When I was in college I got a summer job as a heavy equipment mechanic and started at $6/hr. I had no real experience and it was just a summer job. I don't recall what minimum wage was back in 1976. The point is that my son made about $6/hr in High School a year ago. I bought a brand new Toyota Celica for $3900 in 1975 (Senior in High School). A brand new car like it would cost at least $15,000-20,000 today. So wages have not changed much but car prices have skyrocketed. This is just one reason the rich get richer and poor get poorer. Wages have not gone up proportionately to the rise in prices of goods. This is more true towards the lower end of the pay scale in my opinion.
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