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Message Subject I calculated based on minimum wage 30 years ago and cost of living
Poster Handle Anonymous Coward
Post Content
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
 Quoting: Anonymous Coward 83728142


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.
 Quoting: GemKline


I lived in the best area of Manhattan in 1999 and rent was definitely not what you’re saying. I had a studio for around $600 a month and that was 5 years after 1994. Now though, I know that same studio rents for about $2k or more (it was already $1500 a month in 2002!).
 
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