Quote (Thor123422 @ 25 Feb 2021 04:05)
You are wrong in the bolded. We definitely do not guarantee a higher standard of living, and in many ways we guarantee that a large portion of the population will have a lower standard of living.
You are in a much better position being poor in the UK than you are in the United States. You are in a much better position having a life-long health condition in a lot of Europe than you are in the United States if you weren't born to a top 10% income family.
We have a big problem with income distribution, so no, we don't guarantee anything across everybody in the United States.
That's the issue: for a proper comparison of the overall well-being of citizens in various different countries, we would need to compare the median
disposable income (after taxes and typical living expenses like healthcare or rent).
Yes, the U.S. have a comparatively high median income, but Americans are paying a lot more for their healthcare than Europeans, with a much lower protection level. For around €400 a month, I get an almost all-inclusive healthcare insurance, and if I had children, they would get full coverage under my plan... for free. How much would I need to pay in the U.S. for the same kind of coverage? $800? $1200? The difference would theoretically need to be added to my euroscrub income to get the comparable US-style income. I would assume that the factor healthcare is single-handedly skewing the median income by something like $500 per month, or $6000 per year. And let's not even talk about the difference in security and protection when someone loses his job or gets cancer...
The bottom line is probably this: yes, the United States have various ultra-productive industries, so that there's plenty of wealth going around - but the distribution is so egregious that the actual quality of life for very sizable chunks of the American population lags behind that of people
from the same income percentile in other developed countries.