MuskyMelon@lemmy.world to Political Memes@lemmy.world · 19 hours agoSenator can't mathlemmy.worldimagemessage-square60fedilinkarrow-up1416arrow-down120
arrow-up1396arrow-down1imageSenator can't mathlemmy.worldMuskyMelon@lemmy.world to Political Memes@lemmy.world · 19 hours agomessage-square60fedilink
minus-squareVictor@lemmy.worldlinkfedilinkarrow-up15arrow-down2·edit-26 hours agoBut his math is correct? ¢25 in 1953, 72 years ago, is $3.03 when adjusted for inflation according to US Inflation Calculator. And the current gas price is $2.4 per gallon in Iowa where he is from. (Not sure where he went to college but whatever.) It’s ¢60 cheaper per gallon now, when adjusted for inflation. If he’s right about the price he paid, he’s also right about it being cheaper now. Surely Trump didn’t help during all these 72 years but the math is correct, even if the logic is flawed.
minus-squareKittyCat@lemmy.worldlinkfedilinkarrow-up2·2 hours agoSurprisingly it come out more or less equivalent, around 39% of an hour at minimum wage
minus-squareKittyCat@lemmy.worldlinkfedilinkarrow-up2·edit-22 hours agoThat’s much worse, in Iowa, average real cost has about doubled since 1953 Year Current Dollars Constant 2020 Dollars 2025 $1,027 $808 2024 $981 $807 2023 $943 $801 2022 $860 $761 2020 $808 $808 2000 $470 $724 1990 $336 $661 1980 $226 $688 1970 $99 $585 1960 $68 $516 1950 $43 $397 1940 $23 $370
minus-squareMojoMcJojo@lemmy.worldlinkfedilinkarrow-up21arrow-down1·10 hours agoIt sure as hell ain’t $2.4 a gallon here.
minus-squareVictor@lemmy.worldlinkfedilinkarrow-up3arrow-down1·edit-26 hours agoWelp, you gotta compare apples to apples. I added the detail about the gas price in Iowa, where this senator is from. Not sure if he went to college there but meh.
But his math is correct?
¢25 in 1953, 72 years ago, is $3.03 when adjusted for inflation according to US Inflation Calculator.
And the current gas price is $2.4 per gallon in Iowa where he is from. (Not sure where he went to college but whatever.)
It’s ¢60 cheaper per gallon now, when adjusted for inflation.
If he’s right about the price he paid, he’s also right about it being cheaper now.
Surely Trump didn’t help during all these 72 years but the math is correct, even if the logic is flawed.
Now do minimum wage
Surprisingly it come out more or less equivalent, around 39% of an hour at minimum wage
Great! Now do rent.
That’s much worse, in Iowa, average real cost has about doubled since 1953
Year Current Dollars Constant 2020 Dollars
2025 $1,027 $808
2024 $981 $807
2023 $943 $801
2022 $860 $761
2020 $808 $808
2000 $470 $724
1990 $336 $661
1980 $226 $688
1970 $99 $585
1960 $68 $516
1950 $43 $397
1940 $23 $370
It sure as hell ain’t $2.4 a gallon here.
Welp, you gotta compare apples to apples.
I added the detail about the gas price in Iowa, where this senator is from. Not sure if he went to college there but meh.