Is what we laugh at part of our problem?

While out with some people one person in my party said the difference in American humor and British humor is that American's like to laugh at others, Brits like to laugh at themselves

We shared in a laugh a bit and we both knew that generalized statements like this are rarely accurate, and this is probably not an acceptation. But it did make me think: 

Am I more apt to laugh at you or laugh at myself