Inflation calculator
Aug 22, 2020 10:41:30 #
buckbrush wrote:
I sure wish that was true but I was paid 50 cents an hour in 1955 working at a Pizza place in Mt. Prospect, ILL.
Do you think I can sue them for the difference???
Boy, with inflation, wouldn't I be a rich fella today???
Only kidding!!!
Do you think I can sue them for the difference???
Boy, with inflation, wouldn't I be a rich fella today???
Only kidding!!!
Federal minimum wage only applies to some jobs, and I believe the jobs covered has changed over time.
Aug 22, 2020 11:52:23 #
IDguy
Loc: Idaho
JRiepe wrote:
There are exceptions to most every rule. Do you believe in general that in the 50's people lived better lives and could afford more than today's general population?
I don’t remember people needing storage garages then. I don’t recall any families having more than one car.
My parents raised the five of us in a house that had four rooms plus one bath on main floor. My dad built the house himself. They were relatively well off because dad was a private contractor.
Aug 22, 2020 11:52:39 #
I couldn't afford to buy the first house we bought in 1970 for $20,500. It is now around $875,000 according to Zillow.
Aug 22, 2020 11:55:35 #
IDguy
Loc: Idaho
dpullum wrote:
When I told student that I made $2 an hour they laughed and retorted how much they made at McD's. I then said that hamburgers were 25 cents, gasoline 25 cents a gallon and a new Chevie was $2,000.
The calculator you presented is depressing.
The calculator you presented is depressing.
White Castle hamburgers were 12 cents.
I got $1.25 an hour for my first job around 1962. Hard work on a farm.
Aug 22, 2020 15:36:29 #
My first full time job in 1964 paid $58.00 per week. I shared an apartment with two others and we split the $35.00 per month rent. Plate lunches at the restaurant by my job were under $1.00. My first new car, a 1970 340 Dodge Dart, cost $3,200 and I still have the invoice.
Aug 22, 2020 15:46:30 #
JRiepe wrote:
My first full time job in 1964 paid $58.00 per week. I shared an apartment with two others and we split the $35.00 per month rent. Plate lunches at the restaurant by my job were under $1.00. My first new car, a 1970 340 Dodge Dart, cost $3,200 and I still have the invoice.
I paid my parents $500 for their 1966 Dodge Dart with a 225cc 'slant 6' engine.
At one time, I had the ledger page he used to keep track of my payments.
Aug 22, 2020 16:50:00 #
buckbrush
Loc: Texas then Southwest Oregon
rehess wrote:
I paid my parents $500 for their 1966 Dodge Dart with a 225cc 'slant 6' engine.
At one time, I had the ledger page he used to keep track of my payments.
At one time, I had the ledger page he used to keep track of my payments.
You couldn't beat that slant 6 with a stick. Great motor!!!
Aug 22, 2020 16:59:52 #
buckbrush wrote:
You couldn't beat that slant 6 with a stick. Great motor!!!
Yeah, even I could work on it.
My wife still reminds me of the time early in our marriage when I had to change a starter in the parking lot of my employer - while she held a flashlight and I grumbled about it's moving {something about mosquitoes}
Aug 22, 2020 18:06:39 #
buckbrush wrote:
You couldn't beat that slant 6 with a stick. Great motor!!!
The 340 I had would really move but in 1990 I bought a Mitsubishi Eclipse 4 cylinder turbo that was just as fast. According to the speedometer I had the Dart going 137mph down I55 south of St. Louis racing another Dart. I never had the Eclipse that fast. I was 20 years older and hopefully 20 years wiser.
Aug 22, 2020 20:02:50 #
rehess wrote:
I paid my parents $500 for their 1966 Dodge Dart with a 225cc 'slant 6' engine.
At one time, I had the ledger page he used to keep track of my payments.
At one time, I had the ledger page he used to keep track of my payments.
225cc ?
Aug 22, 2020 20:57:04 #
I was doing better, with less pay, in the late 70s / early 80s than now at 36% less pay.
--Bob
--Bob
JRiepe wrote:
There are exceptions to most every rule. Do you believe in general that in the 50's people lived better lives and could afford more than today's general population?
Aug 22, 2020 21:00:23 #
Manglesphoto wrote:
225cc ?
Yes, that is how they were measured back then, and at that size it lacked ‘get up and go’, but it got good mileage .
Aug 22, 2020 23:20:57 #
StanMac
Loc: Tennessee
rehess wrote:
Yes, that is how they were measured back then, and at that size it lacked ‘get up and go’, but it got good mileage .
That slant six was probably 225 cubic inches. 225cc is a motor bike engine size.
Stan
Aug 22, 2020 23:47:53 #
cdayton wrote:
The US inflation rate has been very low for 20 years but the national debt has gone from about 50% of GDP to over 130% of GDP today (from 99 to 136 under present administration). The chickens will come home to roost.
Agreed. Inflation is entirely created by government overspending, and nothing else. Wage increases have long been debunked as inflationary; they're completely reactionary.
Inflation is defined as the amount the U.S. government spends over the tax revenues to cover that spending. Of course, the 850 pound gorilla in the room is the FED. They affect financial markets but are not in the market. To me, it's impossible for inflation not to be running at rates over 10% for the past 12 years. Just in the period from 2008-2016, the debt went up to $21 trillion. For inflation not to be high, it requires that Federal debt be paying negative interest rates to the holders of that debt.
Aug 23, 2020 00:04:38 #
StanMac wrote:
That slant six was probably 225 cubic inches. 225cc is a motor bike engine size.
Stan
Stan
I didn't catch that when I read it but yes it would be cubic inches not cubic centimeters.
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