A much larger percentage of people in India have a noticeably better standard of living than their parents, because India is a poor but rapidly growing country.
Many Americans, quite a significant chunk, not just the very wealthy, get income that isn't "salaries or wages", I'm not just referring to bonuses and profit sharing (which aren't really rare themselves), but to profits of any kind (in securities, selling stuff on ebay or elsewhere, capital gains on houses etc.), and also benefits, and to a lesser extent things as far afield as renting a room or subletting an apartment. Average and median total income in on an upward trend as is the more narrow measure of total compensation for employment. *
* (on an upward trend does not indicate every single year, or this specific year is up) |
