Loading ...Roger all that. My view re the worst thing that happened to the working class, and social security people, was failure for Gov’t to report accurate CPI numbers, for food, fuel, and shelter, and failure to maintain the purchasing power of the minimum wage.
1967 Min Wage $1.40/hr new loaded Corvette $4,500 = 3,214 hours pay needed.
2017 Min Wage $11/hr new loaded Corvette $86,000 = 7,819 hours pay needed.
3,214 hours needed versus 7,819 hours = 143% more hrs needed.
Or, $11/hr + 143% = $26.75/hr needed for a minimum today equal to 1967.
Story last night on Strange Inheritance a Vietnam veteran ordered a new Vette just before he was discharged, to get it as soon as he gets back home. Used his saved of combat pay.
My friend Geno bought a new big block 1967 Corvette, $4,508. Just a regular factory worker, making precision sheet metal parts. No union either. Air Duct sheet metal workers, real estate related, unionized, made a LOT more money.