Re:Americans Hold Over $4.1T in Consumer Debt
by IshKebab on Sunday February 26, 2017 @11:11AM
(#13737884)
Does America really have low wages? Granted, the lack of a minimum wage is crazy, but the median household income is $56k. Compare that to £23k in the UK.
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Re:Americans Hold Over $4.1T in Consumer Debt
by aaronblohowiak on Sunday February 26, 2017 @12:00PM
(#13738211)
You are comparing pre-tax income (USA) and post-tax (UK)! You also mixed your units. TO use net-adjusted disposable income, USA has 41k USD and UK 28k USD. Also, you'd need to adjust for the benefits you get from your government/employer (Health insurance) for a fair comparison. While American workers earn more than UK workers, that does not necessarily imply that the total cost of employment for UK employers is lower than total cost of employment for USA employers. I don't have that data handy.
Re:Americans Hold Over $4.1T in Consumer Debt
by bdcravens on Sunday February 26, 2017 @03:07PM
(#13739495)
> you'd need to adjust for the benefits you get from your government/employer (Health insurance) for a fair comparison
Indeed. My out of pocket for medical care this year is $19k (and that's with one of the "gold" plans)
Re:Americans Hold Over $4.1T in Consumer Debt
by angry-hacker on Sunday February 26, 2017 @05:10PM
(#13740279)
But how much is it compared to your salary? I pay 33% of my income just for Healthcare. Or well, government just takes it :)
Re:Americans Hold Over $4.1T in Consumer Debt
by bdcravens on Sunday February 26, 2017 @05:41PM
(#13740445)
I won't give exact numbers, but somewhere between 10% and 33%. :-)
But for a typical developer, that would be in the neighborhood of 20%.
Re:Americans Hold Over $4.1T in Consumer Debt
by IshKebab on Monday February 27, 2017 @04:20AM
(#13742953)
Where? UK is 0-10% of taxable pay depending on how much you earn.
Re:Americans Hold Over $4.1T in Consumer Debt
by maxxxxx on Sunday February 26, 2017 @11:28AM
(#13738008)
A lot of people don't have guaranteed retirement benefits, education is expensive and sickness can cost you a lot of money any time. When things go well you can live well in the US but things can go bad quickly.
Re:Americans Hold Over $4.1T in Consumer Debt
by adventured on Sunday February 26, 2017 @01:47PM
(#13738905)
That's also true in many other developed nations in regards to education, such as Canada, Japan and Britain, which have between moderately and very expensive education systems. Britain for example now has arguably the most expensive university costs:
https://www.theguardian.com/education/2015/nov/24/uk-has-hig...
"Britain has the world’s most expensive public university tuition fees, surpassing the average in US equivalent institutions. While student fees can be higher at many ivy league and other top colleges, the £9,000 annual charge for attending an English institution pushed the British average above the US’s public colleges for the first time, the Organisation for Economic Cooperation and Development said."
http://www.ft.com/intl/cms/s/0/62a1d4e0-9213-11e5-bd82-c1fb8...
Re:Americans Hold Over $4.1T in Consumer Debt
by tzakrajs on Sunday February 26, 2017 @11:22AM
(#13737968)
Are suggesting that the US does not have a minimum wage?
Re:Americans Hold Over $4.1T in Consumer Debt
by IshKebab on Monday February 27, 2017 @03:49AM
(#13742853)
I assumed so given all the comments I've read about people getting paid $2/hour. I stand corrected!
Re:Americans Hold Over $4.1T in Consumer Debt
by mcguire on Monday February 27, 2017 @01:02PM
(#13746268)
It is minimal, though: $7.25/hr federally.
Re:Americans Hold Over $4.1T in Consumer Debt
by psyc on Sunday February 26, 2017 @07:50PM
(#13741026)
Wages aren't doing so hot vs cost of living, and they're quite bad vs productivity. If we're better off than other developed nations, that's a dubious consolation.
Re:Americans Hold Over $4.1T in Consumer Debt
by MomentarySanity on Sunday February 26, 2017 @05:06PM
(#13740246)
We have a minimum wage. It's $7.25/hr at the Federal level, so that's the baseline.
Re:Americans Hold Over $4.1T in Consumer Debt
by tradersam on Sunday February 26, 2017 @08:45PM
(#13741246)
I don't know why you're being downvoted, this is accurate.
Re:Americans Hold Over $4.1T in Consumer Debt
by narrowrail on Monday February 27, 2017 @04:07AM
(#13742913)
The idea that this was ever downvoted at all is very strange. What is happening to HN?