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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 10:52 AM
Original message
1961-2010
I tried to find a chart that extrapolated annual income to 2010 values, but failed. anyone know where to find one?

I wanted to know what $39,258 in 2011 annual income would equal in 1971 dollars

these from :
http://www.thepeoplehistory.com /
Cost of Living 1961
How Much things cost in 1961
Yearly Inflation Rate USA 1.07%
Yearly Inflation Rate UK 2.9%
Average Cost of new house $12,500.00
Average Income per year $5,315.00
Cost of a gallon of Gas 27 cents
Average Cost of a new car $2,850.00
Bacon for 1LB 67 cents
Eggs per dozen 30 cents
Below are some Prices for UK Pounds Sterling

Average House Price 2,770

--------------------------------------------------------------------------
Cost of Living 1971
How Much things cost in 1971
Yearly Inflation Rate USA 4.3%
Yearly Inflation Rate UK 8.6%
Year End Close Dow Jones Industrial Average 890
Average Cost of new house $25,250.00
Average Income per year $10,600.00
Average Monthly Rent $150.00
Cost of a gallon of Gas 40 cents
Datsun 1200 Sports Coupe $1,866.00
United States postage Stamp 8 cents
Ladies 2 piece knit suites $9.98
Movie Ticket $1.50

---------------------------------------------------------------------------
Cost of Living 1981
How Much things cost in 1981
Yearly Inflation Rate USA10.35%
Year End Close Dow Jones Industrial Average 875
Interest Rates Year End Federal Reserve 15.75%
Average Cost of new house $78,200.00
Average Income per year $21,050.00
Average Monthly Rent $315.00
Cost of a gallon of Gas $1.25
Sinclair ZX80 $199.95
19 inch Color TV $399.95

----------------------------------------------------------------------------------
Cost of Living 1991
How Much things cost in 1991
Yearly Inflation Rate USA4.25%
Year End Close Dow Jones Industrial Average 3168
Interest Rates Year End Federal Reserve 6.50%
Average Cost of new house $120,000.00
Average Income per year $29,430.00
Average Monthly Rent $495.00
Cost of a gallon of Gas $1.12
1 LB of Bacon $1.95
Dozen Eggs 85 cents

------------------------------------------------------
Cost of Living 2001
How Much things cost in 2001
Average Cost of new house $136,150.00
Average Median Income $42,350.00
Average Monthly Rent $715.00
Cost of a gallon of Gas $1.46
Average cost of new car $25,850.00
US Postage Stamp 34 cents
1 LB of Bacon $3.22
Ground Coffee per IB $3.06
Loaf of Bread $1.82
Dozen Eggs 90 cents

-------------------------------------------------------------
Cost of Living 2010
How Much things cost in 2010
Average Cost of new house $232,880.00
Cost of a gallon of Gas $2.73
US Postage Stamp 44 cents
Dozen Eggs $1.37
Loaf of Bread $2.49
Price Of Gold Per Ounce ( August 27th 2010 ) $1,237.00

Price Barrel Of Oil ( August 2010 ) $73.00 per barrel
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dixiegrrrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 10:57 AM
Response to Original message
1. $39,258.00 in 2011 had the same buying power as $7,128.73 in 1971.

Annual inflation over this period was 4.36%.

http://www.dollartimes.com/calculators/inflation.htm

You are welcome.

:hi:
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 11:53 AM
Response to Reply #1
9. Thanks..
So, it takes 39,258.00 in today's income to buy what $7128. income in 1971 ought.. whooooopdeeeedoo.. haven't we progressed :(

some clown on MSNBC was almost bragging about Indiana's whopping $39258.00 average annual income.. :(

forty years down the road only to equal what we had in 1971....and that was 3000 less than the average income of 10,600..
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dixiegrrrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 02:13 PM
Response to Reply #9
10. 'zactly. I remember reading, in 1970, that a loaf of bread would cost 3.00
by the time I was of retirement age, and I remember being unable to understand how that could happen! Of course, back then, 3.00 was a lot more "valuable" than now.
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Common Sense Party Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 11:00 AM
Response to Original message
2. I'm not sure if this is what you're looking for.
What cost $39258 in 2010 would cost $7375.89 in 1971.

http://www.westegg.com/inflation/infl.cgi
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enlightenment Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 11:08 AM
Response to Original message
3. MeasuringWorth.com is the best site I've seen -
Edited on Wed Sep-07-11 11:11 AM by enlightenment
http://www.measuringworth.com/uscompare /

it allows very specific comparisons and has great explanations. Data only goes through 2010, however.

Your figure, from that website:

Current data is only available till 2010. In 2010, the relative worth of $39,258.00 from 1971 is:
$211,000.00 using the Consumer Price Index
$171,000.00 using the GDP deflator
$202,000.00 using the unskilled wage
$244,000.00 using the Production Worker Compensation
$339,000.00 using the nominal GDP per capita
$506,000.00 using the relative share of GDP

Data for the consumer bundle is only available through 2009.
New observations of the US GDP from 2002 to 2010 were released on July 29th and are used in these calculations. Results using these years will be slightly different.

