Tooth Fairies and Quarters

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A survey by Visa says that the recession has caused a drop in the average amount the Tooth Fairy pays for a tooth, from $3 to $2.60. Jon Chait comments:

Clearly this is a prime expenditure to cut back when you’re feeling strapped. But $2.60 seems really high to me. My kids each lost a tooth the other night — actually within seconds of each other, strangely enough — and I gave them each a dollar. I thought it seemed high. When I was a kid I got a coin — either a dime or a quarter, I can’t recall which.

I don’t remember either. But let’s say it was a dime back in 1965, my prime tooth-losing year, which is roughly the same as a quarter in 1979, Chait’s prime year. Adjusted for CPI, that only comes to about 75 cents today, which does indeed make three bucks seem pretty high. On the other hand, that dime in 1965 represented 0.00028% of per-capita GDP, which comes to about $1.40 today. Or maybe income is a better measure. In 1965, a quarter represented 0.0078% of the median income. The equivalent today would be about a dollar.

That’s quite a range, which just goes to show that it’s harder to figure out this stuff than you’d think. In any case, an exodontic payoff of about a dollar or so is definitely in the same range as my dime or Chait’s quarter. His kids have no reason to feel ripped off. I am, however, now suspicious of Visa’s survey methodology. I know my readers are hardly a cross section of America, but how much do you give your kids for a tooth under the pillow?

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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