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From a Letter to the Editors of AvWeb
Ponder this statement:
It takes approximately eight 1978 dollars to buy today what one dollar would buy in 1978. The $38,000 Archer in 1978 would cost eight times that, or $304,000 today in today's devalued dollar. By the same measure, a job paying $10,000 in 1978 would be paying $80,000 today but would have no more purchasing power than the $10,000 did in 1978.
It would, in fact, have less purchasing power because of a larger percentage going to income and other taxes.
(From Curt Krehbiel, AvWeb Avmail)
The problem is; the job that paid $10K in 1978 is not paying $80K today.
__________________
Herb R Harney
1968 337C
Flying the same Skymaster for 47 years
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