[tom_]

$50,000 is more like £40,000.

[lowbloodsugar]

Buying power and taxes means $50k goes as far in the US as £50k goes in the UK. Possibly more.

[eigenket]

It strongly depends on where you are - someone earning £50k in probably London is having a much better time than someone earning $50k in Silicon Valley, but if the $50k person is living in somewhere less ridiculous they might be better off.