I was SHOCKED out of my wits when I converted $10,000.00 in constant 1975 dollars to 2010 dollars! In 2010 it takes $40,553 to buy the same thing we bought in 1975 for $10,000.00! And since that’s true, why is $250,000.00 a year considered rich?
If the calculation is reversed, someone earning $250,000.00 in 1975 would have to earn $1,013,838.29 in 2010 to be considered rich! What’s up with the government and their tax initiatives?
How easily we forget to “adjust” our learning curve to “current.” Try it yourself. This currency calculator converts constant dollars from 1913. When our thinking stagnates in the past we shoot ourselves in the foot and then wonder why we’re limping!
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