Min Wage versus Cost of Living 1970 to 2018

[Daryl Hunt]

Here is what Inflation looks like when the Rich takes advantage of the Averate and below income levels Cost of Living.

milk at the dairy
1970 1.32
2018 2.90
Milk has not kept up with inflation. Even before the unfair Canadian trade Practice, Protectionism, etc. and Tariffs on US Milk, there was the introduction of the Milk Alterntives made from Grains and such. Unlike other Farming, Dairy Farmers can't rotate their products. They either operate at a loss, make money or get out of business. Trump has promised that due to the Tariffs that the Dairy Farmers will receive relief but the Diary Farmers don't want it. They claim that it will mostly go to larger Corporate Dairy Farms that are already Profitable even with all the negatives because they control most of the market. The smaller Diary Farmers will only be buying time until they go out of business. What they want is an even playing field. Nothing else will keep them in business. Next year look for Diary Farm Foreclosure Auctions to happen at an alarming rate even with the relief.
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Loaf of Bread
1970 25 cents
2018 2.38
The US is the Worlds #1 Wheat and Grain producer in the World. We have Silos with it sitting rotting away. That's over a 952% increase in cost. Well behind the wage increase.
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Average Wage
1970 9,400
2018 44,321
That's over a 400% increase.
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Cost per Lb of Hamburger
1970 70 cents
2018 4.68
Hamburger, like other cuts of meat, is over 660% higher today than in 1970. It has lost ground to wages. Overall, with the exception to milk, food has lost between 200 and 1000% to average wages. And that is considering Average Wage, not minimum wage. Minimum Wage is much, much worse.
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Cost of a new Home
1970 23,450
2018 325,500
So you want to buy a home? Good luck on the average wage with a family of 4. You really want me to do the percent comparison on this one? There is a reason that the younger people are, for the most part, electing to rent rather than buy. For the most part, the younger people make less than the average wage and after the other costs of living, can't afford the payments, insurance and taxes on a new house or even an older house.
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Some People are getting bloody rich on these deals. And it's not the average or below average consumer. Certainly not the min wage or even the average wage earner.

Over half of the Uber Rich supports the increasing of the Min Wage. They give the reason that it gives the poor (min wage) more portable income. There fore more money to spend on their products and services. But that's not all. It also means that the Rich can and will raise those services and products to take away any and all the gains that min wage gave to the worker while expecing the new min wage worker to do more purchasing of their goods and products. It's a very lucrative, short termed program. But in the end, the workers all lose ground exactly as I showed above. But the Rich just got richer.

I am against Min Wage for this reason. We don't need a Min Wage. We need a Living Wage. At the same time, we need a Consumer Group that has the power to drag these unscrupulous theives into civil courts and get them fined for unfair trade practice.

 

[Silver Blooded]

That's because the value of our DOLLAR has changed stupid. Jesus Christ you people are fucking stupid.

 

[Oddball]

Central price controls of anything is an idiotic idea...Up to and including wages.

 

[progressive hunter]

sorry I'm not a communist, so I wont even consider voting in your communist poll


you dont like a free country then get the hell out,,there are several countries that would love to have you,,,

 

[Mike Dwight]

Ya is there anything as horrible for accountants as these free-flowing confidence-based currencies since I think the 60's and they're not based on gold in Fort Knox? I bet most currencies are like this. It wouldn't matter if accountants measured in any of the others. Resources should be measured in gold though, some limited resource that serves as a Unit.

