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Date: 09/06/13 09:17 AM

32 Responses to 1963 Vs 2013 – Minimum Wage Comparison [Pic]

  1. Profile photo of SweepOfDeath
    SweepOfDeath Male 18-29
    938 posts
    September 6, 2013 at 9:20 am
    Link: 1963 Vs 2013 - Minimum Wage Comparison - How long does a minimum wage earner have to work to buy...
  2. Profile photo of slightlys
    slightlys Male 18-29
    92 posts
    September 6, 2013 at 9:45 am
    You have to love inflation.
  3. Profile photo of greenbasterd
    greenbasterd Male 18-29
    2377 posts
    September 6, 2013 at 9:53 am
    now do an ounce of gold, and realize why we are so drated
  4. Profile photo of nubblins
    nubblins Female 18-29
    1743 posts
    September 6, 2013 at 10:12 am
    That new house one.. ouch.
  5. Profile photo of coldCanuck
    coldCanuck Male 13-17
    296 posts
    September 6, 2013 at 10:25 am
    Inflation is a regular thing (and a good thing), central banks actually try to control it not do away with it. It`s when you look at the time needed to get such things like a house that you realise it`s fudgeced
  6. Profile photo of dang007
    dang007 Male 30-39
    599 posts
    September 6, 2013 at 11:11 am
    So the things that the government have been most worked up about in the last 30 years, cost of gas, ability to purchase a new home, autos. All cost considerably more after all that government intervention. Not really surprising to me.
  7. Profile photo of handimanner
    handimanner Male 60-69
    2095 posts
    September 6, 2013 at 11:24 am
    My first job, Night Mgr at a Jack-in-the-Box, 1970.
    I made $1.25 an hour.
    Gas was 11 cents a gal.
    Bread was 25 cents a loaf
    Cigarettes were 24 cents a pack.
    Pot was $10 an ounce.
  8. Profile photo of kree_
    kree_ Male 30-39
    1062 posts
    September 6, 2013 at 11:24 am
    @frozenwolverine

    Assuming inflation is a good thing. They really should tie minimum wage to it.
  9. Profile photo of drawman61
    drawman61 Male 50-59
    7752 posts
    September 6, 2013 at 11:39 am
    That seems a lot for the concert ticket. I started going in the late 70s and they were only 3 or 4 pounds then.
  10. Profile photo of kree_
    kree_ Male 30-39
    1062 posts
    September 6, 2013 at 11:59 am
    I don`t know about the 70s, but in the late 80s a pound was worth about 2 dollars.
  11. Profile photo of Andrew155
    Andrew155 Male 18-29
    2579 posts
    September 6, 2013 at 12:01 pm
    Keynesian inflation.


    However, be skeptical with these sorts of things. Lots of other factors have changed, like the Earned Income Tax Credit. So the comparison is a little off from the reality.
  12. Profile photo of Andrew155
    Andrew155 Male 18-29
    2579 posts
    September 6, 2013 at 12:03 pm
    Though it`s not clear if the numbers they use are based on the whole wage, or the after tax wage.
  13. Profile photo of papajon0s1
    papajon0s1 Male 40-49
    579 posts
    September 6, 2013 at 12:18 pm
    This bugs me because it`s not that I hate money, money, I think money hates me. ...Wish we didn`t even have money.
  14. Profile photo of whirlygirl
    whirlygirl Female 30-39
    232 posts
    September 6, 2013 at 12:21 pm
    $45 for a Beach Boys ticket??? I thought you could see them for free at state fairs and such...
  15. Profile photo of kree_
    kree_ Male 30-39
    1062 posts
    September 6, 2013 at 12:36 pm
    @old people

    how much did an album cost?
  16. Profile photo of OldOllie
    OldOllie Male 60-69
    15841 posts
    September 6, 2013 at 1:10 pm
    how much did an album cost?
    When I was in HS, ~1970, albums were $4-5, and concert tickets were $3.50, $4.50, and $5.50. Gas was 29.9 cents, and cigs were $2.50/carton or 28 cents a pack. The gas station had a machine took 30 cents, and you took 2 pennies from a flat box on top of the machine.
  17. Profile photo of DromEd
    DromEd Male 40-49
    1947 posts
    September 6, 2013 at 1:10 pm
    RE: album costs...

    I bought most of mine for 6-7 dollars but that was at a small independent shop. The mall record shops were charging around 8.50 .

