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$175,000 for 50 years? He's 71 now so he went into prison at 21. That means he spent virtually his entire life in prison. He could have done so many things, but instead he needed to sit in a prison cell. All because he was wrongly convicted.
And because I'm a math geek and need to figure this stuff out, $175,000 over 50 years is $3,500 a year. If we calculate what he would have earned at the federal minimum wage over that time frame (ignoring bank account interest or inflation just to keep things simple), we'd get over $500,000.
They're giving him a third of what he should have earned at bare minimum. (And that ignores all the other horrible things involved with being wrongfully imprisoned for 50 years.)
Yeah. The sum they owe him should be a "whoops we fucked up badly, sorry. Take these 175k while we think about what you could have made if we didn't. It's just to get you started, there'll be more next month."
When you did your calculations did you factor in the change in minimum wage and inflation? I'm sure the state owes him more than $500k.
I didn't factor in inflation as I was trying to keep it quick and simple. I also didn't factor in any interest he might have received from a bank account. This was purely "he works minimum wage and stuffs all the cash he gets into a big jar - how much does he have after 50 years."
I was also using the federal minimum wage. Obviously, many states have higher minimum wages so he might have made more than the federal minimum wage had he been free to move to another state.
Of course, the $500,000 figure only accounts for money that he would have made. It doesn't include all the suffering he had to endure or the fact that the state basically ended his life at 21. He didn't get to live his life and his future life is going to be rough. Not only does he need to adjust to life out of prison, but he likely has nothing. It's not like many places are rushing to hire a 71 year old with no job experience for the last 50 years because they were in prison. The money he gets should at least be enough for him to comfortably retire.