American economic dominance

[Jeff Lebowski]

EU officials claim it would cause a massive spike in CO2 emissions. Meanwhile:

Embedded Tweet

Embedded Tweet

[Jeff Lebowski]

One of the latest topics in the America >> EU debate is the lack of AC in Europe. The debate is intense because of EU folks in the USA experiencing the joy of widespread AC and Europe being in the throes of the worst heat wave in history. EU bias against AC seems to a combination of affordability and some weird kind of conservation ethic. Also misconceptions about thermodynamics (no it does not make the outdoors appreciably hotter) and health (no AC does not make you sick).

The most striking thing to me is that more folks in the EU die from heat exhaustion every year (50-70k) than die in the US from guns (44k). 45 people have died this week in Paris alone from jumping into rivers to escape the heat.

Embedded Tweet

[wally]

I just read the first page, Jeff rightly celebrates GDP. Frank rightly wonders if rising tides truly make all boats rise. This is the debate as old as the Chicago School.

My personal opinion is that although GDP doesn't paint a perfect picture of wealth and prosperity, all those social safety nets have to be paid for--with tax dollars. Tax revenues increase when more wealth is created; ergo, you want social safety nets and prosperity, you need to a growing economy.

The only real debate--in my simple mind--is tax policy. It doesn't seem equitable that billionaires (we'll soon be saying trillionaires) can structure taxes in a manner that they have an ETR near zero, while I really can't do much to get it below 30%. But, I live a good life. I'm sure those who make a lot less than I do are really feeling the pinch.

I agree. I think that The Billionaire class should pay a little more, if even only enough such to be simply a gesture. Here is an interesting article on growing divide (since 2000) in the gap between Corporate Profits and Worker pay:

https://www.wsj.com/finance/stocks/the-record-divide-between-corporate-profits-and-worker-pay-ea4c75bc

Corporate Profits vs worker pay.jpg

[Pelado]

No, we use the imperial system.

Are we the Empire?

[All-American]

Are the poverty rates being measured with the same methodology on both sides of the Atlantic?

No, we use the imperial system.

[Pelado]

Does a rising tide lift all boats? Yes.

As I already mentioned, the poorest state in the US (Mississippi) has a higher per capita GDP than the UK. It also has a lower poverty rate: 18% vs 21%. EU average poverty rate also = 21%. US average = 10.6%.

Are the poverty rates being measured with the same methodology on both sides of the Atlantic?

[Jeff Lebowski]

A relevant youtube video on the subject. Hits a lot of the same points as the Accidental Superpower (probably plagiarizes it tbh).

https://www.youtube.com/watch?v=0O2EolPa2NM

Very interesting. Thanks.

[Donuthole]

Does a rising tide lift all boats? Yes.

It lifts all the ones that are floating, that's for sure.

[Jeff Lebowski]

I just read the first page, Jeff rightly celebrates GDP. Frank rightly wonders if rising tides truly make all boats rise. This is the debate as old as the Chicago School.

My personal opinion is that although GDP doesn't paint a perfect picture of wealth and prosperity, all those social safety nets have to be paid for--with tax dollars. Tax revenues increase when more wealth is created; ergo, you want social safety nets and prosperity, you need to a growing economy.

The only real debate--in my simple mind--is tax policy. It doesn't seem equitable that billionaires (we'll soon be saying trillionaires) can structure taxes in a manner that they have an ETR near zero, while I really can't do much to get it below 30%. But, I live a good life. I'm sure those who make a lot less than I do are really feeling the pinch.

Does a rising tide lift all boats? Yes.

As I already mentioned, the poorest state in the US (Mississippi) has a higher per capita GDP than the UK. It also has a lower poverty rate: 18% vs 21%. EU average poverty rate also = 21%. US average = 10.6%.

[Green Monstah]

I just read the first page, Jeff rightly celebrates GDP. Frank rightly wonders if rising tides truly make all boats rise. This is the debate as old as the Chicago School.

My personal opinion is that although GDP doesn't paint a perfect picture of wealth and prosperity, all those social safety nets have to be paid for--with tax dollars. Tax revenues increase when more wealth is created; ergo, you want social safety nets and prosperity, you need to a growing economy.

The only real debate--in my simple mind--is tax policy. It doesn't seem equitable that billionaires (we'll soon be saying trillionaires) can structure taxes in a manner that they have an ETR near zero, while I really can't do much to get it below 30%. But, I live a good life. I'm sure those who make a lot less than I do are really feeling the pinch.

[All-American]

A relevant youtube video on the subject. Hits a lot of the same points as the Accidental Superpower (probably plagiarizes it tbh).

https://www.youtube.com/watch?v=0O2EolPa2NM

[Copelius]

Cope.

I have no opinion on the matter.

[Moliere]

lol ... it is a measure of total economic output, not that "Americans" make a ton of money. The more accurate statement is American companies make a ton of money. Most Americans incomes are stagnant:

Wages are falling. Wealth is surging ...
https://www.nytimes.com/2026/06/13/b...lth-wages.html

There is a ton of data that Americans make a lot more money than most countries. In Europe it might only be Switzerland and maybe Norway that have a higher median wage, but I may be misremembering since it’s been awhile since I’ve researched it.

[tooblue]

Cope.

6 7

[Jeff Lebowski]

Brilliant—you figured out that a strong GDP does not equate or reflect social well-being :thumbs up:

Cope.