Men earning less today than their fathers?

A recent study on earnings has revealed some disturbing information, that American men in their 30s are earning less than their father's generation. That goes against one of the basic beliefs that each generation is better off than the one before it.

Relying on Census Bureau figures, the study's authors found that after adjusting for inflation, men in their 30s in 2004 had a median income of about $35,000 per year, for a 12 percent drop compared with $40,000 per year for men in the same age group in 1974.

That stood in stark contrast to men in their 30s in 1994, who earned 5 percent more than their fathers did.

Similarly, American families, which experienced a 32 percent increase in income levels between 1964 and 1994, saw household income growth slow to 9 percent between 1974 and 2004, according to the report.

Is the study reliable? Well it was done by Pew Charitable Trusts, the American Enterprise Institute, the Brookings Institute, the Heritage Foundation and the Urban Institute, they are normally considered reliable...