If you need help/ determining which result is most appropriate for you, see Choosing the Best Indicator to Measure Relative Worth.


edited to add - if you turn the dates around, you get the data the way I think you want it - i.e., use 2010 as the initial year and 1971 as the desired year.


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JHB Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 11:18 AM
Response to Reply #3
6. I think he was asking for it the other way...
In 1971, the relative worth of $39,258.00 from 2010 is:
$7,290.00 using the Consumer Price Index
$9,030.00 using the GDP deflator
$7,640.00 using the unskilled wage
$6,330.00 using the Production Worker Compensation
$4,550.00 using the nominal GDP per capita
$3,050.00 using the relative share of GDP


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enlightenment Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 11:27 AM
Response to Reply #6
7. Yep - realised that after I hit post.
Edited to so say - but thank you for doing the actual calculation! :)
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 11:41 AM
Response to Reply #3
8. Thank you.. that;s what I wanted.. Some guy this am was bragging
Edited on Wed Sep-07-11 11:41 AM by SoCalDem
about Indiana having an average income of 39,258.00

In 1971, the relative worth of $39,258.00 from 2010 is:
$7,290.00 using the Consumer Price Index
$9,030.00 using the GDP deflator
$7,640.00 using the unskilled wage
$6,330.00 using the Production Worker Compensation
$4,550.00 using the nominal GDP per capita
$3,050.00 using the relative share of GDP

using any of this data pretty much proves that NO GROWTH has been happening for 40 years
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dixiegrrrrl Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 02:15 PM
Response to Reply #8
11. "NO GROWTH has been happening for 40 years"
Shhhhhhhh...that is supposed to be a HUGE secret.
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anarch Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 09:15 PM
Response to Reply #8
13. on the contrary, growth has been tremendous...especially in recent years
growth of executive income and the wealth of the already rich, that is.


For workers, wages have been systematically suppressed. It's hardly an accident. We're seeing the fruit of a long-planned and well-executed wealth transfer.
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enough Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 11:14 AM
Response to Original message
4. I entered college in 1962. The total charges (tuition, room, board and fees) were $2,500.
This year the same college total charges: $51,500.
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indepat Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 08:56 PM
Response to Reply #4
12. Entered college in 1952 and each school-year's total costs were:
tuition, fees, and season football ticket: $171
college dormitory : 165
books (estimated) : 75
food (estimated) : 450
incidentals : 139
total 1,000

That was a poor lads' bare-bones budget and the summer job before my senior year paid: $1.68 per hour x 13 weeks x 40 hours per week= $873.60 less some $27.00 or $28.00 withheld for social security. Also, my health insurance was three whole dollars per month as a student. I feel so sorry for my grandchildren having had to grow up as vassals in a debt-laden right-wing society wherein income inequity has burgeoned to levels last seen during the Great Depression, 40+ million are on food stamps, tens of millions are living in poverty, tens of millions are unemployed, under-employed, or not earning a livable wage, millions are in jail, all too many whose lives are now marred, if not ruined, over some minor, non-violent drug offense, ten of millions do not have access to medical or dental care, MIC spending, with 5% of the world's population, is almost as great as that of the rest of the world, and the PNAC agenda, featuring junior's pre-emptive wars of aggression, have been ratified and seem to have been made permanent by a Democratic Administration which has forged a grand bargain with repugs calling for austerity rather than stimulus during a time of massive unemployment, continuation of egregious tax breaks for the uber-wealthy who have sucked at the public welfare teat for more than 30 years, all to be paid for by eventually gutting social security and Medicare. I vow today to begin doing more for my grandchildren who are getting so-royally screwed by their Federal government. :patriot:
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-08-11 03:19 AM
Response to Reply #12
14. Even through the late 60's a kid could earn MOST of what they would need
for the next year, during a summer job. No one I knew worked a job during the school year. They pinched pennies & prepaid every fee they could so they would know exactly how much money they had for fun things, and every summer they worked their asses off so they could pay for next year. It was rare for a student to graduate with more debt than they could pay off in a year or so, post college..and the repayment plans were in the range of 20-50 a month, and were flexible too. Most people I knew with loans went through NSL.
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Selatius Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-08-11 03:38 AM
Response to Reply #14
15. The federal government doesn't subsidize education like it used to.
Budget cuts. Yet, there's more than enough money apparently to wage a decade long war. The side effect of debt saddled college grads is that they are less likely to challenge management if they carry high debt. Somebody who has no debt feels like he has less to lose vs. having debt. Makes for more obedient workers.
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rsmith6621 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-07-11 11:16 AM
Response to Original message
5. Looks Like Decades When Democrats Controlled....


...The White House inflation rates were down....very interesting.
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