In my high school
years and working at a gas station earning a youth’s wages, the cost of living seemed to be better then it does now. So I did a comparison in relation to now supposedly earning a middle class wage. And it doesn’t seem that I make a whole lot more now then I did as a youth. I would think after 40 years in a profession (Toolmaker) that I would have excelled my wages more.
In 1966 I could pay cash for a house with 15,150 hours of labor, now it’s 7,666 hours.
A postage stamp, I could buy 40 for an hour work, now 63 per hour.
Gasoline 7.14 gal to 10 gal. now.
Eggs 3.3 doz. to 15 doz. Now.
Milk = 2 per hour, now 11 per hour.
Bread = 9 per hr., 12 now.
A new car would take 1250 hours, now 1000 hours (I’ll give it the increase in technology but they don’t last any longer).
Soft drinks = 20 per hour, now 50.
So it seems food
has been a little bit of an improvement, but other needs seem to have increased in cost for me.
But the average wage earner (laborer) in 1966 was $4.08 an hour, now it’s $17.50. Using these numbers:
A house in 1966 was 5,711 hr then to 13,143 hours now.
Stamp = 81.6 stamps to 37.2 now.
Gas = 14.57 gal to 5.83 gal now.
Eggs = 18.55 doz to 8.75 per doz now.
Milk = 4.08 gal to 6.48 gal.
Bread = 18.55 per hr to 7 now.
New car = 612.75 hours to 1,714.28 hr now.
So it seems the average American wage earner has lost
more then half of his pay in relation to 1966. Obviously the economy has been falling for a long time as far as the average wage earner goes….
The rich get richer and the poor get poorer.
It's no wonder the socicalist are moving in, but then that leads to a dictatorship. We need more people to execise
their democracy. It gets harder and hard to start and run a small business. It takes capital to set up and the banks want a good part of the action.
"The rich rule over the poor, and the borrower is a servent to the lender".