Observations on life

How does your income measure up world-wide?

Turns out most Americans are doing quite well when compared with the rest of the world measured by both income and wealth. It would do well for the anti-capitalism crowd to keep that in mind. 

To be in the 1% world-wide, your annual income needs to be $32,400 and to be at the median of wealth you need $53,352. Even to reach the top percentile in total wealth in the world, you only need $770,000, including the net value of your home. Americans would rank even higher in wealth if it were not for their fascination with buying on credit. 

Source: investopedia 

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2 replies »

  1. Lies, Damned Lies and Statistics. What your numbers do not tell is we pay the highest price for drugs, cars, homes,college education and many other things that are much cheaper in other countries. Credit has been used by many over the last 40 years to maintain the illusion of a middle class standard of living. When I first started working in 1974 most people used credit to purchase a new car or house. Because prices were much lower they paid cash for everything else. I lived better on $8,100 per year in 1980 than I live on $19,644, but I am retired, so my income is limited by choice. I just think it is much harder for people just entering the workforce out of high school than it was in 1974. I still think the U.S. is the best country to live in, but it has become harder for people to recover if they have a job loss or medical problem like cancer.

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  2. Great, if BS figures this out then he can tax almost everybody in the USA for being in the top 1%. Just think what he could promise.

    Also if BS’s new middle class are those who make minimum wage, how does he explain that they are in the top 5% of the world’s wage earners? He will be force to take their money and re-distribute it to the rest of the world.

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