Comment by will4274
12 hours ago
Poor people in America (25th percentile) have more money that middle class people (50th percentile) in Europe. This wasn't true 20 years ago.
12 hours ago
Poor people in America (25th percentile) have more money that middle class people (50th percentile) in Europe. This wasn't true 20 years ago.
Money is one thing, quality of life is another. Also money alone isn’t even a fair comparison because stuff costs different amounts across countries.
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This is untrue. https://en.wikipedia.org/wiki/List_of_countries_by_wealth_pe...
Median wealth per adult has the USA at #28, below Italy, Spain, Slovenia, and Portugal.
Income is the relevant metric. Most poor people (worldwide) have negligible savings.
USA 25th percentile 28k to 30k EU-27 50th percentile 24k to 26k.
This comment contradicts your earlier comment though, where you mentioned “poor people have”, a clear reference to wealth rather than earnings.
4 replies →
This is moving the goalposts. You said "have more money than."
1 reply →
You have to look at purchasing power parity.
A bigger salary is no good if you have nothing left after paying housing, groceries, bills, education, healthcare...
more money but what about access to healthcare, education, vacation?
It's a shrinking issue once you get out of the bottom ~50%, and a non-issue once you get above ~75%.
Again, the deal with the US is that the rich live better and the poor live worse. Or put another way; people who make money get to keep more, and people who don't make money are given less.
Because there are so many more people who have money, and because those people like living comfortably, available healthcare and education is world class. Make sure not to read that as "All healthcare and education", it's "available healthcare and education".
Generally people who are earning a lot don't care as much about vacation, but every white collar job will generally give at least a standard 15 days off and 10 holidays. Ironically as you move up you are generally given more vacation while actually using less.
I think we are seeing the decline of even this. The European debt crisis, the United States security umbrella being disinterested in Europe, austerity, increasing retirement age, an inability to defend Ukraine without the United States. The running gag they don't have AC...
Even poor populations worldwide have access to the 3 things you described, but the quality is lower.
European decline has been mentioned since the 1930s.
Poor people in the US have fully subsidized healthcare and education.
Americans don't have vacation in the same way Scandinavian countries don't have a minimum wage. Even the most left-leaning States in the US have not written it into law because it is effectively addressed by custom. Americans are sufficiently happy with it that vacation isn't a political topic.
And yet the poorest 25th percentile of Americans are not enjoying a better quality of life than the European middle class. If those numbers are accurate, all they tell us is that personal wealth is an even worse indicator of having a life worth living than we would have thought 20 years ago.
Imagine being so bitter you are lying this much. Wow.