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0 pointsrsoto29d ago0 comments

Let's use percentage of people below the poverty line ( the actual poverty line is estimated between 97k(single) - 145k(family with children)

Anybody reading hackernews that cares about GDP growth is profoundly misinformed.

https://www.cbsnews.com/news/income-needed-get-ahead-145k-ha...

0 comments

jdietrich9d ago

As a Brit, it seems hilarious that a single person with an income of $97k would be on the poverty line. That's more than double the median income for all households in the UK. A lot of Americans don't seem to realise how fantastically wealthy they are compared to the rest of the world.

https://www.ons.gov.uk/peoplepopulationandcommunity/personal...

sarchertech9d ago

That’s a completely absurd number. No single person making just under $100k a year is living in poverty. Even in a high cost of living area.

The article also repeatedly discussed median salaries, but average costs.

And it includes full time daycare costs for young children that only last for a few years.

Also housing prices are high but you can certainly afford an apartment as a single person making $100k a year. But if you want to save, having a roommate doesn’t mean you are living in poverty.

bombcar9d ago

But they need to pay for college for their non-existent kids!!!

Sometimes these puff-pieces blow my mind.

Avicebron9d ago

It's more than most Americans make by a large margin.

bombcar9d ago

Comparing countries can be relatively pointless because of all the differences. It only matters if you can obtain money in one country and spend it in another.

The main way these numbers are gamed is by finagling with healthcare and post-secondary education, each of which can be as high or as low as you want, depending on what you’re torturing the numbers to confess.

lotsofpulp9d ago

$97k per year isn’t that much when health insurance premiums are $500 to $1,500 per person per month with $5k to $15k annual out of pocket maximums. You have to build up decent savings to ensure you can take care of yourself for when you lose your income.

novaRom9d ago

This doesn't look like too expensive if you compare it with Switzerland or with Germany assuming similar annual income. In Switzerland unlike in US your children stay on your plan until they turn 18, not 26 like in US. In both Germany and Switzerland, health insurance is mandatory and not employer-based - so you cannot simply say "no". In fact, in Germany you pay much more than in US as a share of your income, especially if your income is at least like 30% more than a national median: 1000+ EUR is a minimum per person per month (probably higher today). It doesn't cover dental care - you will pay in full - that's why many people travel to Turkey, or Eastern Europe, or to Baltic countries - just to take some dental care - which is extremely expensive in any German speaking country - we are talking about multiple months of your income after taxes.

paulddraper8d ago

“Not that much” and “living in poverty” are different.

lotsofpulp8d ago

Some people in some countries might consider not having access to healthcare (or worrying about it) as living in poverty.

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jdietrich9d ago

https://www.ons.gov.uk/peoplepopulationandcommunity/personal...

sarchertech9d ago

That’s a completely absurd number. No single person making just under $100k a year is living in poverty. Even in a high cost of living area.

The article also repeatedly discussed median salaries, but average costs.

And it includes full time daycare costs for young children that only last for a few years.

Also housing prices are high but you can certainly afford an apartment as a single person making $100k a year. But if you want to save, having a roommate doesn’t mean you are living in poverty.

bombcar9d ago

But they need to pay for college for their non-existent kids!!!

Sometimes these puff-pieces blow my mind.

Avicebron9d ago

It's more than most Americans make by a large margin.

bombcar9d ago

Comparing countries can be relatively pointless because of all the differences. It only matters if you can obtain money in one country and spend it in another.

lotsofpulp9d ago

novaRom9d ago

paulddraper8d ago

“Not that much” and “living in poverty” are different.

lotsofpulp8d ago

Some people in some countries might consider not having access to healthcare (or worrying about it) as living in poverty.

1 more reply

j / k navigate · click thread line to collapse