Our US friends may pity Europeans for our low salaries, high taxes and dependence on public transport – but they’re forgetting the really important stuff … I’m sorry to break this to you, but you may be “Europoor”. This is, apparently, what proud American patriots (the kind who describe themselves in those terms on their flag-forward X profiles anyway) are calling us Europeans, mocking us for our low salaries, high taxes and dependence on public transport. GB news presenter Tom Harwood declared this dig “entirely accurate”, but is it? Well, sort of. US post-pandemic GDP growth is more than double that of the eurozone (15.6% compared with 7.2%; the UK is even worse on 6.3%). As for wages, once you adjust for national differences in the cost of essentials such as housing, food and services, the US average is $86,977 compared with the UK’s $66,299, Germany’s $76,286 and France’s $60,483, according to the OECD. A Sunday Telegraph investigation of the “Europoor” question highlighted astronomically powerful growth of the US tech sector supercharged by AI, making it easy to raise and make big money unencumbered by “old world” regulation and taxation. “We don’t want to be like what Europe has become,” said the Republican pollster Brent Buchanan. Continue reading...
Some Americans call us ‘Europoor’ - but there are seven ways we’re exceedingly rich | Emma Beddington
Our US friends may pity Europeans for our low salaries, high taxes and dependence on public transport – but they’re forgetting the really important stuff … I’m sorry to break this to you, but you may be “Europoor”. This is, apparently, what proud American patriots (the kind who describe themselves in those terms on their flag-forward X profiles anyway) are calling us Europeans, mocking us for our low salaries, high taxes and dependence on public transport. GB news presenter Tom Harwood declared this dig “entirely accurate”, but is it? Well, sort of. US post-pandemic GDP growth is more than double that of the eurozone (15.6% compared with 7.2%; the UK is even worse on 6.3%). As for wages, once you adjust for national differences in the cost of essentials such as housing, food and services, the US average is $86,977 compared with the UK’s $66,299, Germany’s $76,286 and France’s $60,483, according to the OECD. A Sunday Telegraph investigation of the “Europoor” question highlighted astronomically powerful growth of the US tech sector supercharged by AI, making it easy to raise and make big money unencumbered by “old world” regulation and taxation. “We don’t want to be like what Europe has become,” said the Republican pollster Brent Buchanan. Continue reading...