4 ms·
Not at the US cost of living. Nor would those billions of people be paid a that rate if their cost of living is lower than the US.
by pkaye 7y ago
Not at the US cost of living. Nor would those billions of people be paid a that rate if their cost of living is lower than the US.
- georgespencer 7y agoI think it's quite likely, but unknowable, that folks would accept the income:cost of living ratio of the US if it came with the associated sociological benefits. I think you're underestimating how disproportionately impoverished many people around the world are.
- geodel 7y agoWell people here keep ranting about 1 percenters without ever realizing that >$100K earners are among one percenters in the world.
- georgespencer 7y agoYou're right that a few people do, although I think most people realise how deeply fortunate we all are to have won to at least some extent a genetic and [entirely separate] geographic lottery.
- mamon 7y agoActually, the threshold to be in top 1% income bracket worldwide is $32,400 https://www.investopedia.com/articles/personal-finance/050615/are-you-top-one-percent-world.asp https://www.investopedia.com/articles/personal-finance/05061...
- zjaffee 7y agoThis number is both old and in nominal terms. A person making 50k USD in China is likely richer than a person in the US making 100k USD in the US. http://pubdocs.worldbank.org/en/771271476908686029/Segal.pdf http://pubdocs.worldbank.org/en/771271476908686029/Segal.pdf suggests that the number to be in the global 1% is around $50,000 PPP per person in a given household.
- mensetmanusman 7y agoExcept that the Chinese person is a prisoner in their own country, and the American could move to China to have a higher quality of life outside of the polluted cities.