>In 1914, Henry Ford started paying their workers $5 per day for a 40-hour work week >$5 in 1914 = Half eagle coin (1/4 troy oz) >Today's gold price = $1,847 USD per troy oz >$461.75 dollars a day ($57.75/hr) >No income tax or social security as well
Wasn't there a bunch of stuff you needed to do to get the $5 a day? I know you weren't allowed to smoke, not sure about drinking, needed to have a family, and said family was subject to quality inspections.
Jaxson Myers
Now Ford is one of the biggest supporters of left wing policy and think tanks. Like BLM etc they give 100's of millions of dollars to those kind of organizations look it up.
Brody Collins
To be fair. Ford was an outlier at the time. Most places weren't even paying half that, Ford did primarily because his own beliefs made him go "Record profits means we pay the workers more, increase production and lower prices" This pissed off shareholders leading them to sue him and setting up the precedent set by Ford vs Dodge.
He is using the value of gold rather than stated inflation.
John Brooks
Come on man you should know the way they calculate CPI is a 'basket of goods' whos prices they manipulate
Jack Harris
>family was subject to quality inspections So penis inspection day was really a thing?
Robert Bennett
I'm a maintenance and janitor by trade. The top medium salary is $18 hr or 35k a year. I hear people who make cars can make over 100k a year.
Thomas Wright
This was actually fairly common throughout US history with company towns. They'd typically impose a lot of limits on your personal life. Six day work weeks were common with sunday only being a day off so you could go to church, which was mandatory if you wanted to be paid for the week. They'd also impose bans on drinking and other behaviours. Mandating the staff live in provided accommodation which would be run by people who'd spy on the workers habits and conduct.
Benjamin Roberts
1/4 troy oz of gold in 1914 = 1/4 troy oz of gold in 2022 $1 USD in 1914 = fuck all in 2022
Income tax was supposed to be temporary in Canada as well, and it was introduced right around that time. Very close to when the US fed was established. Not hard to figure out what happened.