SvennoJ said:
That was kind of my point. You can present the data to show almost anything you want. Most countries are too different to make direct comparisons. Different neccesities and services have vastly different prices with huge differences in social welfare. Living off $22k a year in the US with kids can be quite a challenge, In Bulgaria you're might be well off with that.
Anyway income equality is still rising. As long as the bottom is benefitting too that's not too big of a problem, yet it seems the middle class is getting a harder time instead. Top and bottem 10% is one measurement, how is the rest of the distribution.
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http://www.pewstates.org/uploadedFiles/PCS_Assets/2012/Pursuing_American_Dream.pdf (2012)
Ninety-three percent of Americans whose parents were in the bottom fifth of the income ladder and 88 percent of those whose parents were in the middle quintile exceed their parents’ family income as adults.
Eighty-four percent of Americans have higher family incomes than their parents had at the same age, and across all levels of the income distribution, this generation is doing better than the one that came before it
Fifty percent of Americans have greater wealth than their parents did at the same age
The middle quintile has the second most people with higher family incomes than their parents at the same age (the most being the bottom quintile 93% and the least being the top quintile - 70%)
Why do more Americans experience upward absolute mobility than upward relative mobility?
The rungs of the income ladder have widened during the past generation, reflecting economic growth at all levels, but especially at the top. Median income in the bottom income quintile increased by 74 percent between the two generations, compared with 126 percent in the top income quintile (see Figure 4). The difference between the size of the rungs between the two generations means that while the vast majority of Americans exceeded their parents’ family incomes, the extent of that increase—particularly at the bottom—was not always enough to move them to a different rung of the income ladder.