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submitted 4 days ago by [email protected] to c/[email protected]
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[-] [email protected] 4 points 3 days ago

Meanwhile the same job 70 years ago paid the equivalent of $34 plus benefits

[-] [email protected] 1 points 3 days ago

The minimum wage in the US has never been higher than about $12 in today's dollars.

[-] [email protected] 1 points 3 days ago

And the workers weren’t all paid minimum wages at the time.

[-] [email protected] 0 points 3 days ago

you could go to college on a part time job and have no debt.

[-] [email protected] 2 points 3 days ago* (last edited 3 days ago)

Also no health insurance, no IRA, eat only rice and beans/ramen, live in a small studio with a roommate, can't afford anything new and salvaging from flea markets and thrift stores... And the college is community college with lots of grants from the government.

So you're saying live extremely frugal and struggling?

[-] [email protected] 1 points 3 days ago

That had nothing to do with the minimum wage (which has been lower than $15 of today's dollars since inception), but because of how much cheaper college was back then.

[-] [email protected] 1 points 3 days ago

"Its not about pay, its just about how more affordable things were for the pay you earned back then!"

[-] [email protected] 0 points 3 days ago

College tuition has massively outpaced inflation, much less wage growth.

The policies (chiefly the change that made student loans no longer dischargeable in bankruptcy) that rocketed college tuition up are a MUCH more significant factor in college affordability, that's just a fact.

[-] [email protected] 1 points 2 days ago

When everything outpaces inflation, maybe we compute inflation wrong.

this post was submitted on 23 Sep 2024
1509 points (98.3% liked)

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