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DOLLAR INFLATION in the united states
2017 Purchasing power
2017, $100 dollar bill had the equivalent in buying power of $106.76.
2017 Purchasing power
2017, $50 dollar bill had the equivalent in buying power of $60.44.
2017 Purchasing power
2017, $20 dollar bill had the equivalent in buying power of $24.18.
If a person rent was $927.60 in 2017, now it should be about $1,500 dollars
if you have 1 million dollars in 2023, your purchasing power is $ 618,400
5 years from the bill at the top to this bill, a lose of $38.16 purchasing.
Today's $100 dollar bill has equivalent in buying power of $61.84, at this rate over the next 5 years the $100 bill purchasing power will be $23.68 .
So what does all of this mean, if you put $500 dollars in a box for 5 years, when you open the box it's purchasing power will be $118.40.
5 years from the bill at the top to this bill, a lose of $5.91 purchasing.
Today's $50 dollar bill has equivalent in buying power of $44.09, at this rate over the next 5 years the $50 bill purchasing power will be $38.18. So here's one of the employment problems, if you make $50 a hour on a job, your really making $38.18 an hour, after state & federal taxes you make $29.78 an hour.
5 years from the bill at the top to this bill, a lose of $0.56 purchasing.
Today's $20 dollar bill has equivalent in buying power of $19.44, at this rate over the next 5 years the $20 bill purchasing power will be $18.88. So here's one of the employment problems, if you make $20 a hour on a job, your really making $18.88 an hour, after state & federal taxes you make $14.72 an hour. And minimum wage at $15 to $17 an hour after taxes you are making $11.70 on $15, and $13.26 on $17 an hour.
U.S. inflation
U.S. Average class, Lower class, and Middle class, Financial Incomes 2023
National average income $67,500, per year, 2023
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Lower class income $135,000, per year, 2023
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Middle class income $270,000, per year, 2023
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The lesson here; do the math and learn the true book value of items before you purchase them.
