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Message Subject
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I calculated based on minimum wage 30 years ago and cost of living
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Poster Handle
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GemKline |
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Post Content
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Your math is really flawed. You must be using that liberal math.
So I took some household items from 1992 with the prices compared to today’s prices.
Idaho potatoes (5-lb bag) - $1.69
Rye bread (loaf) - 0.99
Oreos (20-oz package) - $1.59
Milk (1-gal) - $2.78
Eggs (dozen) - 0.93
Total 7.98
If you went out and bought the same items today it would be $17.86 (I used instacart). A total of 110% increase since 1992. The minimum wage then was $4.25. A person would have to work almost 2 hours to afford those things. The federal minimum wage should be 110% more than $4.25, so $8.92 would be appropriate but like you said, many states already are well above that.
Quoting: GemKline You are full of shit How am I full of shit? It’s math. Minimum wage was never meant to be a living wage. If a person making minimum wage in 1992 wanted to buy groceries, rent an apartment, buy a used car, it’d be difficult. Just like it is today on $14/hour. It’s all relative. Rent in NYC in 1994 was $1395 for a one bedroom. Now it’s gotta be at least double but also keep in mind to comfortably afford a NYC apartment in 94, you’d have to make roughly $50,000. That was a high salary then. A high salary now would be over $100,000. This is what happens when we assign arbitrary prices to things. As wages increase for menial tasks like the kid at McDonalds wanting $17/hour, be prepared to pay $10 for a cheeseburger.
I used to fill my gas tank once a week at $19. My rent was in gated community on lake for $375/month. A new Toyota pickup was $7,500. I used to buy fish and salsa a lot and they were 300% cheaper :)
You are a lying botNo. $1.15/gal is a 300% increase. I know percentages are hard. How much is that rent now? If it’s tripled, that’s a 200% increase. MSRP on a Toyota Tacoma is $27-28k. Toyota is a low end truck. Anyway, I’m not denying inflation. I’m just saying, wages have increased significantly over that time period too so it’s kind of all relative.
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