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.
Comment on Rich People Are Becoming Less Willing to Help With the World’s Problems
Not_mikey@lemmy.dbzer0.com 3 months agoMedian 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?
Womble@piefed.world 3 months ago
Collatz_problem@hexbear.net 3 months ago
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.
tankplanker@lemmy.world 3 months ago
Are you accounting for everything that’s included in UK taxation such as health care and state pension?
Not_mikey@lemmy.dbzer0.com 3 months ago
We’re talking about median, and the median person in the US gets employer provided healthcare and usually some form of employer pension/401k contribution plus social security, so I don’t think those would be much different cost wise for a median US vs UK resident. I’m sure Britain uses there taxes better than us and has better benefits, especially for the poor, but I don’t think that fully accounts for the gap.
tankplanker@lemmy.world 3 months ago
So they don’t pay a penny towards those costs? For the median? As thats a lot of people.
As its entirely wrapped in the tax already accounted for in that net income with the UK tax payer.
I wasn’t expecting it to be the whole difference but I do know those that have to pay in the US pay a significant chunk of change.