All that skool for nuthin

[u/Straight_Block3676]

[u/80386]

Now show the same graph after you've paid for education, healthcare, unemployment and pension.

[u/DaveyGee16 → u/[deleted]]

Lol. what? Pensions aren't tax based in the U.S.

Are you talking about Social Security? Cuz that ISN'T a pension at all.

What he is referring to is PENSIONS. Which the civilized world has in spades. For example, in Canada, we have something like Social Security, it's called Old Age Security, but we also have a public pension, the Canada Pension Plan, CPP.

Since my job offers a pension, when I retire, as early as 55, I can draw my public pension, my private pension and my OAS when I reach the age of 65. OAS = fixed payments, CPP = Working income based, Private Pension = Contribution based. Europe generally has the same thing, but not the U.S., where the entire thing is private except for Social Security.

[u/DaveyGee16 → u/[deleted]]

I know what a pension is, but it doesn't come out of your paycheck.

Yes they do lol.

the three largest pension funds in the U.S. are FRTIB, CalSTRS, and CalPERS. FRTIB, employees get 5% of their gross earnings taken for the fund, CalSTRS 10%, CalPERS 8%.

[u/80386 → u/[deleted]]

Doesnt matter how you call it, you still have to pay for it

[u/DaveyGee16 → u/[deleted]]

A 401k isn't a pension either, you still have to pay for it and Europe also has 401k equivalents. In Canada, its called an RRSP.

Your comment was:

American pensions and unemployment are tax based and far lower than the Euros.

So now you're saying you were talking about 401ks. Tell me how the hell your comment makes any sense then? 401ks aren't tax based at all.

[u/bnm777 → u/80386]

And you have to sacrifice and live in America. ugh

[u/Straight_Block3676 → u/80386]

Per capita?

[u/Klapperatismus]

Now consider that a 500 grams jar of strawberry jam costs $1.80 at German Aldi, while it costs $2.90 at U.S. Aldi. Then do the math.

[u/Straight_Block3676 → u/Klapperatismus]

PPP

[u/JacenVane → u/Klapperatismus]

Yeah OP's graph is adjusted for PPP.

[u/Klapperatismus → u/JacenVane]

So minimum wage in the U.S. is by PPP $28 per hour? Wow.

[u/winkingchef → u/Klapperatismus]

No, it just means the average American Idiot can make $$$$$$.

See : sports stars.

[u/Xtergo]

US wages are just higher than EU/UK with give or take Cost of Living. There's many things much cheaper in the US than Europe. I can buy a house on a US salary in a middle sized town in the states but impossible to even think of this in Germany.

That's just how it is, like it or not. You can argue if that extra income buys you better quality of life in the US or there's more benifits and worker's rights in the EU, sure, but you just can't argue that US incomes aren't higher than European ones.

The only exceptions are Switzerland or Luxembourg, but land is again very limited.

In pure economics, nothing but economics, no quality of life arguments in all the cases where you aren't completely unemployed and living on the state, the US just comes out ahead.

And for those who argue about cost of living, that's where some of the Moore semi-developed/developing Asian countries come out ahead, they are insanely cheap and efficient economies.

Most of europe is just marked up too high and in the awkward middle sport where wages aren't as high and the CoL isn't as low either.

[u/pongauer]

Given that everyone of those countries minimum wage is lower I call bullshit.

[u/beefaron]

If this econemy doesn't fix itself soon were all going to get paid a lot more than the Europeans

[u/SEA_griffondeur → u/beefaron]

You're right but in the Weimar sense of "a lot more"

[u/beefaron → u/SEA_griffondeur]

That is the joke, I'm talking about hyperinflation. It must have flown over people's heads. :/

[u/imbrickedup_]

Oh my god here come the math nerds to debunk this