Average US salary in today's dollars:

1930 - $ 250,000 2010 - $ 50,000

Add to that the declining purchasing power of the dollar, the growing income disparity and the thinning out of the middle and upper-middle class, etc, etc.

Average life expectancy in the US:

1930 - 60 yrs 2010 - 78 yrs

Clearly, Mr. Buffet's statement is PR rather than fact.