College costs 10-15x more now than it did in 1980 while that $6 in 1980 is worth more than double the minimum wage so that means his 1980s money had 20-40x the college degree buying power compared to 2017. Edit: That math isn't perfect but it's way closer than you think.
twowordsdefault on November 21st, 2017 at 02:44 UTC »
And college (and housing) costs rose much faster than inflation
WoolySloth on November 21st, 2017 at 02:45 UTC »
College costs 10-15x more now than it did in 1980 while that $6 in 1980 is worth more than double the minimum wage so that means his 1980s money had 20-40x the college degree buying power compared to 2017. Edit: That math isn't perfect but it's way closer than you think.
duhblow7 on November 21st, 2017 at 06:51 UTC »
minimum wage in 1980 was $3.10.
source: https://www.dol.gov/whd/minwage/chart.htm
using that calculator it would be $9.83 now.
https://i.imgur.com/H3KmPI2.png
federal minimum wage is currently $7.25