their mid-20s to mid-30s. Of the 11 million families in this age bracket, nearly four million are households where the wife has a full-time job. And many...
...since they saw their parents hurt by inflation and market plunges. Compared with young couples ten or 20 years ago, they spend more and plan less for the future, figuring that something (Medicare, Social Security or private pensions) will take care of that distant tomorrow. Collectively, these young two-earner families are a new elite...
...elite spends more than traditional single-earner families on entertainment, furniture, cameras, kitchen equipment, cars, travel. Compared with older affluent people, they spend more casually on golf, tennis and swimming club memberships. They buy more fast-food take-outs and restaurant meals; when cooking at home, they prefer costlier foods and wines. They pay freely for child care, and the working wife needs her own full wardrobe of office clothes. Their philosophy is expressed by a community service representative for Los Angeles Mayor Tom Bradley, Robert Molina, 24, whose wife is a clerk in the sheriffs office: "When...
...been forced to become two-earner families, and are still being hit with the triple whammies of higher Social Security, inflation pushing them into higher income-tax brackets, and those property taxes. They feel put upon." Commenting on Proposition 13, Florida's Democratic Congressman Sam Gibbons declared: "It's one of the healthiest things that's happened in a long time. I thought California was the most overbloated state government I'd ever seen, and the Federal Government is overstuffed and can stand a lot of trimming down...
...exceptional handful did spectacularly well in 1977, even though their raises were not much. The nation's biggest executive earner was Henry Ford II, chairman of Ford Motor Co. Last week the company announced that his salary and bonus edged up 2%, to $992,000. In all, General Motors Chairman Thomas Murphy earned $975,000, an increase of 2.6% over the year before. Mobil Chairman Rawleigh Warner Jr. got $725,000, up 4% from 1976. (For some other high executive moneymakers, see listing...