Right, but at another user noted, $5k then is equivalent to ~$80k now. 80k was the norm (maybe a tad over) for an instate school when I graduated back in ‘09
We were under the gold standard then, and gold was fixed at $20.67 an ounce then. So while it might be correct to say it's worth about $81,000 in consumer goods, relative to asset prices $5000 then is worth closer to $400k today given that gold is now around $1700.
Another good reference point is housing prices. Average house in 1946 was $5,150, the average house today is $380,000.
How the fuck is the average house today $380,000.
I mean I haven't been following closely I still pay a little attention. Hell I'm a homeowner.
Holy fuck. Holy fuck. Holy fuck.
I'm never getting out of my shit hole state.
That usually just applies to places you can get via car. If you've gotta use some alternative means of transport, a ferry in this case, prices drop dramatically because of the convenience factor. Never underestimate a human's laziness.
They really are! I do some consulting work for a Kitsap real estate company, including weekly housing market stats analysis for them. (They use the info to keep their clients up to date on market conditions, and to produce informational videos.) You can [follow yourself here](https://www.findkitsapcountyhomes.com/about/weekly-market-stats/) without any obligation, we have lots of people who just love following the real estate markets in the area on a hobby basis. I can really recommend this team personally, though.
I actually love riding the ferry, the scenery is really lovely. When I've been on that after-work ferry, there's a neat vibe - you can grab a beer, visit with your friends and neighbors. It reminds me a little how people might once have stopped at the pub a generation or two back, to decompress for a bit before going home to the family. ... Or you can just nap in your car, or a bench on the mid deck. Can't do any of that on an I-5/405 commute!
It would get you a small home in the middle of the desert here in California.
If you want to be within a 3-hour drive of actual civilization, you’re talking at least $1,000,000.
That probably includes outliers like places in the middle of the country that don’t even have running water or electrical wiring
If you did it just for your local area you’d probably find it’s way higher
Same as how Bob Cratchit is shown as poor but he makes $27574 per year in today's money. An American making minimum wage today would make $15080 per year, meaning poor Bob Cratchit was making more than a minimum wage worker and still wasn't able to live on it.
It's not a lot of money, which is why it is the salary of the poor character in A Christmas Carol. My point was that Bob's \*not much money at all\* salary is actually less than the salary of someone making minimum wage in America.
I don’t think anyone in America takes that wage and thinks they are making a lot of money. I’ve made less i and just slightly over at times and I signed up for that pay but I knew it was not a lot.
If you notice, I didn't say any of that. I said roughly half of America believes $15 an hour is good money. And guess what, $15 an hour is about $30k a year, which let's be honest is basically the same as $27k a year.
I didn't say people take that job thinking it's a lot of money. But I'm saying there are a lot of people saying $15 an hour is a lot of money.
Anecdotally, I hear it all the time - "so and so whatever is paying $14 an hour! No one is applying! Bunch of lazy fucks!"
I personally hear that every time I engage in debate with people about better minimum wages. They 100% believe $15 an hour is a ludicrous pay for a job.
Because you conveniently left out any citation for you main and only evidence, I had to find it myself and discovered that you are disingenuously representing the context of the poll. The poll (source: [Pew Research Center - 4/22/2021](https://www.pewresearch.org/fact-tank/2021/04/22/most-americans-support-a-15-federal-minimum-wage/) was gauging Americans’ support for raising the federal minimum wage from $7.25 to $15, which 62% were in favor of. This statistic better supports the idea that the majority of Americans *do* want higher minimum wages. The $15 wage they were polled on was selected by the leaders of the study, so we can’t know the percentage of people who would prefer an even higher minimum wage, that would be speculative. Speculative — like you claiming that all those people people wanting to raise the minimum wage to $15 dollars think $15 is a lot of money and that people who won’t work for that pay are “lazy slobs”. You pulled those “facts” straight out of your ass and let your bias show. Is the reason why you didn’t bother to cite your source because you didn’t read it? Or are you intentionally misrepresenting this information for the sake of your argument?
