Hey, guys, I can remember these bayonets at 5 bucks, brand-new, in grease, with scabbard.
Only problem was that the minimum wage at that time was $1.25 an hour.
Change things over to 'how long did you have to work to get it' and prices aren't so scary.
The politicians lie, always. This country has seen close to 1,000 percent inflation in the last 40 years. For proof, look at a chocolate bar. A dollar chocolate bar today is smaller than a 10-cent bar used to be. Problem with inflation is that it is cumulative and progressive. Look at what happens to a dollar at an inflation rate of 10% constantly.
After 1 year, you have $1x.9= 90 cents.
After 2 years, the SAME dollar is 90 cents x .9= 81 cents.
A year later, it is .81x.9= 73 cents.
A year later, it is .73x.9= 66 cents
At the end of 5 years of this, your dollar is now .66x.9= 59 cents.
In just 5 years, your 'dollar' has lost 40 percent of its purchasing power.
After 10 years, you are looking at:
Year 6: .59x.9= 53 cents
Year 7: .52x.9= 48 cents
Year 8: .48x.9= 43 cents
Year 9: .43x.9= 39 cents
Year 10: .39x.9= 35 cents and you still think it is a DOLLAR. Your PAY has gone up and that puts you into a new tax bracket, but while the tax bracket has gone up, your pay hasn't gone up enough to make up for losing 65 cents on every dollar. So you are paying a HIGHER tax rate on LESS actual purchasing-power than you were.
The $12 rifle I bought in high-school now is a $200 rifle.... and I'm losing purchasing-power on the deal if I sell it.