libartsreader

More households subscribe to services today, which inflates the "average expenditures" data cited below: 93% of 1988 households had a landline, 53% cable TV, and 63% newspaper. Compare with today's household services penetration: 98% mobile phone, 94% broadband, and 74% streaming media.

You’re right that this is less than the cost of internet + cell + streaming services today — these are ~50% higher than the 1988 bundle — but consider the differences: you can access almost any kind of content from almost anywhere. And you can consume it on a smart phone or TV that costs 75% less in real terms than that TV from 2000.

Meanwhile, real median household income grew from ~$65,130 in 1988 to $83,730 in 2024 — and furthermore, the tax burden on the middle class fell during this period.