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The UK is Poorer Than Every US State

slo1
Posts: 4,350
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9/2/2014 8:08:45 AM
Posted: 2 years ago
That is nice, but there is one problem I really have with this and all economics. It assumes that richer = better.

If we want' higher GDP, lets just get rid of all corporate taxes and only keep the portion of government dealing with the rule of law so businesses have a stable environment. Our GDP would shoot sky high, but does that mean we would be better off as a whole?

PS: Doesn't it say something that the lower 10% of the Nordic country they compared to the lower 10% in the US are virtually equal. If the US is richer, why shouldn't our poor be richer than theirs?
Material_Girl
Posts: 264
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9/7/2014 1:51:06 PM
Posted: 2 years ago
So? We have the NHS and it's awesome.
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Gump
Posts: 67
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9/7/2014 10:09:12 PM
Posted: 2 years ago
A down syndrome UK citizen has more knowledge than the above average American citizen. An American couldn't even tell you where Kentucky Fried Chicken originated, Americans don't even know what country they gained independence from!
suttichart.denpruektham
Posts: 1,115
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9/9/2014 11:56:25 AM
Posted: 2 years ago
At 8/28/2014 4:38:41 PM, Wallstreetatheist wrote:
Even Alabama and Mississippi.
http://www.forbes.com...

Inb4 it's due to their horrible government spending [http://www.heritage.org...]

that's a funny way to look at the maths, by that definition Singapore would be one of the poorest nation in South East Asia, even poorer than Philippine...
Wallstreetatheist
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9/14/2014 8:57:29 PM
Posted: 2 years ago
At 9/9/2014 11:56:25 AM, suttichart.denpruektham wrote:
At 8/28/2014 4:38:41 PM, Wallstreetatheist wrote:
Even Alabama and Mississippi.
http://www.forbes.com...

Inb4 it's due to their horrible government spending [http://www.heritage.org...]

that's a funny way to look at the maths, by that definition Singapore would be one of the poorest nation in South East Asia, even poorer than Philippine...

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suttichart.denpruektham
Posts: 1,115
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9/14/2014 11:50:46 PM
Posted: 2 years ago
At 9/14/2014 8:57:29 PM, Wallstreetatheist wrote:
At 9/9/2014 11:56:25 AM, suttichart.denpruektham wrote:
At 8/28/2014 4:38:41 PM, Wallstreetatheist wrote:
Even Alabama and Mississippi.
http://www.forbes.com...

Inb4 it's due to their horrible government spending [http://www.heritage.org...]

that's a funny way to look at the maths, by that definition Singapore would be one of the poorest nation in South East Asia, even poorer than Philippine...

k http://bit.ly...

So ?
donald.keller
Posts: 3,709
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9/16/2014 10:54:12 PM
Posted: 2 years ago
At 9/7/2014 1:51:06 PM, Material_Girl wrote:
So? We have the NHS and it's awesome.

Hardly... The NHS is in major debt, and has poor efficiency. Here, we have the Emergency Room... It's typically free, and has no waiting list.
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v3nesl
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9/17/2014 9:42:15 AM
Posted: 2 years ago
At 9/16/2014 10:54:12 PM, donald.keller wrote:
At 9/7/2014 1:51:06 PM, Material_Girl wrote:
So? We have the NHS and it's awesome.

Hardly... The NHS is in major debt, and has poor efficiency. Here, we have the Emergency Room... It's typically free, and has no waiting list.

And the thing that's scary, for the whole planet: The US market has subsidized global health care by providing a market that can support research. It's part of why we pay more: We subsidize the price controlling countries. And when we inevitably go single payer there will be no other market to support gigabuck research projects. Progress will stall, on a global scale. No, of course it won't stall altogether, but the sad thing is, we'll never know about the treatments that never get developed. Eventually the east will pick up the slack (read: China) but that will take a generation or so. Maybe by then America will be unwinding the disaster we are now barging ahead with.
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donald.keller
Posts: 3,709
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9/17/2014 4:02:54 PM
Posted: 2 years ago
At 9/17/2014 9:42:15 AM, v3nesl wrote:
At 9/16/2014 10:54:12 PM, donald.keller wrote:
At 9/7/2014 1:51:06 PM, Material_Girl wrote:
So? We have the NHS and it's awesome.

