Interesting unverified statistic- if you earn more than $30k USD annually
- Thread starter GON
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I can see that if you have free rent and don’t eat out
This.
1 USD has a different value depending on where you are. You can probably live like a king with 20 mistresses if you make 30K in a warzone in Africa, and eat steaks every night. The only value money has is distribution of assets and services. If you cannot move your assets and services across locations then the price will be different. A home in my city would be way higher than the same one in New Mexico because the job pays more here, etc. Sure you can transport a car around to balance the market price, but you can't do that to a house.
The problem with these comparison between nations is that you won't make high income living in low cost of living area. Employers and customers won't pay you the same as high cost of living areas.
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GON
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My assumption from the unverified quote was the American standard of living, even at $30k USD, was higher than 99 percent of the people in the world.
Well first your math is off, because 1% of the worlds population is 80M, so if you had $30K annual income you definitely would not be in the top 25% of even the United States. The top 25% of US citizens would be pretty much 1% of world population, and that demographic starts around $100K/ year.
Second, its all about context. Would I be better off being in the bottom 20% of income earners in the USA, vs say the top 50% of income earners in Spain, Italy, Greece, Costa Rica, etc. I think this is debatable.
The point of this statement is that US citizens are generally pretty well off compared to most of the world. Realize of course half the world's population lives in absolute squalor - so this is another one of those data-sets that really isn't reasonable to make such comparisons.
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My buddy will be glad to hear this. Whenever I “complain” or “whine” about my job, he says, how would you like to trade checks?
He told me his got a perfect rating which meant 2.x% merit increase and he told me how much and go ahead and calculate my hourly. It turned out to be $18.75/hr which I guess puts him into the top 1/2 of 1% worldwide.
https://www.pewresearch.org/short-r...le-class-find-out-with-our-income-calculator/
Done during COVID but perhaps still relevant.
Done during COVID but perhaps still relevant.
PPP (Purchasing Power Parity) has entered the chat.
GON
$150 Site Donor 2025
I
The discussion point is the spirit and intent of what the quote theorizes. As you capture when you stated: "The point of this statement is that US citizens are generally pretty well off compared to most of the world."
It wasn't my math.
The discussion point is the spirit and intent of what the quote theorizes. As you capture when you stated: "The point of this statement is that US citizens are generally pretty well off compared to most of the world."
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I was about to say that.
GON
$150 Site Donor 2025
PPP in itself is subject to interpretation.
In third world and developing countries, even personal hygiene items that meet western world standards retail at or often more that what is priced in the western world. When working in third world or developing nations, I always stock up on deodorant, toothpaste, dental floss, etc--- as I know I will pay significantly more "on the local economy" for western quality personal hygiene items than I will pay for in the western world/ U.S.
Isn't the bottom 20% in the US is either unemployed, or working 60+ hours at 3 part time jobs just keep a roof overhead in a not great neighborhood, no vacations, kids at an underfunded school? Probably not much if any health insurance either?
I would say there is no comparison between the top half income earners in the countries you listed vs the bottom 20% in the US?
The family in the EU even at just the average income, is living pretty well compared to that, no worries if junior breaks his arm, and he can go to a good university almost for free if he earns his spot. They probably only have one small vehicle, but they aren't spending 10 hrs a week in it either. They have 4-5 weeks off paid vacation.
I think the US and Canada are great to live in, if you are in the top third income, just like everywhere, but probably not the best at the lower third compared to the EU.
The comparison is being made by the original statement - because that is what the numbers imply. $30K in the US puts you in the bottom quintile in the USA - the bottom 20%. So by outright definition your at minimum worse off than 4% of the worlds population in the USA alone.
So I think your arguing with me, but we agree? That was my point.
More sleuthing.
As mentioned, in the USA 240M people would make more than you.
Eurozone median income is well above $30K - so lets call that half of 350M, so 175M
China median income is above $30K. So lets call that also at least half so 700M.
So already, I am at about 1.1B out of 8B total so already 14% make more than you. Without even touching cost of living.
As mentioned, in the USA 240M people would make more than you.
Eurozone median income is well above $30K - so lets call that half of 350M, so 175M
China median income is above $30K. So lets call that also at least half so 700M.
So already, I am at about 1.1B out of 8B total so already 14% make more than you. Without even touching cost of living.
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This.
Comparing the US to a lot of the world's nations based upon income is very much an apples to oranges comparison.
Very low cost good healthcare and very inexpensive post secondary education are things we don't have in our country, nor do we have well developed urban transit systems or walkable cities, not to mention plenty of PTO. Our infrastructure from highways to airports is also substandard as compared to most of the developed world.
There are advantages enjoyed in most of the developed world that we lack here.
This is not a rap on our country either. We can always crib policies from the examples of others, although we seem not to like doing so.
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