Thread: Cheap Gas?
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06-22-2008 02:24 PM #1
Cheap Gas?
Found this on the internet, so it immediately becomes suspect, but do you agree with it? I remember in the early to mid-sixties that to take a girl to a movie and then the local "Mel's Diner" back home for a hamburger and coke, it would cost a total of about $5.00 and I sweated to get that much together.
What about gas prices as a percentage of our income?
In other words, does the gas bite of our paycheck rival the bite of yesteryear? Not even close. Given today's fatter paycheck, we pay less as a percentage of our mean disposable income. A gallon was 27 cents in 1949 – but to put the same pinch on your wallet today, you'd pay $6.68. Gas for 1962's "muscle cars" cost 31 cents a gallon. To feel the same economic impact today, you'd pony up $4.48 a gallon.I thought I was broke 'til I bought a streetrod
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