Talked to Thornberg

[cyphire]

??? I am talking wages and you are talking per capita GDP. Gross domestic product isn’t median income per worker.

71% of UK families are dual income, 84% of US are.

Median UK salary (per person, not per household!) = 22,500 (pounds) or $43,600

Median US salary $32,000.

Guess I was wrong – the average British citizen makes only 50% more than their US counterparts.

We also work like dogs compared to them, have 2 weeks vacation (if lucky) – I think they get 8 weeks, etc.

Also – just to keep things real – the top 20% of US households got every dollar of wage appreciation since 1975. Thats right – the top 20% got all the money above 1975 levels.

Hard to find these general statistics on the internet – but GDP only shows how wealth the wealthy have become since Reagan and of course how much the gap has dramatically changed since George Bush and his thieving Republicans have had the keys.

Keep up the greed baby!

[PD]

Cyphire, it takes nearly two dollars to equal a British pound. Further, if a Whopper is on the menu for $4 here, it is on the menu for 4 pounds there ($8). When looking at the price of items there, the number seems right, however, you have to mulitply by two to convert to dollars. For an American converting dollars, your daily needs are twice as expensive. Further, the Brits are some of the most highly taxed people on the planet.

They do not make twice as much as we do.

[PD]

Cyphire, it takes nearly two dollars to equal a British pound. Further, if a Whopper is on the menu for $4 here, it is on the menu for 4 pounds there ($8). When looking at the price of items there, the number seems right, however, you have to mulitply by two to convert to dollars. For an American converting dollars, your daily needs are twice as expensive. Further, the Brits are some of the most highly taxed people on the planet.

They do not make twice as much as we do.

[(former)FormerSanDiegan]

I found a source that prices per capita income in both dollars and purchasing power (to try to account for the effect that PD points out).

In both cases the US per capita income is higher than the UK.

Per capita income (US$)
US: 43,560
UK: 37,740

Adjusted for purchasing power
US: 42,000
UK: 33,960

SOURCE:
http://siteresources.worldbank.org/DATASTATISTICS/Resources/GNIPC.pdf

So, the first point is that incomes are actually nominally higher in the US (not lower) AND purchasing power extends that further.

A previous post showed UK median income as higher than the US. How is the median higher than the per capita income ? Please provide a source. If the median is indeed higher it means that there must be much fewer people in the workforce in the UK as a percentage of the population than in the US.
Fewer % of workers pulling the weight means more social programmes, and the associated higher tax burden.

[(former)FormerSanDiegan]

I found a source that prices per capita income in both dollars and purchasing power (to try to account for the effect that PD points out).

In both cases the US per capita income is higher than the UK.

Per capita income (US$)
US: 43,560
UK: 37,740

Adjusted for purchasing power
US: 42,000
UK: 33,960

SOURCE:
http://siteresources.worldbank.org/DATASTATISTICS/Resources/GNIPC.pdf

So, the first point is that incomes are actually nominally higher in the US (not lower) AND purchasing power extends that further.

A previous post showed UK median income as higher than the US. How is the median higher than the per capita income ? Please provide a source. If the median is indeed higher it means that there must be much fewer people in the workforce in the UK as a percentage of the population than in the US.
Fewer % of workers pulling the weight means more social programmes, and the associated higher tax burden.

[5yearwaiter]

Not really prices came down to 2004 level, due to the reason the homeowners still in the dream of to get that level price to their houses. Reality is whoever want to must sell they sure already slipping those 2004 price too. The worst had yet to come.

[5yearwaiter]

Not really prices came down to 2004 level, due to the reason the homeowners still in the dream of to get that level price to their houses. Reality is whoever want to must sell they sure already slipping those 2004 price too. The worst had yet to come.

[Anonymous]

Aw, PD and FSD, you’re being logical. That’s not fair!

Approach this is if you are dealing with a pouty, recalcitrant man-child. And, use your command voice, as the man-child has his hands over his ears and is humming loudly.

cyphire, I’m going to put you in a timeout!

Brits are poor; that’s why they have bad teeth.

[Anonymous]

Aw, PD and FSD, you’re being logical. That’s not fair!

Approach this is if you are dealing with a pouty, recalcitrant man-child. And, use your command voice, as the man-child has his hands over his ears and is humming loudly.

cyphire, I’m going to put you in a timeout!

Brits are poor; that’s why they have bad teeth.

[what_a_disasta]

“Brits are poor; that’s why they have bad teeth.”

Comedy gold!

I think the median income could be higher as per capita would be the mean. That means that there are more poor people in the US than the UK but there are richer people in the US than the UK. Ergo UK is the fairer society.

[what_a_disasta]

“Brits are poor; that’s why they have bad teeth.”

Comedy gold!

I think the median income could be higher as per capita would be the mean. That means that there are more poor people in the US than the UK but there are richer people in the US than the UK. Ergo UK is the fairer society.

[PD]

Ergo UK is the fairer society

Eh… What?  Did you know that the inheritance tax is crushing there?  From memory, I think it is (or used to be) well over 50%.  Many very old families have lost holdings that have been passed down for hundreds of years due to insanely unfair inheritance taxes. 

[PD]

Ergo UK is the fairer society

Eh… What?  Did you know that the inheritance tax is crushing there?  From memory, I think it is (or used to be) well over 50%.  Many very old families have lost holdings that have been passed down for hundreds of years due to insanely unfair inheritance taxes. 

[Anonymous]

And, speaking of Brits (or Welsh) with bad teeth, what a moving video (courtesy of lucianne.com). Special gift this bloke has.

[Anonymous]

And, speaking of Brits (or Welsh) with bad teeth, what a moving video (courtesy of lucianne.com). Special gift this bloke has.

[Author]

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