Posted By terry_n_85318 on 05/13/2008 4:14 PM
One thing to consider -- In the 70's the cost of gas was 0.50 / gal and the hourly wage was $5 and hour. Wages have gone up faster than the cost of gas and the ratio is lower now.
The government makes a very large profit on a gallon of gas -- much more than the oil companies.
Terry
That's a line of bull! As long as you ignore inflation everything was cheaper. Adjusted for inflation the price of gasoline in 1972 was over $2.00 per gal in today's dollars. That same year the minumum wage was 1.60 per hour or $6.20 per hour in today's dollars. WaGES HAVE NOT GONE UP FASTER THAN THE PRICE OF GAS.
Mark
One thing to consider -- In the 70's the cost of gas was 0.50 / gal and the hourly wage was $5 and hour. Wages have gone up faster than the cost of gas and the ratio is lower now.
The government makes a very large profit on a gallon of gas -- much more than the oil companies.
Terry
That's a line of bull! As long as you ignore inflation everything was cheaper. Adjusted for inflation the price of gasoline in 1972 was over $2.00 per gal in today's dollars. That same year the minumum wage was 1.60 per hour or $6.20 per hour in today's dollars. WaGES HAVE NOT GONE UP FASTER THAN THE PRICE OF GAS.
Mark