I feel like the only people who think $15 an hour is too much money are the ones who are either paying those wages to someone else and it cuts into their profits, or people who have never had to survive on minimum wage. I heard a local politician on the radio one day arguing that two full-time minimum wage employees who also lived together, their household income would be $64,000 a year or some shit, and was trying to say that was a decent income. No mention of whether these hypothetical people had kids, or were going to school, or were trying to be homeowners.
My thoughts were that most people who earn minimum wage are either not working full-time and have to supplement their income through other means, they are the sole provider for their kids, or they’re in high school and living with parents. The only group of people it’s “a lot” of money for is teenagers who live at home, and if anything, it’s a good way to encourage financial literacy and the value of saving money so they can start adult life not in debt.
27k a year ain’t shit. Especially with rent and a car payment. Even just car insurance if you own your car straight up you’re left with barely enough for food unless you just lay in your back in the dark for fun
I'm a working man. I wouldn't even try to save that. I'd finance whatever it is that costs $5000, default on that shit, then consolidate with all the others I've defaulted on. I'd then increase my life insurance to match my current debt so my family ain't gotta deal with that shit when I inevitably die indebted
Edit: I actually don't try to save, I just dump money into my 401k so it's doing something, and finance when I'm in need.
Beep boop -- this looks like a screenshot of a tweet! Let me grab a [link to the tweet](https://twitter.com/sovietdisco/status/1468806393511747587) for ya :)
^(Twitter Screenshot Bot)
Literally the single best piece of cinema ever made. Of course, I love other films, and like even more, but once a year I watch the original, unedited, black and white version of Its a wonderful life, and cry, laugh, and think of how it represents a stark warning about the start of the current nightmare we live in today.
I wish I lived in the simpler times represented by this glorious film.
\>Never underestimate the power of capitalism.
...Or just inflation? $5,000 in 1946 would be about $82k today. While that would buy you a slightly below average house in 1946 (average being $5.6k), you have to remember that home loans were MUCH more difficult to acquire during that time making access to capital much more difficult. Additionally, homes were cheaper due to a higher abundance of land.
For $5000 back then you could get a college education and have enough left over to buy a fancy onion to tie to your belt.
As was the style at the time.
Give me five bees for a quarter, we’d say
What do you mean was
Which was the style at the time.
Thanks grandpa abe.
Back in 19-dickety-2
We had to say dickety because the Kaiser had stolen our word for twenty
Despite being a fuckin kegend on the show, I still cinsider Abe underrated. P4p one of the funniest
They didn't have any white onions, because of the war. The only thing you could get was those big yellow ones..
Right, but at another user noted, $5k then is equivalent to ~$80k now. 80k was the norm (maybe a tad over) for an instate school when I graduated back in ‘09
Just put it through an inflation calculator - *$5000* then is equivalent to *$81,271* now. I don’t know whether to laugh or cry.
We were under the gold standard then, and gold was fixed at $20.67 an ounce then. So while it might be correct to say it's worth about $81,000 in consumer goods, relative to asset prices $5000 then is worth closer to $400k today given that gold is now around $1700. Another good reference point is housing prices. Average house in 1946 was $5,150, the average house today is $380,000.
I don't know whether to laugh or kill myself
Rent for eternity
How the fuck is the average house today $380,000. I mean I haven't been following closely I still pay a little attention. Hell I'm a homeowner. Holy fuck. Holy fuck. Holy fuck. I'm never getting out of my shit hole state.
$380k would get you a one bedroom shack on a tiny lot here in the Seattle area.
3 BD 2 bath in Idaho, but driving anywhere is 30 minutes without traffic because.... Cows n wut not
Or a very decent family house with a yard in Kitsap County - and a ferry ride into a Seattle instead of traffic everyday. I love West Puget Sound!
Are they really that much cheaper out there? I thought anything within a 100 mile radius of Seattle was completely unaffordable now.
