In 1974, the federal minimum wage was $2 an hour. Adjusting for inflation, that would be $416,000 an hour today. The system is broken.
@lowqualityfacts This doesn't sound right but I don't know how inflation works
@BLTpizza It's actually $12.80. But the "inflation calculator" doesn't even begin to tell the whole story. In 1979 two friends and I rented a three-bedroom apartment on Charles Street in Boston. It cost $600/month. Today that apartment rents for $4,400/month.
If the price increased by only the rate of inflation, the rent would be $2,900/month.
Doc Freemo 
Yes but you have to keep in mind for everything that increases above inflation everything else increases less than inflation. and overall when you average it out and consider hte portion of your expense everything is, then you will arrive at the same as the inflation rate.
So yea sure your rent is going to more-than-inflation, but everything else you buy is less than inflation so in the end the inflation rate is still the more honest value and a more complete "telling" of the story.
Also one house is not representative of the average for houses. That house may have been unusually gentrified or something. So even then one data point is useless int he conversation.
Well I suppose thats one way to go from sounding like you were reasoned and well centered to showing you are clueless and dont understand the topic... have fun with that.
Ha, yea I did word that weird. What I meant to say is, the house may have been gentrified but still the rest of the town is shit, for example.
@freemo I'm sure our overlords appreciate your defense.