Americans Now Need at Least $500k a Year to Enter Top 1%

Re:Americans Now Need at Least $500k a Year to Enter Top 1% by dudul on Wednesday October 16, 2019 @07:47PM (#21277396)

As usual, nationwide statistics always seem kind of dumb. OK, I'm only in the 5th percentile, but I live in a very rural area, in a state with very low taxes where real estate is still reasonable. So yeah, I'm not in the 1%, but I bet my buying power is at least on par with a 1% living in NYC, SF, etc.

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by AceJohnny2 on Wednesday October 16, 2019 @08:25PM (#21277689)

A friend worked in the national statistics org in France (INSEE). There were internal fights about separating statistics about Paris (stupid expensive, lots of growth) vs the rest of France (not expensive, slow growth). The unifiers won, unfortunately.

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by user5994461 on Wednesday October 16, 2019 @08:35PM (#21277763)

Same thing with London vs the UK.

There is so much difference between some capitals and their countryside nowadays, they could be different countries.

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by AceJohnny2 on Wednesday October 16, 2019 @08:23PM (#21277680)

Indeed.

I had high hopes that the advent of the Internet would allow me to go live in cheap places and still earn a comfortable income from top-tier companies.

But silly me, I work in embedded, where being close to the hardware you're developing is practically mandatory :p

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by peakay on Wednesday October 16, 2019 @07:58PM (#21277484)

what does buying power mean? like, you're able to buy some house on your not 1% salary in your rural area, and a person on a 1% salary in nyc/sf could not buy an equivalently nice house?

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by dudul on Wednesday October 16, 2019 @08:02PM (#21277536)

"buying power. the ability to purchase goods and services" (https://www.dictionary.com/browse/buying-power)

So yes. With a lower salary in a specific area, I can probably buy the same goods and services as someone with a higher salary in a different area.

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by justanotheratom on Wednesday October 16, 2019 @07:48PM (#21277405)

Next thing, you will claim your stress level is lower .. jk

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Re:Americans Now Need at Least $500k a Year to Enter Top 1% by dudul on Wednesday October 16, 2019 @07:51PM (#21277429)

Nah I won't go there, I'm always stressing about things :) That's why I need to be surrounded by trees!

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