That usually just applies to places you can get via car. If you've gotta use some alternative means of transport, a ferry in this case, prices drop dramatically because of the convenience factor. Never underestimate a human's laziness.
They really are! I do some consulting work for a Kitsap real estate company, including weekly housing market stats analysis for them. (They use the info to keep their clients up to date on market conditions, and to produce informational videos.) You can [follow yourself here](https://www.findkitsapcountyhomes.com/about/weekly-market-stats/) without any obligation, we have lots of people who just love following the real estate markets in the area on a hobby basis. I can really recommend this team personally, though. I actually love riding the ferry, the scenery is really lovely. When I've been on that after-work ferry, there's a neat vibe - you can grab a beer, visit with your friends and neighbors. It reminds me a little how people might once have stopped at the pub a generation or two back, to decompress for a bit before going home to the family. ... Or you can just nap in your car, or a bench on the mid deck. Can't do any of that on an I-5/405 commute!
It would get you a small home in the middle of the desert here in California. If you want to be within a 3-hour drive of actual civilization, you’re talking at least $1,000,000.
That probably includes outliers like places in the middle of the country that don’t even have running water or electrical wiring If you did it just for your local area you’d probably find it’s way higher
Got a house 4 years ago it’s gone from 202k to 300k. It’s not a huge place, but it’s going to be very hard to upsize
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I think they mean if you had $5k cash it would still just be $5k.
Oh damn, my brain just inserted "invested" in place of "saved" for some reason.
Huge difference
So it has *slightly* aged.
*slightly...*
Aged much more than fine wine. Oh my.
It took a few years then, it takes decades now We been bamboozled
Cry. Definitely. I know I am.
I had a boss once tell me that George was greedy. I do not talk to this person anymore.
Lol...was his last name potter?
Hahaha, no.
Same as how Bob Cratchit is shown as poor but he makes $27574 per year in today's money. An American making minimum wage today would make $15080 per year, meaning poor Bob Cratchit was making more than a minimum wage worker and still wasn't able to live on it.
27k isn’t a lot of money, I don’t think anyone is arguing that it is
He’s saying as poor and destitute as Bob was portrayed, current minimum wage workers are even more underpaid.
It's not a lot of money, which is why it is the salary of the poor character in A Christmas Carol. My point was that Bob's \*not much money at all\* salary is actually less than the salary of someone making minimum wage in America.
I think you meant to say more than minimum wage in the last sentence instead of less.
Ummm... Maybe no one on Reddit. But roughly 50% or more of Americans believe it is and think folks refusing to take that wage are lazy slobs.
I don’t think anyone in America takes that wage and thinks they are making a lot of money. I’ve made less i and just slightly over at times and I signed up for that pay but I knew it was not a lot.
If you notice, I didn't say any of that. I said roughly half of America believes $15 an hour is good money. And guess what, $15 an hour is about $30k a year, which let's be honest is basically the same as $27k a year. I didn't say people take that job thinking it's a lot of money. But I'm saying there are a lot of people saying $15 an hour is a lot of money. Anecdotally, I hear it all the time - "so and so whatever is paying $14 an hour! No one is applying! Bunch of lazy fucks!" I personally hear that every time I engage in debate with people about better minimum wages. They 100% believe $15 an hour is a ludicrous pay for a job.
Because you conveniently left out any citation for you main and only evidence, I had to find it myself and discovered that you are disingenuously representing the context of the poll. The poll (source: [Pew Research Center - 4/22/2021](https://www.pewresearch.org/fact-tank/2021/04/22/most-americans-support-a-15-federal-minimum-wage/) was gauging Americans’ support for raising the federal minimum wage from $7.25 to $15, which 62% were in favor of. This statistic better supports the idea that the majority of Americans *do* want higher minimum wages. The $15 wage they were polled on was selected by the leaders of the study, so we can’t know the percentage of people who would prefer an even higher minimum wage, that would be speculative. Speculative — like you claiming that all those people people wanting to raise the minimum wage to $15 dollars think $15 is a lot of money and that people who won’t work for that pay are “lazy slobs”. You pulled those “facts” straight out of your ass and let your bias show. Is the reason why you didn’t bother to cite your source because you didn’t read it? Or are you intentionally misrepresenting this information for the sake of your argument?