    That was the early 1980`s.
  18. Profile photo of kree_
    kree_ Male 30-39
    1062 posts
    September 6, 2013 at 1:15 pm
    So if vinyl is 20-30 today, that makes music pretty cheap compared to the past.
  19. Profile photo of AntEconomist
    AntEconomist Male 40-49
    356 posts
    September 6, 2013 at 2:35 pm
    In 1963, the typical car lasted for about half as many miles as a typical car lasts today. So, the correct comparison is 1963: 123.8 weeks vs 2013: 76.6 weeks.
  20. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36874 posts
    September 6, 2013 at 3:32 pm

    I`d rather see more survival stuff like rent, more food items. A hospital stay. College tuition.
  21. Profile photo of CrakrJak
    CrakrJak Male 40-49
    17514 posts
    September 6, 2013 at 5:16 pm
    I believe the gallon of milk comparison is likely the best of them. Gasoline costs more now, but today`s cars get 4-5 times better gas mileage. Home prices are still overly inflated as are phone bills.

    But, roughly, everything is 11 times more expensive than it was back then, due to inflation. So the minimum wage should be 11 times the 1963 minimum wage of $1.25, which is $13.75
  22. Profile photo of kree_
    kree_ Male 30-39
    1062 posts
    September 6, 2013 at 5:41 pm
    less bitching about the infograph. more old timey stories about nickel stores, and dime candy.
  23. Profile photo of CaptKangaroo
    CaptKangaroo Male 50-59
    2348 posts
    September 6, 2013 at 5:45 pm
    To some folks, the moral of this would be to increase their skill set to make them more valuable in the workplace.
    To others it`s: Wah!Wah! Wah! Pay me $15 an hour to flip burgers so I can buy all the stuff I want, have all the kids I want and buy a house- just like the people who learned real, marketable skills.
  24. Profile photo of obhwfgirl
    obhwfgirl Female 18-29
    582 posts
    September 6, 2013 at 7:07 pm
    @CaptKangaroo

    It isn`t reasonable to pay $15 for a low-skill job, but it also isn`t reasonable to give out the advice "go learn a skill." If someone can`t afford food and they`ve always lived in poverty, how exactly do you propose they pay for an education?


    There`s always going to be people who are on the bottom rung, but 15% of our country is below the poverty line. Those are people who take more $$ than they put in. They`re a symptom, not the virus. The solution isn`t to say `drat you` and take away their welfare. The solution is to level the playing field. For all that we tout the "American Dream", we have the lowest social mobility of any developed country. We`re the wealthiest nation on earth, but nearly 50% of that is concentrated in the top 10%. That`s drated up.
  25. Profile photo of fancythat
    fancythat Male 30-39
    1950 posts
    September 6, 2013 at 8:26 pm
    Where does one find a pound of bread for $1.88?
  26. Profile photo of razbitom
    razbitom Male 40-49
    913 posts
    September 6, 2013 at 10:37 pm
    where does one find a beach boys concert?
  27. Profile photo of carmium
    carmium Female 50-59
    6381 posts
    September 7, 2013 at 1:09 am
    razbitom: Vancouver, for one, They (or what`s left of `em) were playing at the Pacific National Exhibition last month.
  28. Profile photo of jimbobsthebe
    jimbobsthebe Male 18-29
    639 posts
    September 7, 2013 at 5:13 am
    @obhwfgirl

    Wealthiest nation on earth? You forget China my dear... and guess who all that national debt belongs to.
  29. Profile photo of paperduck
    paperduck Male 18-29
    1745 posts
    September 7, 2013 at 5:18 am
    Home and auto prices is a little tricky to compare directly because of interest rates. I`m told stories of folks getting 9.9% and being happier than a pig in poo.
  30. Profile photo of nick12684
    nick12684 Male 18-29
    85 posts
    September 7, 2013 at 7:16 am
    this is not a problem for wages, but because the value of the money has been nearly destroyed
    .
  31. Profile photo of Viking864
    Viking864 Male 40-49
    1444 posts
    September 7, 2013 at 1:54 pm
    Some of the larger items are misleading. A cay today lasts a lot longer then one from the 60s. Also on average a tank of gas goes a lot further as well. Houses today are better built then the ones from 60s.
  32. Profile photo of Keggar
    Keggar Male 50-59
    54 posts
    September 8, 2013 at 7:10 am
    I wish liberals would really get behind their great ideas! Say like raising the minimum wage to a million dollars an hour. Then we can all work for a couple of hours and retire with everything we ever wanted. Liberals ideas are so smart!... Stupid is as stupid does. Wake up America!

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