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horridtroglodyte t1_j3mkiw5 wrote

Really puts our current economy into perspective.

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PoopMobile9000 t1_j3mp4w2 wrote

Median household income in 1947 was $3,000.

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[deleted] t1_j3mq9wu wrote

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Relic_001 t1_j3msjs0 wrote

And his limit of 25$ for a gift is equal to 324.25$ now. Pretty expensive personal gifts.

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[deleted] t1_j3mtcur wrote

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LongWalk86 t1_j3nnj6t wrote

$12,500 a year for hose reps, leadership may have got a bit more. But lets not pretend, that just like today, congressmen didn't have lots of other income sources.

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Relic_001 t1_j3n2elt wrote

Still a lot of money, but the divid between the 1% and the average American was quite a bit less back then too.

EDIT assuming a seven year loan, which isn't uncommon and no money down that's a 741$ monthly payment.

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StoneTemplePilates t1_j3rp8wq wrote

$741 is a pretty large car payment even by today's standards. I make double the median income for my state and I would consider that frivolous.

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series_hybrid t1_j3myl61 wrote

Lunch in DC for a congressman, a lobbyist, and each has an assistant.

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brun064 t1_j3o3sfa wrote

And the $25 rule is still in effect for government employees today. The limit has never been adjusted for inflation. So you can try to "bribe" a government employee with a gift...just not one worth very much.

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[deleted] t1_j3mvq2g wrote

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social_media_suxs t1_j3nrg8t wrote

Huge difference though is the 1947 number would have been mostly single income households.

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ShuRugal t1_j3o7wri wrote

I feel like this is a thing which gets overlooked FAR too often with discussion of wages over time.

It used to be that we expected a household to not only survive, but to thrive and flourish on a single income. Now you get looked at like a criminal if you don't have two or three people bringing and income to your house.

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TheLeopardColony t1_j3mq8u6 wrote

Is it supposed to be higher than that now? Asking for a friend.

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Xiaxs t1_j3mu31k wrote

Supposed to, no.

Should be, well that depends on who you ask. . . And how much they make.

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