That's interesting.
https://www.justfacts.com/news_poorest_americans_richer_than_europe.asp
Why Is the U.S. So Much Richer?
Instead of maligning the United States, the Times could have covered this issue in a way that would help people around the world improve their material well-being by replicating what makes the U.S. so successful. However, that would require conveying the following facts, many of which the Times has previously misreported:
https://www.justfacts.com/news_poorest_americans_richer_than_europe.asp
Why Is the U.S. So Much Richer?
Instead of maligning the United States, the Times could have covered this issue in a way that would help people around the world improve their material well-being by replicating what makes the U.S. so successful. However, that would require conveying the following facts, many of which the Times has previously misreported:
- High energy prices, like those caused by ambitious “green energy” programs in Europe, depress living standards, especially for the poor.
- High tax rates reduce incentives to work, save, and invest, and these can have widespread harmful effects.
- Abundant social programs can reduce market income through multiple mechanisms—and as explained by President Obama’s former chief economist Lawrence Summers, “government assistance programs” provide people with “an incentive, and the means, not to work.”
- The overall productivity of each nation trickles down to the poor, and this is partly why McDonald’s workers in the U.S. have more real purchasing power than in Europe and six times more than in Latin America, even though these workers perform the same jobs with the same technology.
- Family disintegration driven by changing attitudes toward sex, marital fidelity, and familial responsibility has strong, negative impacts on household income.
- In direct contradiction to the Times, a wealth of data suggests that aggressive government regulations harm economies.
