151–160 of 192 posts
Earlier quoted context omitted.
and pay higher taxes.
… and get considerably more for those taxes. When you do the math, the combined federal + state + local tax rate plus health insurance and related expenditures starts to look awfully close to what someone in Denmark gets, except that their services also work better (e.g. nobody has a part-time job fighting their insurance company to and/or hospital to pay the correct amount).
Earlier quoted context omitted.
Big Macs in Denmark are roughly the same price as in the US, but in Denmark you'd make $22/hour...
It's not quite that simple. The US Big Mac [1] has 11% more calories than the Denmark Big Mac [2], which is an 11% difference. Also, the average hourly wage in the US is $31.63 [3] as of January 31st. [1] https://www.mcdonalds.com/us/en-us/product/big-mac.html [2] https://www.myfitnesspal.com/food/calories/mcdonalds-big-mac... [3] https://www.bls.gov/news.release/empsit.b.htm
Earlier quoted context omitted.
Big Macs in Denmark are roughly the same price as in the US, but in Denmark you'd make $22/hour...
and pay higher taxes.
I'm curious how the Hong Kong Dollar can be "undervalued" with respect to the US Dollar by 51.4% when it's pegged 1:7.8 PPP doesn't really mean that a currency is 'undervalued' or 'overvalued' with respect to one another, just that local efficiencies or inefficiencies make procurement of a basket of goods relatively more or less expensive there relative to tradeable goods no?
In general island areas will show an "undervalue" for PPP measures. Hawaii Big Macs are more expensive than Indiana big macs, but that doesn't mean that Hawaiian USD are undervalued to Indiana USD.
Thought it was going to be this one, which I enjoy using a lot and find useful for getting the big picture. https://inflationchart.com/cpi-in-bigmac https://inflationchart.com/spx-in-bigmac In the 70s you could work minimum wage for an hour and afford three Big Macs. Now you have to work almost an hour to afford one Big Mac.: https://inflationchart.com/minwage-in-bigmac
That entire website is a staple of bad economics. The charts you linked are beyond meaningless.
Thought it was going to be this one, which I enjoy using a lot and find useful for getting the big picture. https://inflationchart.com/cpi-in-bigmac https://inflationchart.com/spx-in-bigmac In the 70s you could work minimum wage for an hour and afford three Big Macs. Now you have to work almost an hour to afford one Big Mac.: https://inflationchart.com/minwage-in-bigmac
US Income vs US Cost of Living tells a different story. The income rose 55% more than the cost of living: https://inflationchart.com/income-in-life
This is a very, very important distinction. Right?