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You're not disagreeing with my comment? Yes, America is very rich and a lot of Americans do well. But since you posted these links, it's fair to note that they
by runako 6y ago
You're not disagreeing with my comment? Yes, America is very rich and a lot of Americans do well.
But since you posted these links, it's fair to note that they don't rebut some of the common critiques of American wealth:
- the OECD wealth figures apply to the average, not median, American. Our wealth is very unevenly distributed, so our average is not a good measure. (Also the $182k figure in the OECD doc is nearly double the $104k US Census counted[1].)
- as widely documented elsewhere, American finances are much more precarious due to the design of our labor markets, social safety net, and (especially) healthcare system. Americans in general have more of their financial security at risk at all times than EU residents. And we have to save for more big expenses (like college) than residents of other countries. So having more wealth does not directly translate into more financial security.
1 - https://www.census.gov/data/tables/2017/demo/wealth/wealth-asset-ownership.html https://www.census.gov/data/tables/2017/demo/wealth/wealth-a...