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View Diary: Income inequality is worse in the U.S. than Egypt (99 comments)

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  •  We only look good compared to the poorest. (0+ / 0-)
    Try comparing the average American to the average European.  While they have had riots in England over tuition hikes, even the poorest can still go to college if they have the smarts to get in.  You don't have what happens with a lot of poor kids in this country, an SAT good enough to get into college, but not high enough to get a full ride scholarship, so all they have is another broken dream.  Of course, someone will certainly hold up some 1 in 10,000 inner-city hoopster who gets a full ride out of the ghetto on his superior ball handling skills as proof that the American Dream is alive.  While my peers in Europe are looking forward to modestly comfortable retirements at around 65, I need to figure out how I can keep my gimpy body liming along as long as I can, because I will have nothing besides social security to retire on, thanks to the Banksters converting all my savings into bonuses.

    Sarah Palin's greatest desire is to make sure that George Bush does not go down in history as our worst President.

    by rhonan on Sun Feb 06, 2011 at 11:34:03 AM PST

    [ Parent ]

    •  How to keep score... (0+ / 0-)

      Depending where you look and the dates used, US incomes are around 30% higher than in England.  That's a huge difference and more than enough to justify (what I agree is an outrageous and excessive amount for a) college education.  There are a few countries that have higher incomes than the US, but more in Europe do not.

      Plus, England is getting crushed by its debt.  They have something like 170k of debt per person while we only have 40k.  With higher incomes, we have a much better chance to manage our debt.

      You also have to consider that England, and many places in Europe, have a VAT tax in the teens.  In the US, the bottom 50% don't pay much in federal income/sales taxes.  In fact, many get cash back from refundable credits.

      That's why our houses, cars and TVs are bigger than those in England.  We're richer.

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