5000 in 1970

[8537]

Proof? Nah, you don't have any proof. Just letting your ass talk again.

"All wages have lagged inflation so no one is making the same amount inflation adjusted".

Read that again and think about what you just said. Then ask yourself: Has real GDP increased since 1970?

Again proving economics is not your strong point. Not your weak point either. Maybe there is another category: black hole, where a person's knowledge base is not only weak but whatever he knows is actually incorrect. You would need to unlearn everything you think you know and re-learn it. Elsewhere.

You're doing a nice job of hiding from the fact that you were wrong. I doubt you're smart enough to see the obvious flaw in your thinking, but I can only lead a poster to water so...

 

[kaz]

Republicans don't want any part of this do they

Yeah, but not for the reason you think

 

[The Rabbi]

"All wages have lagged inflation so no one is making the same amount inflation adjusted".

Read that again and think about what you just said. Then ask yourself: Has real GDP increased since 1970?

Again proving economics is not your strong point. Not your weak point either. Maybe there is another category: black hole, where a person's knowledge base is not only weak but whatever he knows is actually incorrect. You would need to unlearn everything you think you know and re-learn it. Elsewhere.

You're doing a nice job of hiding from the fact that you were wrong. I doubt you're smart enough to see the obvious flaw in your thinking, but I can only lead a poster to water so...

I could not begin to describe what is wrong with your post. It is so full of inaccuracies and misconceptions that I literally do not have the time, nor the resources, to point all of it.
You are a colossal failure.
I'll just post this and you can go disagree with whomever wrote it:
Wages and Benefits: Real Wages (1964-2004) - Working Life

 

[8537]

Again proving economics is not your strong point. Not your weak point either. Maybe there is another category: black hole, where a person's knowledge base is not only weak but whatever he knows is actually incorrect. You would need to unlearn everything you think you know and re-learn it. Elsewhere.

You're doing a nice job of hiding from the fact that you were wrong. I doubt you're smart enough to see the obvious flaw in your thinking, but I can only lead a poster to water so...

I could not begin to describe what is wrong with your post. It is so full of inaccuracies and misconceptions that I literally do not have the time, nor the resources, to point all of it.
You are a colossal failure.
I'll just post this and you can go disagree with whomever wrote it:
Wages and Benefits: Real Wages (1964-2004) - Working Life

Well first of all even if that graph was correct you'd still be wrong. That's average weekly earnings, and says nothing about all people. Let's recall you claim:

all wages have lagged inflation so no one is making the same amount inflation adjusted as they did in the 1970s.

Second, your presuming that snapshot data is equivalent to panel data. While some Americans working in 1970 are making less today than in 1970, the vast majority of Americans working in 1970 who continue to work today are making far more. That's obvious to anyone with a brain.

Third, why are you using average data to claim that all people are making less? It's wrong. Even more wrong than using median data (which at least accounts for some of the problems related to snapshot data). Median data, for what its worth, tells a very different story:

and though I'm certain you're not smart enough to realize it, if real GDP has increased then incomes have increased.

 

[The Rabbi]

So stupid you don't know you're wrong.
I've proven my point. I've supported it with links.
You have proven a point: that you are a complete imbecile. You have supported that with waffling language, inapt comparisons, and economic howlers.

 

[8537]

So stupid you don't know you're wrong.
I've proven my point. I've supported it with links.

You claimed:

all wages have lagged inflation so no one is making the same amount inflation adjusted as they did in the 1970s.

And besides your usual blathering, you've offered zero evidence of such. In fact, if you'd actually read and were able to comprehend you'd realize that real GDP has increased since 1970 (You agree with that, right? Right?). and if Real GDP has increased...and GDP is a measure of income.....

Well, even you can put those pieces together.

Getting your econ education from rightwing radio is no way to go through life.

 

[The Rabbi]

This message is hidden because 8537 is on your ignore list.

Just what I thought: not a worthwhile argument to offer.

 

[8537]

This message is hidden because 8537 is on your ignore list.

Just what I thought: not a worthwhile argument to offer.

Ha! That's an awfully cute way to avoid admitting how dumb your claim was. Let's review for those who have an ounce of econ education:

You claimed:

Quote:
all wages have lagged inflation so no one is making the same amount inflation adjusted as they did in the 1970s.

and I'm waiting for you to explain how that's possible - not only because it's impossible, but also because we've experienced real GDP growth since 1970.

 

[8537]

Where'd Rabbi Go?

 

[boedicca]

I keep hearing about what so many are saying about the wages for teachers and the cost of what it took to educate a student in 1970 vs today.

Ive seen as low as 5000 in 1970 and as high as 10/11000 in 2010 and they say this horrible! Well is it really? Lets take a look.

Current data is only available till 2009. $27600.00 in the year 2009 has the same "purchase power" as $5000 in the year 1970.

The 2009 observation is preliminary and will change.

kind of makes you on the right look stupid doesn't it. the teachers are doing their job of education for 2/5 ths of what it should be for the same job done.

Source note for "Purchasing Power of Money"




Another Computation?


















Citation
Lawrence H. Officer and Samuel H. Williamson, "Purchasing Power of Money in the United States from 1774 to 2010," MeasuringWorth, 2009.


URL: Measuring Worth - Measures of worth, inflation rates, saving calculator, relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average wage

--------------------------------------------------------------------------------

Please let us know if and how this discussion has assisted you in using our calculators.


HOME
ABOUT US
CONTACT US
USER GUIDE
GLOSSARY & FAQ

It's clear you are another failed product of the public education system. The big issue is excessive pensions and health care benefits which are guaranteed for life. The excessive benefits are breaking state and local budgets.

The rest of the education inflation can be attributed to the massive increase in administration and bureaucracy, much of it in response to federal mandates associated with funding.

 

[The Rabbi]

I keep hearing about what so many are saying about the wages for teachers and the cost of what it took to educate a student in 1970 vs today.

Ive seen as low as 5000 in 1970 and as high as 10/11000 in 2010 and they say this horrible! Well is it really? Lets take a look.

Current data is only available till 2009. $27600.00 in the year 2009 has the same "purchase power" as $5000 in the year 1970.

The 2009 observation is preliminary and will change.






Citation
Lawrence H. Officer and Samuel H. Williamson, "Purchasing Power of Money in the United States from 1774 to 2010," MeasuringWorth, 2009.


URL: Measuring Worth - Measures of worth, inflation rates, saving calculator, relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average wage

It's clear you are another failed product of the public education system. The big issue is excessive pensions and health care benefits which are guaranteed for life. The excessive benefits are breaking state and local budgets.

The rest of the education inflation can be attributed to the massive increase in administration and bureaucracy, much of it in response to federal mandates associated with funding.

And as the money spent per pupil increases performance on standardized tests decreases.
But at least the kids feel good about themselves!

 

[Dont Taz Me Bro]

When the argument gets tough, the ignorant get abusive.

Or when the argument gets too stupid for words.