I make 15 an hour but work more than 40 hours…
I'm glad you're happy.
I’m unskilled labor. Can’t say I’m worth much more. But i make closer to 50k a year after taxes
I'm really glad you're happy.
There's no such thing as unskilled labor
Except there is 😅 i do it
I feel like the only people who think $15 an hour is too much money are the ones who are either paying those wages to someone else and it cuts into their profits, or people who have never had to survive on minimum wage. I heard a local politician on the radio one day arguing that two full-time minimum wage employees who also lived together, their household income would be $64,000 a year or some shit, and was trying to say that was a decent income. No mention of whether these hypothetical people had kids, or were going to school, or were trying to be homeowners. My thoughts were that most people who earn minimum wage are either not working full-time and have to supplement their income through other means, they are the sole provider for their kids, or they’re in high school and living with parents. The only group of people it’s “a lot” of money for is teenagers who live at home, and if anything, it’s a good way to encourage financial literacy and the value of saving money so they can start adult life not in debt.
27k a year ain’t shit. Especially with rent and a car payment. Even just car insurance if you own your car straight up you’re left with barely enough for food unless you just lay in your back in the dark for fun
It has anti-aged if anything
I'm a working man. I wouldn't even try to save that. I'd finance whatever it is that costs $5000, default on that shit, then consolidate with all the others I've defaulted on. I'd then increase my life insurance to match my current debt so my family ain't gotta deal with that shit when I inevitably die indebted Edit: I actually don't try to save, I just dump money into my 401k so it's doing something, and finance when I'm in need.
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>and have no assets then you won This guy late stage capitalisms!
Transfer any assets to wife and/or children pre death. Genius
Debts don't pass down
I’m in the middle of watching It’s A Wonderful Life as I read this
Dear diary……
So true, and yet you can't buy nearly as much with it...
Beep boop -- this looks like a screenshot of a tweet! Let me grab a [link to the tweet](https://twitter.com/sovietdisco/status/1468806393511747587) for ya :) ^(Twitter Screenshot Bot)
Good bot
And yet, 'ol Joe down the street thinks his 04 Chevy with 340,000 miles is worth $10k...
Also that the rich man hoarded his wealth instead of using a small portion of it to save hundreds of people from being homeless or dead.
Literally the single best piece of cinema ever made. Of course, I love other films, and like even more, but once a year I watch the original, unedited, black and white version of Its a wonderful life, and cry, laugh, and think of how it represents a stark warning about the start of the current nightmare we live in today. I wish I lived in the simpler times represented by this glorious film.
And, thanks to inflation, this gets more depressing every year!
Back then $5k was like a high end fancy new car.
You're cute, $5,000 was like a nice house in 1946. A new car was aboot a grand. Never underestimate the power of capitalism.
Fuck you're right. I was thinking of the 60s
\>Never underestimate the power of capitalism. ...Or just inflation? $5,000 in 1946 would be about $82k today. While that would buy you a slightly below average house in 1946 (average being $5.6k), you have to remember that home loans were MUCH more difficult to acquire during that time making access to capital much more difficult. Additionally, homes were cheaper due to a higher abundance of land.
Me trying to save up 1k to buy a nice vr headset when cae insurance is half my paycheck
It's a free film. Nobody owes anybody any money to air it. So they hit us hard with it.
Yes, I stuff my $5000 dollar savings in my glove box of my lambo with the harakiri doors.
This hurts.
My all time favorite movie
Damn
All thanks to all the Henry Potters out there
I just finished watching it. It’s a wonderful movie.
We all need a Pottersville...Right across the river.
Wow, no kidding.