$1.00 in 2000 = $1.62 in 2022

[Doomsday Dallas]

https://www.in2013dollars.com/us/inf.../2000?amount=1

Value of $1 from 2000 to 2022

$1 in 2000 is equivalent in purchasing power to about $1.62 today, an increase of $0.62 over 22 years. The dollar had an average inflation rate of 2.21% per year between 2000 and today, producing a cumulative price increase of 61.91%.

This means that today's prices are 1.62 times higher than average prices since 2000, according to the Bureau of Labor Statistics consumer price index. A dollar today only buys 61.73% of what it could buy back then.

The inflation rate in 2000 was 3.36%. The current year-over-year inflation rate (2021 to 2022) is now 7.04%. If this number holds, $1 today will be equivalent in buying power to $1.07 next year. The current inflation rate page gives more detail on the latest inflation rates.

if you were making $31,500 in the year 2000, and are now making close to $50,000 in the year 2022, You can afford less than what you did 22 years. Your income did not improve. You did not improve in life.

$31,500 x $1.62 = $51,030.


If the average salary in 2000 was around $31.5k and today it is only $35.7k.... The average American has $15,330 less purchasing power on average than they did 22 years ago.

$51,030 - $35,700 = $15,330

America on average, has lost about 50% of it's financial flexibility and freedom in the last 22 years.... and that will probably double 10 years from now.


We are witnessing the middle class get wiped out right before our eyes... and there is nothing we can do to stop it.

By the year 2032, you'll have to be making $70k a year to have the same benefits as the average American did in 2000 making $31,500.... the average salary will be about $40k.

[Nanners]

[Off the Court]

That's 2.5% per year compound. Not bad at all 21 years is a long time.

[Long Duck Dong]

Idk how people can afford homes and cars these days on a "middle class" income.

I got a steal on my diesel truck in 2011. It was a 2008 and I bought it for 21k out of state with 108k miles and some rust on undercarriage which was easy to get rid of. Some guy offered me $19k 10 years and 90k miles later.

My house sold new in 1998 for 189k. I bought it in 2012 for 210k. It was worth around 400k 3-4 years ago. It's now worth around 500k.

I don't care if Walmart and Mcdonald's workers are getting paid around $15/hr. You need to save years to buy a good truck at that rate or a decade or more to buy a house that's not in the middle of nowhere or in the ghetto. Even if you are making 60k with the high cost of rent and everyday purchases, how can you save money unless you are on your own living with multiple roommates or with your parents?

[Nanners]

Idk how people can afford homes and cars these days on a "middle class" income.

I got a steal on my diesel truck in 2011. It was a 2008 and I bought it for 21k out of state with 108k miles and some rust on undercarriage which was easy to get rid of. Some guy offered me $19k 10 years and 90k miles later.

My house sold new in 1998 for 189k. I bought it in 2012 for 210k. It was worth around 400k 3-4 years ago. It's now worth around 500k.

I don't care if Walmart and Mcdonald's workers are getting paid around $15/hr. You need to save years to buy a good truck at that rate or a decade or more to buy a house that's not in the middle of nowhere or in the ghetto. Even if you are making 60k with the high cost of rent and everyday purchases, how can you save money unless you are on your own living with multiple roommates or with your parents?

You cant, and thats not an accident, very its intentional.

The great reset is all about building a technocratic neo-feudal world where the people of this earth are either part of the 1% elites or the 99% serfs. In order to create this new world order the middle class and their wealth much be completely obliterated.

[Doomsday Dallas]

That's 2.5% per year compound. Not bad at all 21 years is a long time.

the cost of living is now 40% - 50% higher.

if the average salary has only gone up $4k in 20 years, cost of living is now 40 to 50 percent higher in that short 21 year time span.


Only going to get worse.... a slow economic death for millions upon millions of Americans.

It's going to be like California on a Nationwide level... where everything is overpriced.

[Nanners]

the cost of living is now 40% - 50% higher.

if the average salary has only gone up $4k in 20 years, cost of living is now 40 to 50 percent higher in that short 21 year time span.


