Quote:
Originally Posted by blankall
I'm sorry, there is no way that the lowest salaries have only gone up by 5% over 25 years. Minimum wage has gone up way more than 5%. Tradesmen, waitresses, unskilled labourers all earn considerably more. There's a reason it costs many times more to get a dent in my car repaired now than it did 25 years ago.
Someone is playing with the stats here.
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Again, I suspect it has been some real vs nomical trickery here.
The CPI 25 years ago was 65.6 (100 at 2002), today's being about 115. If we take these points into account, money has gone up 75.3% since. Include the 5% gain and what it stands to reason is that for every 1 dollar earned in 1986, 1.84 dollars are being earned today, but the average low earner can only purchase 5% more today than they did in 1986 (aka the notion that, if our dollar hadn't inflated, they would only be earning 1.05 per 1 dollar in 1986).