Ray From Cleveland
Diamond Member
- Aug 16, 2015
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In my opinion it's freedom and ability.
We are one of the only countries where a poor person can become middle-class, upper middle-class or even wealthy. It's not easy and may require sacrifice and investment, but it can be done.
It amazes me when I see foreign store owners who work from sun up to past sun down seven days a week. Many came here with little to no money, worked their asses off, and used every dime they could afford to open up their own business.
Why can't American born people do this? Because we are spoiled.
If the work is too hard, not the hours you like, takes too much time to learn, has you working overtime, you can just sit home and the working people will take care of you. Our so called poor have cell phones, air conditioning, free medical care, free food, and in some cases, a house or apartment in the suburbs.
However if you can avoid all that spoiling, you can become successful. Of course, when you do, you are castigated by the left, but most people ignore them anyway.
As for those who feel it's the people that make this country great, no foreigners are trying to move and live here because we have great people.
No, I think you're wrong. It can happen elsewhere too.
Just because you don't know about it, doesn't mean it doesn't happen.
Very rare in other places. Here we make a new millionaire every day.
But then the US is much bigger than other countries. Making millionaires isn't what makes a country great, it's making people have enough money for a good life. If you have more millionaires, potentially you have poverty too.
Switzerland has the highest proportion of US dollar millionaires in the world at 82,549 per 100,000.
Sweden is second at 54,167 per 100,000.
The US is third with 49,078 per 100,000
Australia 4th with 41,547 per 100,000
The UK 5th with 36,879 per 100,000
The problem here is the higher your GDP, the more millionaires you'll have, but then a million won't get you very much.
Switzerland is 9th in the world for GDP according to the IMF and 7th according to the World Bank.
"In Geneva, the median asking price was CHF 11,710 (€10,891) per sq. m." for a house.
Swiss house prices are now falling
In China you're going to be looking at far, far, far less for property. So a dollar millionaire in China is rich, massively rich. They could probably buy five decent sized properties in a major city. In Switzerland this might buy you one. A 70 square meter property in Geneva is going to cost you like 1 million dollars, at median asking price.
You have to understand the facts your looking at Ray, otherwise you're not going to understand what's going on.
Yes, but the cost of living is a bigger factor. For instance, a home you can buy here for around the $200,000 area is closer to the $800,000 area in the NE states. Same with California. The median income in Switzerland is in the mid $200,000 area, so your dollar doesn't stretch as far as just about any other country.
Switzerland has the second highest cost of living in the world, and Sweden falls in 15th place. The US (collectively) places 24th in the entire world:
Cost of Living Index by Country 2017 Mid-Year
Which is what I just said Ray.
You said the US was much better, but now you're going to have to compare all countries to find out where the US is, because you don't actually know.
My point is being millionaire here is not like being a millionaire in other places. The higher the cost of living, the more people that will have more money. In that regard, the US is the best place because we rank high on the amount of millionaires we have and lower on the cost of living scale.
I would rather live here in the Northeast Ohio area making $180,000 a year than live in the NYC area making $500,000 a year. My dollar will go a lot further. I mean, look at where the complaints are coming from with the new tax bill which eliminates home interest on loans over 750K. Nobody here is complaining about it because not many have homes worth that much. Those that do are pretty wealthy people.