Only going to get worse.... a slow economic death for millions upon millions of Americans.

It's going to be like California on a Nationwide level... where everything is overpriced.

also just like Cali everyone will be legally required to give their kids hormone blockers, and using the wrong pronoun will be a felony

and you'll be happy!

[JohnnySic]

Hey, check out the new one dollar bill. Its pretty cool!

[bladefd]

https://www.in2013dollars.com/us/inf.../2000?amount=1




if you were making $31,500 in the year 2000, and are now making close to $50,000 in the year 2022, You can afford less than what you did 22 years. Your income did not improve. You did not improve in life.

$31,500 x $1.62 = $51,030.


If the average salary in 2000 was around $31.5k and today it is only $35.7k.... The average American has $15,330 less purchasing power on average than they did 22 years ago.

$51,030 - $35,700 = $15,330

America on average, has lost about 50% of it's financial flexibility and freedom in the last 22 years.... and that will probably double 10 years from now.


We are witnessing the middle class get wiped out right before our eyes... and there is nothing we can do to stop it.

By the year 2032, you'll have to be making $70k a year to have the same benefits as the average American did in 2000 making $31,500.... the average salary will be about $40k.

It actually goes back to the late 60s. Cost of living/goods/produces has continuously gone up, but income has not kept up. It has only kept up for the top 10% (top 1% had by far the biggest growths). Bottom 90% has been getting screwed over. This is a huge chunk of the issue with income inequality.

As far as the inflation angle goes, there is nothing wrong with having 2% annual inflation under one circumstance: income keeps up with inflation. If income doesn't keep up with inflation then it becomes a net negative for the average person.

To explain further, the US treasury believed up to the mid-90s that you should have 0% inflation because inflation is not good for the economy. In the mid-90s, they decided 2% annual inflation should be okay to keep the economy more flexible and better able to respond to debt as it began to grow. There were other economics reasons you can probably look up and study in more depth, but remember economics theory is not stationary. It's always going through new ideas and shifts in thinking.

[Shogon]

[Off the Court]

the cost of living is now 40% - 50% higher.

if the average salary has only gone up $4k in 20 years, cost of living is now 40 to 50 percent higher in that short 21 year time span.


Only going to get worse.... a slow economic death for millions upon millions of Americans.

It's going to be like California on a Nationwide level... where everything is overpriced.

As long as wages increase at a similar rate which seems to be 2.5% it should all even out.

House prices are different though, those have basically doubled over the past decade. Supply and demand. Looks like they're is a huge supply increase coming though, lots of builders building.

[Mr. Woke]

also just like Cali everyone will be legally required to give their kids hormone blockers, and using the wrong pronoun will be a felony

and you'll be happy!

Nothing you said in that post actually happens in real life No one is legally required to give kids hormone blockers and using wrong pronouns isn't a crime.

You have been brainwashed by BS right wing propaganda. It's hilarious how gullible conservatards are.

[j3lademaster]

I don't care if Walmart and Mcdonald's workers are getting paid around $15/hr. You need to save years to buy a good truck at that rate or a decade or more to buy a house that's not in the middle of nowhere or in the ghetto. Even if you are making 60k with the high cost of rent and everyday purchases, how can you save money unless you are on your own living with multiple roommates or with your parents?

You don't. I remember in 2007 we had the whole 'once you're 18 you move out' culture and that's just not going to happen anymore. A lot of those McD's and Walmart workers making $15/hr in LA are living in their cars. The wealth gap is demotivating. And the demand for grades and certification on kids with no work experience is higher than ever, so it's understandable to see the gen z work force getting burnt out.

[j3lademaster]

You cant, and thats not an accident, very its intentional.

The great reset is all about building a technocratic neo-feudal world where the people of this earth are either part of the 1% elites or the 99% serfs. In order to create this new world order the middle class and their wealth much be completely obliterated.

Unfortunately, very accurate.

[Jasper]

op can now shop at Wal-Mart