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So basically, it sounds more like real poverty threshold. Here in Cyprus, it must logically be near that of Italy because per capita GDP, climate and culture ar
by anovikov 7y ago
So basically, it sounds more like real poverty threshold. Here in Cyprus, it must logically be near that of Italy because per capita GDP, climate and culture are similar, so round $180K, and PPP correction factor is about 0.65, so like $120K a year... really, pre-tax, ugh... is that rich?
I can't see how someone making $120K pre-tax here can buy a good new car (well, simplest sure, but not what's considered good here - starting from BMW 5-series) or their own place, apart from cheap, cold, moldy apartments.
Essentially it's the level where one stops worrying about grocery prices or stops picking economy class tickets based on price, starting to consider convenient times etc. Are people really that poor? Only people i know who make that much or less, are employees, and they live hand to mouth, unable to afford heating their crappy rental places in the winter, and driving 15-year old, clapped out cars.
This place is full of apartment blocks where a single bedroom is $1M+. I really don't trust these metrics, $120K must be just above median for a household and maybe at top 20-25% for a single earner, and top 1% should be at least $500K, that is what should give you "able to buy a good new car and own apartment which is not a shame to invite people to" living standard.
I think i know one person who makes more than half of her income officially. Even not sure about her. I guess it's that - people just make vast majority of their earnings under the table. Official salary? sure, it's in line with this data, some like 1700 EUR a month median. Show me a person who actually lives on it.
And "sharks of capitalism" that people can blame for their problems - who are able to bend the rules in their favors by bribes and connections, and otherwise "oppress" someone - do exist, i know a couple of them... but they don't make on that laughable "rich" level. They make millions of euros. Per month.