mgmorden
Member
Sorry, but you are confusing increases in minimum wage with inflation - the two are not the same and cannot be compared to each other. use one of the inflation calculators found on the web for a better comparisonSince minimum wage has almost quadrupled since 1974 a Colt AR should be selling for $2800-$3200 if it were keeping pace.
Even if you use an inflation calculator, he's not that far off.
$700-800 in 1974 dollars becomes $3060 - $3497 in 2010 dollars (which is as high as the inflation calculator went).