Hardly... The NHS is in major debt, and has poor efficiency. Here, we have the Emergency Room... It's typically free, and has no waiting list.

And the thing that's scary, for the whole planet: The US market has subsidized global health care by providing a market that can support research. It's part of why we pay more: We subsidize the price controlling countries. And when we inevitably go single payer there will be no other market to support gigabuck research projects. Progress will stall, on a global scale. No, of course it won't stall altogether, but the sad thing is, we'll never know about the treatments that never get developed. Eventually the east will pick up the slack (read: China) but that will take a generation or so. Maybe by then America will be unwinding the disaster we are now barging ahead with.

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YamaVonKarma
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9/17/2014 4:08:05 PM
Posted: 2 years ago
At 9/7/2014 10:09:12 PM, Gump wrote:
A down syndrome UK citizen has more knowledge than the above average American citizen. An American couldn't even tell you where Kentucky Fried Chicken originated, Americans don't even know what country they gained independence from!

This is a lot of nationalism.
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Zylorarchy
Posts: 209
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9/17/2014 4:24:17 PM
Posted: 2 years ago
Not a huge surprise really. Though wealth is not everything, far from it.
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Wallstreetatheist
Posts: 7,132
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9/17/2014 7:46:03 PM
Posted: 2 years ago
At 9/17/2014 4:24:17 PM, Zylorarchy wrote:
Not a huge surprise really. Though wealth is not everything, far from it.

It's a good indicator for human well-being. Having enough money to afford water, food, housing, a few fun activities, recreational drugs, and events that I experience makes me happier than when I was really impoverished.

The most in-depth research on income finds that happiness increases up to $80,000/year, at which point diminishing returns kick in.
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darkkermit
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9/17/2014 7:58:22 PM
Posted: 2 years ago
At 9/17/2014 7:46:03 PM, Wallstreetatheist wrote:
At 9/17/2014 4:24:17 PM, Zylorarchy wrote:
Not a huge surprise really. Though wealth is not everything, far from it.

It's a good indicator for human well-being. Having enough money to afford water, food, housing, a few fun activities, recreational drugs, and events that I experience makes me happier than when I was really impoverished.

The most in-depth research on income finds that happiness increases up to $80,000/year, at which point diminishing returns kick in.

There's a simpler way to reduce the cost of recreational drugs besides boosting economic growth.

I'd say a lot of the effects on happiness though due to high salaries is due to comparing yourself's to others rather than the actual income.
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Zylorarchy
Posts: 209
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9/18/2014 2:21:01 AM
Posted: 2 years ago
At 9/17/2014 7:46:03 PM, Wallstreetatheist wrote:
At 9/17/2014 4:24:17 PM, Zylorarchy wrote:
Not a huge surprise really. Though wealth is not everything, far from it.

It's a good indicator for human well-being. Having enough money to afford water, food, housing, a few fun activities, recreational drugs, and events that I experience makes me happier than when I was really impoverished.

The most in-depth research on income finds that happiness increases up to $80,000/year, at which point diminishing returns kick in.

I think even if the UK was richer than the entirety of America, Britons still would not be happier than Americans. America personifies optimism, Britain personifies pessimism. Forgive me though, but in all honesty... I can hardly imagine that even poorer Britain has a worse quality of life than the poorest US states. Especially when China is one of the richest countries in the world and yet most of the population is poor.

Although yes, the richer states, I can easily imagine having a quality of life that surpass Britain's.
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"True freedom is not simply left or right. It is the ability to know when a law is needed, but more importantly, know when one is not"