Tuesday, April 21, 2015
Think About It
In 1972 the Federal Minimum Wage was $1.60. Today it is $7.25
This is a screenshot of a scientific calculator app I just downloaded to my smartphone. It has many more functions than the calculator pictured below. And it was FREE.
This is the Hewlett-Packard HP-35 scientific calculator. It was first introduced in 1972 and priced at $395. And if you were working a full time minimum wage job back then and you saved every penny of your after taxes income it would have taken you about two months wages to buy this calculator.
Today, if this were "new" technology and factoring in inflation, this calculator would be priced at $2,220. And if you worked a full time minimum wage job and you saved every penny of your after taxes income it would take you about three months wages to buy this calculator.