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Wealth & Economics > What is a living wage in the US?

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message 1: by Alex (new)

Alex (asato) Find out here in 2016 numbers. You can even find your county in many states:

http://livingwage.mit.edu/articles/19...


message 2: by Mehreen (new)

Mehreen Ahmed (mehreen2) | 1911 comments CEO's receive an astronomical package. An average Joe next to nothing.


message 3: by GR (new)

GR Oliver | 479 comments Just looked up the AVERAGE world income:

Monthly Wage:
1. Switzerland: $7,396
2. Luxembourg: 5,583
5. USA: $4,893
13. Germany: $3,474
14. UK: $3,461
15. France: $3,374


Annal Wage:
1. Luxembourg: $60,639
2. USA: 58,714
3. Switzerland: 58,389
12. Germany: 44,925
13. UK: 41,384
14. France: 41,252

According to WHO this is the ranking health care in the World:
1. France
2. Italy
16. Luxembourg
18. UK
20. Switzerland
25. Germany
31. USA

As you can see the US has the second largest annual income, and yet it doesn't stand up to the quality standards of life and human care for every citizen. You get more out of your buck in other countries than you do in the US. I know living in Germany, I really don't need health insurance, because I pay out of pocket for my health care, and get reimbursed later by my insurance company. The cost isn't that much compared to the US.

The only thing I don't have an advantage of, is the availability of goods. In the US you can go anywhere and get what you want. I have to use the Internet for that, and it cost much more than it does in the US because of import tax.


message 4: by Philip (new)

Philip (phenweb) | 2799 comments Mehreen wrote: "CEO's receive an astronomical package. An average Joe next to nothing."

Hence some of the trends we have seen politically recently. Not sure what a Billionaire will do about it in the USA. The poverty/wealth disparity has increased - from Oxfam

"The combined wealth of the richest 1 per cent will overtake that of the other 99 per cent of people next year unless the current trend of rising inequality is checked..."

That's 1% of the world's population, 70 million, against the rest of the 630 Billion. Good news if you are one of the 1%. Average CEO earnings and other executives now have massive differentials to the majority of their workers. I have seen 200x quoted compared to 10-20x of fifty years ago.

This is not a plea for communism just a thought that maybe the rich are creating a crisis which is visible in economic migration (Including illegal immigration) and disaffection for the ruling class.


message 5: by Nik (new)

Nik Krasno | 12916 comments In my understanding of basics - working couple should be able to finance reasonable family's expenses. There need to be some correlation between earnings and cost of living....


message 6: by GR (new)

GR Oliver | 479 comments Back in the 1940s, a month's wage broke down to the following (as I remember):
One Fourth for FOOD.
One Fourth for MORTGAGE.
One Fourth for EXPENSES: car, utilities, etc.
One Fourth for the BANK.

And that was ONE INCOME. It ain't that way no more! What happened?


message 7: by Nihar (new)

Nihar Suthar (niharsuthar) | 38 comments Wow, I actually thought the US average wage was lower. I'm sure $58,000 isn't much for a entire family of 3 or 4, but I think that money can still go somewhat far in a smaller town or rural area.

-Nihar
www.niharsuthar.com


message 8: by Nik (new)

Nik Krasno | 12916 comments Nihar wrote: "Wow, I actually thought the US average wage was lower. I'm sure $58,000 isn't much for a entire family of 3 or 4, but I think that money can still go somewhat far in a smaller town or rural area.

..."


The catch is that the salaries are lower where the life is cheaper and vice versa -:) Which also proves the need for correlation, it's just the balance seems to be off.


message 9: by Mehreen (new)

Mehreen Ahmed (mehreen2) | 1911 comments Philip wrote: "Mehreen wrote: "CEO's receive an astronomical package. An average Joe next to nothing."

Hence some of the trends we have seen politically recently. Not sure what a Billionaire will do about it in ..."


Oh no. I absolutely understand no plea for communism. But sale salaries are downright vulgar where others are peanuts.


message 10: by GR (last edited Jan 30, 2017 10:52PM) (new)

GR Oliver | 479 comments Nihar wrote: "Wow, I actually thought the US average wage was lower. I'm sure $58,000 isn't much for a entire family of 3 or 4, but I think that money can still go somewhat far in a smaller town or rural area.

..."


It was a stand of your income power, and what you could buy. A good wage at that time was $100 a week. The average house in 1950 was around 10-15K dollars. Our first house cost $5000 in 1943.


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