Back in 1960, the minimum wage was $1.00/hour and the cost of the average US home was $11,000.00.

When Richard Nixon was elected in 1968, 'middle class' was defined as one job paying for a house, a car, and enough money to send the kids to college. In those days $1 million was considered a vast fortune. After five GOP Presidential terms, middle class was two incomes to support a family of four, and $1 million was what a rich guy paid for a party.