US takes 'richest nation on earth' crown from Switzerland

Re:US takes 'richest nation on earth' crown from Switzerland by swebs on Friday September 20, 2019 @05:54AM (#21024931)

For some perspective Bulgaria, an EU member state, has a population of 7 million and an average salary of around $700 per month, or $8,400 per year. That would put you way below the poverty line in the USA.

Minimum wage in Texas is $7.25 an hour. A full-time minimum wage worker in Texas can surpass the average Bulgarian's monthly wage in under 2.5 weeks.

And that's just the average wage. More than half of the 7 million residents live below that. For every cherry picked colony in Texas, there's several even poorer villages in the post-Soviet states to cancel it out.

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Re:US takes 'richest nation on earth' crown from Switzerland by joaobatista on Friday September 20, 2019 @08:06AM (#21025709)

That is in pure $$. According to wikipedia, the PPP according is $24,485. There is 80-90% house ownership. Income tax is 10%. It's hard to make a reasonable comparison like that.

Another example is Czech Republic, which has the lowest poverty rate in EU - under 10% before Finland and Netherlands. And yet it's way after them in the wealth list.

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