 

[Defiant1]

Here is what Inflation looks like when the Rich takes advantage of the Averate and below income levels Cost of Living.

milk at the dairy
1970 1.32
2018 2.90
Milk has not kept up with inflation. Even before the unfair Canadian trade Practice, Protectionism, etc. and Tariffs on US Milk, there was the introduction of the Milk Alterntives made from Grains and such. Unlike other Farming, Dairy Farmers can't rotate their products. They either operate at a loss, make money or get out of business. Trump has promised that due to the Tariffs that the Dairy Farmers will receive relief but the Diary Farmers don't want it. They claim that it will mostly go to larger Corporate Dairy Farms that are already Profitable even with all the negatives because they control most of the market. The smaller Diary Farmers will only be buying time until they go out of business. What they want is an even playing field. Nothing else will keep them in business. Next year look for Diary Farm Foreclosure Auctions to happen at an alarming rate even with the relief.
------------------------------------------------------------------------------------------------------
Loaf of Bread
1970 25 cents
2018 2.38
The US is the Worlds #1 Wheat and Grain producer in the World. We have Silos with it sitting rotting away. That's over a 952% increase in cost. Well behind the wage increase.
--------------------------------------------------------------------------------------------------------
Average Wage
1970 9,400
2018 44,321
That's over a 400% increase.
-------------------------------------------------------------------------------------------------
Cost per Lb of Hamburger
1970 70 cents
2018 4.68
Hamburger, like other cuts of meat, is over 660% higher today than in 1970. It has lost ground to wages. Overall, with the exception to milk, food has lost between 200 and 1000% to average wages. And that is considering Average Wage, not minimum wage. Minimum Wage is much, much worse.
---------------------------------------------------------------------------------------------------
Cost of a new Home
1970 23,450
2018 325,500
So you want to buy a home? Good luck on the average wage with a family of 4. You really want me to do the percent comparison on this one? There is a reason that the younger people are, for the most part, electing to rent rather than buy. For the most part, the younger people make less than the average wage and after the other costs of living, can't afford the payments, insurance and taxes on a new house or even an older house.
--------------------------------------------------------------------------------------------------
Some People are getting bloody rich on these deals. And it's not the average or below average consumer. Certainly not the min wage or even the average wage earner.

Over half of the Uber Rich supports the increasing of the Min Wage. They give the reason that it gives the poor (min wage) more portable income. There fore more money to spend on their products and services. But that's not all. It also means that the Rich can and will raise those services and products to take away any and all the gains that min wage gave to the worker while expecing the new min wage worker to do more purchasing of their goods and products. It's a very lucrative, short termed program. But in the end, the workers all lose ground exactly as I showed above. But the Rich just got richer.

I am against Min Wage for this reason. We don't need a Min Wage. We need a Living Wage. At the same time, we need a Consumer Group that has the power to drag these unscrupulous theives into civil courts and get them fined for unfair trade practice.

If people couldn't afford to buy things, everyone would go out of business.
Businesses do not survive by only selling to the rich.

Why do I have to wait for a table at a restaurant?

 

[Mike Dwight]

I don't know, man. Wages definitely Did Not keep up with inflation. Somebody didn't spell that out. Wages down.

 

[Oddball]

I don't know, man. Wages definitely Did Not keep up with inflation. Somebody didn't spell that out. Wages down.

Value for the dollar of products went up....For example, $500 for a flat screen teevee in today's USDs is a ridiculously low price, considering what a cathode ray tube set cost in 1965.

 

[Muhammed]

milk at the dairy
1970 1.32
2018 2.90

1.69 at Kroger.

 

[Supposn]

Here is what Inflation looks like when the Rich takes advantage of the Average and below income levels Cost of Living. ...We don't need a Min Wage. We need a Living Wage. ...

Federal minimum wage rate.
Daryl Hunt, I'm a proponent of the federal minimum wage be increased12.5% annually until it achieves no less than 125% of its February-1968 cost price indexed value. Thereafter the monitored minimum rate should annually (when necessary), be modified to retain that purchasing power.

There's no point in a discussion of a federal living wage until we have achieved a federal minimum wage rate that retains sufficient purchasing power.
Respectfully, Supposn

 

[progressive hunter]

Here is what Inflation looks like when the Rich takes advantage of the Average and below income levels Cost of Living. ...We don't need a Min Wage. We need a Living Wage. ...

