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One thing I realized over time America is very expensive to live in. Everything is so expensive that only the rich are rich and everyone from middle class and d
by yalogin 6mo ago
One thing I realized over time America is very expensive to live in. Everything is so expensive that only the rich are rich and everyone from middle class and down are on the poor spectrum. It’s done purposefully under the cover of freedom, choice and taxes. It’s impossible to change now at least I am very pessimistic about it. It doesn’t help that the population density is very low and so many of the services just don’t have the ROI they do in other countries.
- jerlam 6mo agoThis is why GDP isn't a good measurement of the wealth of citizens. Americans get paid more but also pay more for things. Even if we assume the two perfectly cancel each other out, the net result is the same, but GDP is higher.
- globular-toast 6mo agoGDP is not and never has been a measure of wealth. It's a measure of a country's output. Higher GDP could just mean you're working longer and harder.
- hunterpayne 6mo agoWhich is why we also publish a median (50th percentile) per capita (per person) number too. And its a measure of income, not wealth.
- JALTU 6mo agoYes! And I recommend a post about "The Wealth Ladder" by Nick Maggiulli. A concept I love because I relate is the idea of how we are conscious about how much we spend on things, or we are not. Do you count the cost of a daily lunch vs. dining out at an "expensive" restaurant where you bought three glasses of wine? Does it even matter that you eat out, do you count the cost? Great food for thought about one's attitude towards wealth: https://ofdollarsanddata.com/climbing-the-wealth-ladder/ https://ofdollarsanddata.com/climbing-the-wealth-ladder/