[ARC5] inflation

[gordon white]

When doing family research I attempted to  equate my great grandfather's 
income in 1892 with an equal amount today. Since there were no income or 
payroll taxes then, what he earned was worth at least 50% more than even 
an inflation-adjusted amount today. No Social Security tax, no medicare 
tax, no capital gains tax, though of course he had to finance his own 
medical expenses and retirement. Difficult to figure.

- Gordon