Federal minimum wage rate.
Daryl Hunt, I'm a proponent of the federal minimum wage be increased12.5% annually until it achieves no less than 125% of its February-1968 cost price indexed value. Thereafter the monitored minimum rate should annually (when necessary), be modified to retain that purchasing power.

There's no point in a discussion of a federal living wage until we have achieved a federal minimum wage rate that retains sufficient purchasing power.
Respectfully, Supposn

so youre a communist too,,,

 

[Daryl Hunt]

Here is what Inflation looks like when the Rich takes advantage of the Average and below income levels Cost of Living. ...We don't need a Min Wage. We need a Living Wage. ...

Federal minimum wage rate.
Daryl Hunt, I'm a proponent of the federal minimum wage be increased12.5% annually until it achieves no less than 125% of its February-1968 cost price indexed value. Thereafter the monitored minimum rate should annually (when necessary), be modified to retain that purchasing power.

There's no point in a discussion of a federal living wage until we have achieved a federal minimum wage rate that retains sufficient purchasing power.
Respectfully, Supposn

The problem is, the Cost of Living will go up at an even higher rate as well. You raise the wages 12.5% and the COL goes up 12.7. The Rich just got Richer.

 

[progressive hunter]

Here is what Inflation looks like when the Rich takes advantage of the Average and below income levels Cost of Living. ...We don't need a Min Wage. We need a Living Wage. ...

Federal minimum wage rate.
Daryl Hunt, I'm a proponent of the federal minimum wage be increased12.5% annually until it achieves no less than 125% of its February-1968 cost price indexed value. Thereafter the monitored minimum rate should annually (when necessary), be modified to retain that purchasing power.

There's no point in a discussion of a federal living wage until we have achieved a federal minimum wage rate that retains sufficient purchasing power.
Respectfully, Supposn

The problem is, the Cost of Living will go up at an even higher rate as well. You raise the wages 12.5% and the COL goes up 12.7. The Rich just got Richer.

just goes to show communism always fails,,,

 

[Crepitus]

Central price controls of anything is an idiotic idea...Up to and including wages.

Not price control, profit control.

 

[Oddball]

Central price controls of anything is an idiotic idea...Up to and including wages.

Not price control, profit control.

Central planning is for commies.

 

[Daryl Hunt]

Central price controls of anything is an idiotic idea...Up to and including wages.

Not price control, profit control.

Central planning is for commies.

Depression/recession is for out of control Capitalism. We are headed that direction now. Same mistakes are being made that were made in the last half of the 1920s which brings the same results.

 

[Oddball]

Central price controls of anything is an idiotic idea...Up to and including wages.

Not price control, profit control.

Central planning is for commies.

Depression/recession is for out of control Capitalism. We are headed that direction now. Same mistakes are being made that were made in the last half of the 1920s which brings the same results.

Thanks, tovarich.

You did know that there was a steep depression after WWI, right?....I'm guessing that you didn't.

Harding and Coolidge drastically cut gubmint spending, which led to the "roaring 20s".

Your lack of knowledge of economics is only exceeded by your lack of knowledge of history.

 

[Wyatt earp]

Here is what Inflation looks like when the Rich takes advantage of the Averate and below income levels Cost of Living.

