Comment on Rich People Are Becoming Less Willing to Help With the World’s Problems
ladel@feddit.uk 14 hours agoMedian post-tax houshold income is £36.7k. Suggesting the amount of people in a high-income houshold is about half, which is still a lot, but not as much as I thought.
Median post-tax household income is £36.7k
Wow that seems low, US median household income is $83k, even with taxes and conversion that seems like a significant gap and I always thought US and UK had similar price levels. Are taxes just that much higher? Or are households smaller ? Or are incomes in the US just that much better?
The wealth of the USA compared to other devoloped countries has shot away over the past 10-15 years, it's not entirely clear why.
Dollar is incredibly strong, because it is a global reserve currency. If you look at purchasing power, the difference in incomes between UK and USA would be much lower.
WALLACE@feddit.uk 13 hours ago
That’s the median disposable income, which is significantly lower than the gross income used and misrepresented in this study.
ladel@feddit.uk 12 hours ago
They (ONS) define disposable income as “the amount of money households have available for spending and saving after direct taxes have been accounted for. It includes earnings from employment, private pensions and investments, as well as cash benefits provided by the state”, so not exactly post-tax income, but £36.7k corresponds to about £48k gross. I completely agree that a couple earning min. wage should not be classed as high income in the UK, but I usually overestimate how much income a typical Brit actually has.