In a inter generational discussion over work ethic and ability to pay bills, one of the savviest of the younger crowd pulled out their phone with this income calculator on it.

Essentially you can plug a number into a year, and see what it’s equivalent based solely on inflation, would be today…

My estimates were way off.. How close are yours?

This was brought on by older generational attendees bragging how little they made “when they were young” and how they managed to put everything together with what little they had.

The CPI calculator  quickly showed them up….

Old Fart:  My first regular job paid me $229 a week and I lived well off of that… Someone working minimum wage today at $8.25 pulls in $330 a week.  What is so hard about that… Bread was a dollar then, and at ShopRite, it’s still a dollar now…

Bright youngster:  What year was that?

Old Fart:  1980

Bright youngster pulling out his CPI calculator on his iphone.  “That would be equivalent to $659 now… just based on inflation alone.  I could live on $659 a week. That would give me $1200 a month more than I make now working 40+ hours.”…

Bright youngster:  How much was your rent back then?

Old Fart:  $189 a month….

Bright youngster, OK, that would be the same as … $543 a month today.. I’d love to find a place to live that charged anything less than $700. And most places at $700, I wouldn’t want to live in.

Bright youngster... How much was a 6 pack back then?

Old Fart:  We could get Bud and Coors for around $3.30 a six pack.

Bright youngster:  That would be $9.49 today… At least some important things are better now than back in 1980..

Bright youngster... Do you know how long ago 1980 was?  That was 4 years before it was cool to go “Back to the Future“… We now live in a world older than that future….  Maybe it’s time to let us younger people run things…

(Minimum wage in 1980 was $3.10.  By the calculator, that would be $8.97 now… … So per hour, how much more than minimum wage are you worth?  Shouldn’t you be worth more? ) For the record, a current bill in the senate would by 2020 put Delawareans on minimum wage at $10.25 which would be 52 cents below the CPI Calculator’s total of $10.77 consistent with this post’s 1980 dollars…

 

 

 

 

 

 

Advertisements