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One reason Nixon kept the Vietnam War going for so long was that it was a money maker for US industry. Besides the steel mills making the bombs, there were ships carrying the munitions, trucks delivering the munitions, etc etc.
Remember, in 1960 US minimum wage was $1.00/hour and the price of a home was $11,000.00
Oh so at 7.25 an hour, checks math we should be at like 80k for a house today, right? right guys?
No, the way to read that is: a home costs about 11,000 hours of labor at that time. So assume 400k house, that would mean $36/hr min wage. Now that will be much less in rural areas, but the wages have not kept up with inflation (or productivity). Demand higher wages.
Yeah that was my point, we are in agreement
Two points. First, the 'merely rich' aren't doing much better than their counterparts of the past. Angelina Jolie isn't substantively richer than Elizabeth Taylor was. Second, the price of luxuries has skyrocketed. The original Corvette cost about $6,000.00 when the average worker made $5,000.00 a year. Today the new Corvette, which isn't even the most expensive car, is about $250,000.00. Tickets to Super Bowl I were about $12.00 iirc.
MSRP for a Corvette: $69,995.
Also if it were 250,000, Jolie can buy a handful of them every year and never touch the money she has in the bank. The interest would more than cover it.
125,000,000 worth Yearly income of interest if ONLY 5% 6.25 Million.
She can buy a new house, car and furnish it yearly and forget where she put the keys and go buy another every time she forgets where she put them.
I don't think she needs to be doing any better than she is now
Let's have a war!
Jack up the Dow Jones! - FEAR
WHAT??? I thought it was called trickledown economics not trickleup economics??? American politicans lie??? WHAT???
It is literally in the name. Trickle-down. You do know what a trickle is?
Trickledown and firehouse up!
what trickled down was piss
Yeah, it feels like it.
Due largely in part by the party that he keeps aligning with. Capitalism is a cancer that needs to be cut out.