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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (136021)	4/8/2001 9:00:09 PM
From: tejek	Read Replies (1) \| Respond to of 1572561

The averarage American is richer but our wealth is more concentrated. If you look at the whole of the EU compared to the US the typical American is also richer then the typical person in a memberstate of the EU, and we have a lower unemployment rate then Europe, but if you don't have a job in Western Europe you probably are better off then if you live in the US and are unemployed. Tim, I think you have made both our points. We do have a large GDP which substantiates your point that we are a rich nation. However, the highest 10% in terms of income level in the US control 28.5% of the GDP wealth. The only western European nation to match us in that regard is Switzerland; in France, Sweden Norway, Finland, Spain, the highest 10% control a smaller percentage of the GDP wealth....in the low to mid 20's. The percentage of people below the poverty level in the US was 12.7%. Interestingly enough, Ireland, a much poorer nation, had only 10% below the poverty level. The other nations I checked did not give that number. I got this stuff out of the link below. I never found an average income for each nation; however, like I said earlier, I think both our points have been validated. As a country, we are richer than the other developed nations. However the citizens in this country on average are poorer than those in the developed countries mainly because of how the wealth is distributed in each of the countries. www-rcade.dur.ac.uk ted