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TastyBullfrog2755 t1_j3ny3j8 wrote

Reply to comment by LongWalk86 in TIL that in 1947, U.S. House Minority Leader Sam Rayburn was gifted a 1947 Cadillac Fleetwood Series 62 from 142 Democratic congressmembers and 50 Republican congressmembers. Each congressmen donated $25 to circumvent Rayburns personal rule of not accepting gifts more than $25. by FranklinDRoosevelt32

A quarter of his salary? What was Joe Taxpayer making?

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LongWalk86 t1_j3o0y8w wrote

A quarter of your yearly salary on a car is not that unrealistic. Most people making under 100k a year will still buy a car worth more than 25k.

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ShuRugal t1_j3o7bda wrote

not in 1947. The words "Car loan" would have got you laughed out of the bank in that era. After the market crash and banking collapse of the Great Depression, consumer loans of any kind just weren't a thing. The idea of a "car loan" as we know it today didn't take off again until the mid 60s.

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