Ok and assuming this person was probably in the 80’s where minimum wage was about half what it is now… that means the $310 should be $620… which it isn’t.
Just compare median income with median rent over the span of time in various places of the world. Make a study like that, or find one that did this. That’s useful information.
“In 2023, 1.1% of hourly paid workers in the USA earned the federal minimum wage or less.”
Okay minimum wage+50¢, woopie. It’s someone’s first apartment. For rent. This is not median levels of income. This is first quartile at best. Median income shouldn’t even be renting.
The data is on household incomes which is less ideal than individual income but whatever.
Ignoring if it’s the same apartment from the 80s to now that’s 40 years older, and I doubt it’s been kept up to date, so it should not be worth anywhere near as much, but you know, whatever.
Aight, now you need to figure out why this is the case. Real estate went up in value. Why is that?
Your country has a lot of capital. Like 550k euros per adult. In a country of 230 million adults or such. It’s all residing at top 1 to 10% because they live in USA for its legislature.
If you change the legislature then they’d flee to other parts of the world. Such as Ireland.
I’d say go and learn French and move to France. They have the highest taxes in the world. Bonjour Duolingo, comment çava?
That approach should be the standard, not talking bout minimum wages when it’s clearly just a symbolic euro. Your country doesn’t have a real minimum wage so you cannot use it in calculations.
Ok and assuming this person was probably in the 80’s where minimum wage was about half what it is now… that means the $310 should be $620… which it isn’t.
Just compare median income with median rent over the span of time in various places of the world. Make a study like that, or find one that did this. That’s useful information.
“In 2023, 1.1% of hourly paid workers in the USA earned the federal minimum wage or less.”
Okay minimum wage+50¢, woopie. It’s someone’s first apartment. For rent. This is not median levels of income. This is first quartile at best. Median income shouldn’t even be renting.
But sure, they have data on quintiles, so let’s use upper limit of the first from 1985 (~10k) and 2022 (30k) is 3x so even at that, it should be $930. https://taxpolicycenter.org/statistics/household-income-quintiles
The data is on household incomes which is less ideal than individual income but whatever.
Ignoring if it’s the same apartment from the 80s to now that’s 40 years older, and I doubt it’s been kept up to date, so it should not be worth anywhere near as much, but you know, whatever.
Aight, now you need to figure out why this is the case. Real estate went up in value. Why is that?
Your country has a lot of capital. Like 550k euros per adult. In a country of 230 million adults or such. It’s all residing at top 1 to 10% because they live in USA for its legislature.
If you change the legislature then they’d flee to other parts of the world. Such as Ireland.
I’d say go and learn French and move to France. They have the highest taxes in the world. Bonjour Duolingo, comment çava?
Have to say it is very fun watching you dismantle their hand-wavy bullshit on their terms lol
That approach should be the standard, not talking bout minimum wages when it’s clearly just a symbolic euro. Your country doesn’t have a real minimum wage so you cannot use it in calculations.