1963 Vs 2013 - Minimum Wage Comparison [Pic]

Submitted by: SweepOfDeath 4 years ago in Misc

How long does a minimum wage earner have to work to buy...
There are 32 comments:
Male 54
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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Male 1,449
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.
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Male 85
this is not a problem for wages, but because the value of the money has been nearly destroyed
.
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Male 1,745
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.
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Male 639
@obhwfgirl

Wealthiest nation on earth? You forget China my dear... and guess who all that national debt belongs to.
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Female 6,381
razbitom: Vancouver, for one, They (or what`s left of `em) were playing at the Pacific National Exhibition last month.
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Male 916
where does one find a beach boys concert?
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Male 1,949
Where does one find a pound of bread for $1.88?
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Female 582
@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.
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Male 3,213
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.
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Male 1,152
less bitching about the infograph. more old timey stories about nickel stores, and dime candy.
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Male 17,511
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
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Male 39,958

I`d rather see more survival stuff like rent, more food items. A hospital stay. College tuition.
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Male 374
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.
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Male 1,152
So if vinyl is 20-30 today, that makes music pretty cheap compared to the past.
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Male 2,694
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.
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Male 15,832
[quote]how much did an album cost?[/quote]
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.
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Male 1,152
@old people

how much did an album cost?
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Female 232
$45 for a Beach Boys ticket??? I thought you could see them for free at state fairs and such...
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Male 579
This bugs me because it`s not that I hate money, money, I think money hates me. ...Wish we didn`t even have money.
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Male 2,578
Though it`s not clear if the numbers they use are based on the whole wage, or the after tax wage.
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Male 2,578
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.
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Male 1,152
I don`t know about the 70s, but in the late 80s a pound was worth about 2 dollars.
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Male 7,774
That seems a lot for the concert ticket. I started going in the late 70s and they were only 3 or 4 pounds then.
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Male 1,152
@frozenwolverine

Assuming inflation is a good thing. They really should tie minimum wage to it.
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Male 2,150
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.
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Male 663
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.
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Male 296
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
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Female 1,743
That new house one.. ouch.
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Male 2,376
now do an ounce of gold, and realize why we are so drated
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Male 92
You have to love inflation.
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Male 938
Link: 1963 Vs 2013 - Minimum Wage Comparison [Pic] [Rate Link] - How long does a minimum wage earner have to work to buy...
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