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Seven Ways to Compute the Relative Value of a U.S. Dollar Amount – 1774 to Present
Current data is only available till 2009. In 2009, the relative worth of $33,400.00 from 1988 is:
|$60,600.00||using the Consumer Price Index|
|$54,700.00||using the GDP deflator|
|$63,300.00||using the value of consumer bundle|
|$62,400.00||using the unskilled wage|
|$64,300.00||using the Production Worker Compensation|
|$73,700.00||using the nominal GDP per capita|
|$92,500.00||using the relative share of GDP|
Which means that if, you are making $60,600 dollars a year right now – you are actually only making something less than $33,400 dollars in 1988 money and what it could buy, based on the consumer price index.
But, it would take $63,300 a year to have the same amount based on a consumer bundle of goods.
And, to have the same amount as $33,400 represented in 1988 of the US GDP – it would take a salary of $92,500 dollars a couple years ago (2009) – this year and last year it would’ve been even worse, requiring a great deal more than that to have the same $33,400 dollar worth of real financial value.
But here is where it really gets fun –
TO have $33,400 dollars worth of 1972 money’s value and goods and value – two years ago in 2009 (and more today in 2011) – you would have to make –
Current data is only available till 2009. In 2009, the relative worth of $33,400.00 from 1972 is:
|$171,000.00||using the Consumer Price Index|
|$137,000.00||using the GDP deflator|
|$172,000.00||using the value of consumer bundle|
|$164,000.00||using the unskilled wage|
|$190,000.00||using the Production Worker Compensation|
|$260,000.00||using the nominal GDP per capita|
|$381,000.00||using the relative share of GDP|
That means to have the things that $33,400 annual salary would buy in 1972 – it would take –
$171,000 dollars a year salary in 2009.
or $172,000 based on consumer bundle
or as an accurate comparison of the US GDP
$381,000 to be the same currency value of the United States (2 years ago)
You might want to read this –
How the middle class became the underclass
Incomes for 90% of Americans have been stuck in neutral, and it’s not just because of the Great Recession. Middle-class incomes have been stagnant for at least a generation, while the wealthiest tier has surged ahead at lighting speed.
In 1988, the income of an average American taxpayer was $33,400, adjusted for inflation. Fast forward 20 years, and not much had changed: The average income was still just $33,000 in 2008, according to IRS data.
But, our legislators in every state and their staff members make a whole lot more than that each. As, does our Congressional members and Senate members and each of their staffs.
And, on top of that – just to be sure –
During 1972 our President was Republican
(and a crook)
During 1980 – our President was Republican
(and brought in people from the 1972 paranoid Republican crook)
In 1988 our President was Republican
And much of that time in between.
In 1995 our President was a Democrat – with a Republican Congress.
In 2002 our President was Republican.
In 2006 our President was Republican and most states were run by conservative Republican rulers.
And, in 2009 – despite getting a President that is a Democrat – the majority of state governors and state administrations and state legislatures were Republican.
For thirty years, we have been dominated by
Republicans. and by conservatives and right wing politicians.
Not everyone’s voice.
Nope, just the moral minority who have sponsored and highly paid Rush Limbaugh and various other loudmouthed obnoxious right wing operatives.
And, then it turns out – the Republicans weren’t even personally moral, either – among the “moral right wing minority” that have been running the country into the ground all this time. Even once, they couldn’t keep it in their pants when it came right down to it – and the vast array of unethical, illegal, morally bankrupt crap that has gone on in their administrations will fill history books for ages to come.
And, then the Wall Street debacle.
And, then it turns out that no one is actually making the money they thought they were making because it damn near won’t buy anywhere close to what it could buy thirty years ago, or twenty years ago or even, ten years ago.
– but, no that isn’t even enough –
The Labor Department still estimates that only 58% of our employable workforce is employed – and that doesn’t include the one-third of our US population that is in jail, prison, incarcerated in some damn program or in some institution.
So – what is wrong with this picture?
Just about everything.
But, that didn’t stop the House of Republicans from deciding that we are too broke to help with domestic spending but not too broke to send $10 billion dollars and more out of the country to provide “economic development” to other countries. Not for our businesses doing business there. No – it is to help “jump start” their economic development and their economies.
But, we’ve been doing that for over thirty years – every single year and paying for them to have infrastructure projects and development through the United Nations funds, the IMF funds, the International Development Banks and Loans and Guaranteed Loans that we backed and then wrote off and forgave – and on and on and on and on.
It has been obscene. Why should it be that way now that our nation is the one suffering economic blight?
Watching the Republicans gut the Congress and our national budget to suit themselves inspired this morphed representation for what they’ve done to it.
And, for what the Republican Party has done to our money, our employment opportunities, the gutting of our businesses, the driving of our national businesses and industries into bankruptcy and millions of other assaults on the American people – that is exactly what they’ve done over thirty years.