Subdeacon Joe Posted December 28, 2023 Share Posted December 28, 2023 From 1958. Minimum wage was $1.00/hour. Average household income was about $6,000/year. One source said $5,100/year. Link to comment Share on other sites More sharing options...
watab kid Posted December 28, 2023 Share Posted December 28, 2023 sadly we shall never again see prices like that , i do remember tho , and i remember the same comments of "its too expensive" from those paying , but moves were a nickel and there was product in the five and dime worth exactly that , but i remember my new 67 mustang sprint being about $2500 too , and that was a lot ten years later , but we shall never see a sambos restaurant again either will we ? for those that dont know it was an eatery like the one above based on that kids tale of the kid and the tiger and butter that was so innocent as to lend itself to pancakes till some liberal decided it was racist - yup the kid was black , sad tho - the food was good Link to comment Share on other sites More sharing options...
Subdeacon Joe Posted December 28, 2023 Author Share Posted December 28, 2023 11 hours ago, watab kid said: sadly we shall never again see prices like that The other side of that equation is that we will never see minimum wage like that again, nor an annual average household income of $6,000. Looking at the Porterhouse Steak, it's about 2.5 hours at minimum wage. So at the California minimum wage today that's ~$37.50. Not really that far off in terms of labor at minimum wage. Link to comment Share on other sites More sharing options...
watab kid Posted January 2 Share Posted January 2 On 12/28/2023 at 2:26 PM, Subdeacon Joe said: The other side of that equation is that we will never see minimum wage like that again, nor an annual average household income of $6,000. Looking at the Porterhouse Steak, it's about 2.5 hours at minimum wage. So at the California minimum wage today that's ~$37.50. Not really that far off in terms of labor at minimum wage. when i was making minimum wage - dark ages , i wasnt buying steak , Link to comment Share on other sites More sharing options...
Subdeacon Joe Posted January 2 Author Share Posted January 2 29 minutes ago, watab kid said: when i was making minimum wage - dark ages , i wasnt buying steak , Neither was I. But I think it's a good metric to see how prices have changed. Link to comment Share on other sites More sharing options...
watab kid Posted January 2 Share Posted January 2 dont disagree with the comparison but i was looking at what folks can afford doesnt always equal what they might choose to spend money on , when it comes down to gas , heat , and food to sustain that dollar gets mighty lean these days , i was hoping to see things get better for everyone but thats not the way its going , they get a raise [if you call higher minimum wage a raise] then inflation and taxes takes it all away - no net gain , no savings , more debt ..................and the poor stay poor - right where the demo/commies want them , Link to comment Share on other sites More sharing options...
Subdeacon Joe Posted January 2 Author Share Posted January 2 2 minutes ago, watab kid said: dont disagree with the comparison but i was looking at what folks can afford doesnt always equal what they might choose to spend money on , when it comes down to gas , heat , and food to sustain that dollar gets mighty lean these days , i was hoping to see things get better for everyone but thats not the way its going , they get a raise [if you call higher minimum wage a raise] then inflation and taxes takes it all away - no net gain , no savings , more debt ..................and the poor stay poor - right where the demo/commies want them , The only things that have greatly changed in terms of hours of labor at minimum wage are housing, cars, healthcare, and fuel. Clothing, food, entertainment have stayed pretty much the same. Just as "wealth distribution." We kept hearing about "The 1%!!!" and how much of the national wealth the held, or the top 5% held. Well, since about 1929 it hasn't really changed much. And if you look at world average, our "poor" have a higher standard of living then the middle class in Europe, depending on which study you pick. Link to comment Share on other sites More sharing options...
Warden Callaway Posted January 2 Share Posted January 2 We stopped in at one of our favorite diners the other day. New menus. Not new food, new prices. Up maybe 50%. Plain hamburger was $10.00. On up to $15 range with cheese and fries. We ordered one (small) egg, sausage, hash browns and a biscuit, $9.00. I was pleased to see two sausage patties. But they were about 1/8" thick. Add extra egg, $1.00 each. Meat loaf special was $15.00. Service was excellent. Little waitress was friendly and efficient. Almost at a run all the time. Link to comment Share on other sites More sharing options...
Pat Riot Posted January 2 Share Posted January 2 It does me no good to look at the past in regards to money and what things cost. I can remember as a kid buying Christmas gifts for my whole family with $15 earned by shoveling snow off sidewalks. That was 1971. I worked my 10 year old butt off to earn that money. I am pretty sure I know why costs went up in the last couple of years. I retired. Link to comment Share on other sites More sharing options...
Warden Callaway Posted January 2 Share Posted January 2 In 1970 I could take my new Cutless Supreme, fill with gas, pick up my main squeeze and go to drive in, then stop at A&W to to get root beer, burger and fries. Have pocket change left over. Link to comment Share on other sites More sharing options...
watab kid Posted January 3 Share Posted January 3 1 hour ago, Subdeacon Joe said: The only things that have greatly changed in terms of hours of labor at minimum wage are housing, cars, healthcare, and fuel. Clothing, food, entertainment have stayed pretty much the same. Just as "wealth distribution." We kept hearing about "The 1%!!!" and how much of the national wealth the held, or the top 5% held. Well, since about 1929 it hasn't really changed much. And if you look at world average, our "poor" have a higher standard of living then the middle class in Europe, depending on which study you pick. so basically nothing has gotten better ....."The only things that have greatly changed in terms of hours of labor at minimum wage are housing, cars, healthcare, and fuel." really thats a lot .but we got it better than the europeans so we should be thankful for what we got - and dnt expect any better ? im sorry sorta put words in your mouth , i know your using statistical data here , in most cases those can be adjusted to make whatever you want yet i sense your not doing that , in the big picture id like to see things improve and the general impression is its not , its currently worse when we are being told that its all rosy , im not buying that and i dont think a lot of folks believe it either , we shall see what folks think this year as it plays out , Link to comment Share on other sites More sharing options...
Red Gauntlet , SASS 60619 Posted January 3 Share Posted January 3 3 hours ago, watab kid said: when i was making minimum wage - dark ages , i wasnt buying steak , When I did, it was chuck steak. And for long after minimum wage! Link to comment Share on other sites More sharing options...
watab kid Posted January 3 Share Posted January 3 3 minutes ago, Red Gauntlet , SASS 60619 said: When I did, it was chuck steak. And for long after minimum wage! we dont buy it all that often now at the prices its going for , i do like it from time to time , just find other things more often , Link to comment Share on other sites More sharing options...
Wallaby Jack, SASS #44062 Posted January 3 Share Posted January 3 1 hour ago, Warden Callaway said: In 1970 I could take my new Cutless Supreme, fill with gas, pick up my main squeeze and go to drive in, then stop at A&W to to get root beer, burger and fries. Have pocket change left over. ..... you can still do all that, including the left over pocket change; ....... but you've gotta start with $500.00 $750.99 ........ Link to comment Share on other sites More sharing options...
Wallaby Jack, SASS #44062 Posted January 3 Share Posted January 3 ........ and it's gotta be a SMALL root beer ......... Link to comment Share on other sites More sharing options...
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