A few questions: How much better/worse off is the average U.S. citizen than the average non-U.S. citizen? How does one measure the relative affluency of one person to another? How can one account for the discrepancies in living standards between U.S. citizens and non-U.S. citizens?
I'm not sure how you can account for it, however in dollar for dollar terms (purchasing power parity), I beleive that the average american earns about 50% more than most industrialised nations. The Japanese are pretty close to the US as well. Runningbear
Just giving an example since every area has its specificities... An American citizen, salaried, would earn a net before taxes of about 50-75% more than its French counterpart, working in a similar sized city. Now, the French dont have to prepare his retirement himself, since the dues are already paid when the salary is received. Same thing for education, which is high level and free. The health system is also #1 worldwide and mostly free (ie : free for anything serious, whatever the amount). So, it is difficult to compare... It is better to be in the US for young people without a family and earning more than average, and for working people with a small family earning a lot more than average. For the others, I think France would yield more wealth overall. It is mostly a matter of choices... depending on risk adversity... I would be pissed off to have a sizable portion of my net worth taken away for accidental medical bills, for example. OHLC
Traders have the best of both worlds since they can live anywhere and reap the local cost of living and other benefits (free healthcare, education, etc), yet they can trade US markets and earn an above average US salary in US dollars.
Just think of all the anti-american bs you would have to put up with if lived in France. It's bad enough being in London so close to the scumbags!
Not that simple, unfortunately... Especially for those who trade in LP from Europe, they have no status at all, and are subject to us taxes (ECI). OHLC
just21, you are clueless. Go to France and make an idea of your own instead of listening to other people's clueless assumptions about the anti americanism in France. It's not at all what you, they think or even what the media portrays.
When you say anywhere, are you saying inside or outside of the US? I'm not sure if free healthcare or education is available for US citizens outside of the US... In addition, I'm not aware of free healthcare inside of the US...please correct me if I'm wrong
I can only speak of my own experience. I live in Canada and trade US markets, so my income is earned in US dollars and is going to be the same whether I lived here or New York. My trading is going well and I'm earning an above average wage compared to most Americans. But because I gain an extra 50% on my profits when I convert them to Canadian dollars, and the cost of living here is lower than most American cities, I'm enjoying a much higher standard of living than a US trader earning the same as me would. And yes, we have free healthcare, and a college education for my kids is about 10% of the cost of most American universities. If I had a bad year and only scratched out a Mcdonald's wage, I'd still be in business, whereas a trader with the headwind of a high cost of living might have to pack it in. The point I'm making is that where you live can be an edge.