Ahh, just in time for the 2008 U.S. Presidential elections, word surfaces that the standard of living in Britain is now higher than in the U.S. For a country that has prided itself on McMansions, luxury cars and overpaid jobs, the U.S. has been knocked down by those across the pond. Feeling sad, Americans?Researchers at the Oxford Economics consultancy are now stating that variables such as free health care and increasing incomes are making Britons better off than their American counterparts. When it comes to health care, this is no surprise.
47 million Americans don't have health insurance and health care insurance premiums continue to be abhorrently high. While those that continue arguing about taking health care insurance public instead of private, about a sixth of those living in the U.S. live every day without that type of insurance. From this standpoint, those in the U.S. that do pay health insurance costs continually see price increases. Result: less money to spend elsewhere.
Those Oxford researchers also state the GDP per citizen figures are higher among Britons than Americans, and Britain's continued financial market success has created a soaring housing market at the same time America is feeling a housing bust and a mortgage crisis created by greedy loan providers and ignorant homeowners. The researchers did state that British citizens may not feel more rich due to Americans having access to much cheaper goods. So, while Americans may make less, they can buy more.
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Reader Comments (Page 1 of 1)
1-23-2008 @ 12:36PM
T.Pettinger said...
After having spent time in UK and US. I would choose UK anytime for having better living standards.
Tejvam
http://www.economicshelp.org/
1-25-2008 @ 5:23PM
StopUnum said...
Forced to leave the U.S. by the outlaw branded American based Unum Corporation and its infamous brand of "insurance" deceit.
Back home now in the U.K. very sadly it appears the expert deceivers at Unum have misled some in British Government into adopting an American style SICKO "wealth-care" system here.
A very sad and disturbing state of affairs indeed.
http://www.stopunum.com/the-american-sicko-system/
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Thank you!
3-20-2008 @ 8:44AM
Bernard I. said...
Rubbish. By 'Britain,' one assumes that you're including England, Northern Ireland, Scotland and Wales in the formula and there's plenty of deep-rooted poverty in all of these areas. The premise that health insurance costs are singled out for differentiation and as a basis to support the proposition hides the fact{s} of the matter. Great Britain has a sales tax [VAT] approaching 20% - that's in addition to income taxes, property taxes, transfer taxes, etc. Also, since National Health Care - what you call 'free health care,' is poorly run and poorly funded, those with the means buy private insurance [on top of paying for the National Health plan, which they don't use] and they use private hospitals. Furthermore, the lower strata of the economic tables and the middle-class {of which there is now such a thing thanks in no small part to Margaret Thatcher's economic reforms of 1979 and the 1980's} has a significant amount of their children's university education fees paid for by the government; and we all know where government gets its money - taxes {somebody else's money}. While the rank and file of Great Britain have benefited from the redistribution of wealth {the estate taxes in England are confiscatory}, the dispairity between haves and have nots is still demonstrative. A social system based on wealth redistribution can only function for so long. Once the affluent have been taxed {either reducing their wealth to where they fall under the taxman's radar, or, when they flee to less confiscatory venues}, the return to a downward spiral of declining standards of living is inevitable. Sadly, the American trend has been to raise taxes - effectively, on the middle class {what's left of it} and to pass tax savings onto the wealthiest among us. The middle class in America drives the economy, not the few who have benefited by the GOP's economic policies of pillage and plunder. One final point, few Britains can afford to buy a home in their capital, as London's more expensive than New York and few wage earners, as opposed to professionals and/or bankers can afford such prices. The 'study' upon which your blogg depends is highly suspect!