LFizzia retweetet
Seems remarkable but it's true: in terms of P90/P10 ratio, wage compression in the UK is similar to the USSR at its most compressed.
Soviet min wage also peaked at ~60% median income, while we've just hit 66%.
Social democracy has achieved greater egalitarianism than communism.
Zynx@ZynxBTC
The UK has a far flatter income distribution than the Communist Soviet Union. The UK take home minimum wage for working a full time job (40-hours) is now £22,555. At £100k salary, the take home is £68,558. That is a net income ratio of 3.04:1 We are now at the point where the wage compression and taxes in the UK means that the difference between minimum wage and a top 5% salary is a net income difference of only ~3x. In the USSR using the same comparison, this figure never fell below 5:1 It's actually even worse in reality because the person earning £100k in the UK often has student loans. Britain is nominally capitalist but functionally communist. China is nominally communist but functionally capitalist. Funny how that works.
English