milk at the dairy
1970 1.32
2018 2.90
Milk has not kept up with inflation. Even before the unfair Canadian trade Practice, Protectionism, etc. and Tariffs on US Milk, there was the introduction of the Milk Alterntives made from Grains and such. Unlike other Farming, Dairy Farmers can't rotate their products. They either operate at a loss, make money or get out of business. Trump has promised that due to the Tariffs that the Dairy Farmers will receive relief but the Diary Farmers don't want it. They claim that it will mostly go to larger Corporate Dairy Farms that are already Profitable even with all the negatives because they control most of the market. The smaller Diary Farmers will only be buying time until they go out of business. What they want is an even playing field. Nothing else will keep them in business. Next year look for Diary Farm Foreclosure Auctions to happen at an alarming rate even with the relief.
------------------------------------------------------------------------------------------------------
Loaf of Bread
1970 25 cents
2018 2.38
The US is the Worlds #1 Wheat and Grain producer in the World. We have Silos with it sitting rotting away. That's over a 952% increase in cost. Well behind the wage increase.
--------------------------------------------------------------------------------------------------------
Average Wage
1970 9,400
2018 44,321
That's over a 400% increase.
-------------------------------------------------------------------------------------------------
Cost per Lb of Hamburger
1970 70 cents
2018 4.68
Hamburger, like other cuts of meat, is over 660% higher today than in 1970. It has lost ground to wages. Overall, with the exception to milk, food has lost between 200 and 1000% to average wages. And that is considering Average Wage, not minimum wage. Minimum Wage is much, much worse.
---------------------------------------------------------------------------------------------------
Cost of a new Home
1970 23,450
2018 325,500
So you want to buy a home? Good luck on the average wage with a family of 4. You really want me to do the percent comparison on this one? There is a reason that the younger people are, for the most part, electing to rent rather than buy. For the most part, the younger people make less than the average wage and after the other costs of living, can't afford the payments, insurance and taxes on a new house or even an older house.
--------------------------------------------------------------------------------------------------
Some People are getting bloody rich on these deals. And it's not the average or below average consumer. Certainly not the min wage or even the average wage earner.

Over half of the Uber Rich supports the increasing of the Min Wage. They give the reason that it gives the poor (min wage) more portable income. There fore more money to spend on their products and services. But that's not all. It also means that the Rich can and will raise those services and products to take away any and all the gains that min wage gave to the worker while expecing the new min wage worker to do more purchasing of their goods and products. It's a very lucrative, short termed program. But in the end, the workers all lose ground exactly as I showed above. But the Rich just got richer.

I am against Min Wage for this reason. We don't need a Min Wage. We need a Living Wage. At the same time, we need a Consumer Group that has the power to drag these unscrupulous theives into civil courts and get them fined for unfair trade practice.

Who is going to pay your living wage when everything closes up, the government?

 

[Supposn]

The problem is, the Cost of Living will go up at an even higher rate as well. You raise the wages 12.5% and the COL goes up 12.7. The Rich just got Richer.

Daryl Hunt, direct and indirect labor costs are not the same proportion of all products' costs; The hourly rates of those labor costs vary, and the effect of the minimum wage varies for each different hourly rate. These are the reasons why the federal minimum wage rate is not among the major factors driving the U.S. Dollar's rate of inflation.

The federal reserve board controls our money supply and they are charged with what many people believe is the impossible task of regulating the U.S. Dollar's value. I appreciate that the Federal Reserve Board has demonstrated extreme competence because they've never entirely crashed our economy.

If the minimum wage rate is increased by 12.5% per year, the entire price increases are not attributable to the rate increase. Despite the Federal Reserve Board's efforts, prices continue to annually rise when the minimum wage rate has not been increased. A forewarned 12.5% increase of the minimum wage rate would not increase prices 2%.



Respectfully, Supposn

 

[Wyatt earp]

Here is what Inflation looks like when the Rich takes advantage of the Average and below income levels Cost of Living. ...We don't need a Min Wage. We need a Living Wage. ...

Federal minimum wage rate.
Daryl Hunt, I'm a proponent of the federal minimum wage be increased12.5% annually until it achieves no less than 125% of its February-1968 cost price indexed value. Thereafter the monitored minimum rate should annually (when necessary), be modified to retain that purchasing power.

There's no point in a discussion of a federal living wage until we have achieved a federal minimum wage rate that retains sufficient purchasing power.
Respectfully, Supposn

The problem is, the Cost of Living will go up at an even higher rate as well. You raise the wages 12.5% and the COL goes up 12.7. The Rich just got Richer.

Once again you say that as your city clerk drives by in a Porsche

What is wrong with you, don't you ever travel the 50 states and comprehend the difference in price from blue cities to red States?


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