Then and Now: 1955 to 2010

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The disparity between wage increases and cost of product increases is staggering. See for yourself how college tuition has grown by 5300% while wage increases are far behind.

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  • How about you adjust for inflation then show the results.....
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  • the reason colleges are so expensive is because no matter what they charge the politicians guarantee the price. The banks are willing to make any loans to any student no matter how ridiculous. if each family had to pay their own money the colleges would spend night and day being more affordable. case in point, in 1955 a color television cost $800 and it was only 21 inches. Today I just paid $326 for a 39 inch and I have 250 channels to choose from. If the politicians had guaranteed the loans for the tv's the price today would be $30,000 we would have only 10 channels and they would be only 26 inches. Stop treating people like helpless babies we want to be free.
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  • I think there is an easy answer to your question, Russel. The reason college is so much more expensive is because it is a limited resource and regular people are competing for that resource along with the wealthiest people in the world. Further, the wealthiest people in the world (banks) make a great deal of profit off of lending the rest of us the money to go to the colleges whose prices they make huge. The other problem is liability lawsuits: colleges have to insulate themselves against massive liability for just about everything that can happen on their campuses, because we have gone away from a society in which adults are responsible for their own actions, to one where people can get sued for things like adults drinking themselves to death (which is not their fault) or someone falling down some stairs or whatever else happens. And of course, yet again, the wealthiest people profit from this situation (lawyers).

    We should get rid liability lawsuits and fix our economic system.

    I am starting a new blog at usaversion2.blogspot.com where I will be discussing ideas for doing that. Check it out.
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Then and Now: 1955 to 2010

  1. 1. Then and Now 1955 to 2010 Or How in the world did college get so expensive?RussellWhite.com © 2012
  2. 2. According to the US Census Bureau the average salary in 1955 was $4,418.RussellWhite.com © 2012
  3. 3. The national average wagefor 2010 was $41,674. That is an increase of 843% over 55 years.RussellWhite.com © 2012
  4. 4. In 1955 a week of groceries for a family of four cost $10.RussellWhite.com © 2012
  5. 5. In 2010 it cost $150. Anincrease of 1400%RussellWhite.com © 2012
  6. 6. According to AAA the average miles driven a year in 1955 was 10,000 at a operating cost of 9 cents per mile. ($900/yr)RussellWhite.com © 2012
  7. 7. According to AAA the average miles driven a year in 2010was 15,000 at a operating cost of 57.3 cents per mile. ($8,588/yr)RussellWhite.com © 2012 An increase of 854%
  8. 8. The average price for a vehicle in 1955 was roughly $2000.RussellWhite.com © 2012
  9. 9. The average price for a mid-sized passenger vehicle in 2010 was $29,817. An increase of 1,390%RussellWhite.com © 2012
  10. 10. In 1955, gasoline wasRussellWhite.com © 2012 27 cents a gallon.
  11. 11. In 2010 average price for a gallon of fuel was $3.23. An increase of 1,096%RussellWhite.com © 2012
  12. 12. In 1955 a pack of cigarettes was 20 cents a pack.RussellWhite.com © 2012
  13. 13. In 2010 a pack of cigarettes cost $5 per pack. An increase of 2,400%RussellWhite.com © 2012
  14. 14. In 1955 the minimum wage was 75 cents an hour.RussellWhite.com © 2012
  15. 15. In 2010 the minimum wage was $8.25 an hour. An increase of 1,000%RussellWhite.com © 2012
  16. 16. In 1955 it costs 3 cents to mail a letter.RussellWhite.com © 2012
  17. 17. In 2010 it cost 44 cents. An increase of 1,366%RussellWhite.com © 2012
  18. 18. In 1955 a 19” screen color TVconsole cost $1,000.RussellWhite.com © 2012
  19. 19. In 2010 a 42” LED, HDTV cost $500.RussellWhite.com © 2012
  20. 20. To fly from Atlanta to New York in 1955 would cost around $100 for coach.RussellWhite.com © 2012
  21. 21. In 2010 to fly from Atlanta to New York cost roughly $300. A 200% increaseRussellWhite.com © 2012
  22. 22. The average new home price in 1955 was $15,200.RussellWhite.com © 2012
  23. 23. The average new home price in 2010 was $213,900.RussellWhite.com © 2012 An increase of 1300%
  24. 24. In 1955 tuition and fees to attend one year at a public college was $198.RussellWhite.com © 2012
  25. 25. In 2010 tuition and fees to attend one year at a public college was $10,800. An increase of 5,300%RussellWhite.com © 2012
  26. 26. In 1955, Baseball MVPMickey Mantlehad a $33,000 salary. Roughly seven times thenational average wage.RussellWhite.com © 2012
  27. 27. In 2011 Albert Pujols signed a contract for $240 million for Roughly 577 times the national average wage. 10 years. A whopping increaseRussellWhite.com © 2012 over 1955 of ….
  28. 28. 72,627% If gasoline increased this much since 1955 we’d be paying $196/gal. Cigarettes would be $145.20 per pack. And if minimum wage increased this much it would be $544.70 an hour.RussellWhite.com © 2012
  29. 29. It begs the question: Why does the America public willingly pay for such disparity in college tuition and athlete salaries, while we scream at a 20 cents/gal increase at the pump?RussellWhite.com © 2012
  30. 30. In 1955 television reception was free, unemployment was 5%. The top hit of the year was Rock Around the Clock, and the Academy recipient for best picture was On the Waterfront. Were we better off Then or Now?RussellWhite.com © 2012
  31. 31. 803-831-7600 Russell@RussellWhite.com RussellWhite.com Russell J. White, president of Pinnacle Solutions, is one of America’s leading authorities on business in the new economy. He is an author, consultant, international speaker, and business expert on leadership and strategies for success in the new economy.RussellWhite.com © 2012

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