This is before the inflation period of the 70s. Individual income of $20,000 was comfortably in the top 5%. Median rent in New York City, for example, was $108/month in 1970. $47k in 1973 is about $300k in 2022 dollars. Phil’s doing fine.
In reference to:WARRENSVILLE HEIGHTS, Ohio, March 8, 1977 (UPI)—President Carter promised today to talk with Corey Moore, 26 years old, if the black gunman would give up a two‐day siege and release the white police captain he has been holding hostage in City Hall.
This is before the inflation period of the 70s. Individual income of $20,000 was comfortably in the top 5%. Median rent in New York City, for example, was $108/month in 1970. $47k in 1973 is about $300k in 2022 dollars. Phil’s doing fine.