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Author Topic: High Pay, High Taxes or Low Pay, Low Taxes?  (Read 630 times)
Abiky
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August 18, 2025, 09:33:02 PM
 #81

It is known that in some U.S. states as well as in some other countries, the higher your income, the higher your taxes, while in others, the lower your income, the lower your taxes. The simple question I would like to ask you is this: which would you choose, to accept a job with high income in a where the cost of living is high and you pay high taxes, or go for a low paying job in a state where the cost of living is low and the taxes are low? After all, taxes never end.

I'd prefer higher pay and lower taxes. But we all know this is almost impossible. Wages aren't increasing at the same pace as inflation. Meanwhile, governments continue to raise taxes in a bid to correct overspending. In the US, the cost of living is high in almost every state. Trump's tariffs will only worsen the situation. Unless, Trump decides to eliminate the income tax and replace it with tariff revenue (which I highly doubt).

In essence, Americans are "double-taxed", leaving them with less money for saving or investing. The rich will only get richer, while the poor, poorer. That's how the system works. I know most people will prefer lower pay, as long as taxes (and inflation) are reduced. To stay on the safe side, just buy and hold BTC + Gold for the foreseeable future. You'll thank me later. Grin

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ellie888
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August 27, 2025, 01:25:58 PM
 #82

Personally, I’d go for a higher income, even if it comes with higher taxes. I’d rather have a solid base and invest the difference. I actually came across an article that explains really well how to approach financial decisions when taxes become a critical factor.
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August 27, 2025, 02:52:28 PM
 #83

I prefer the second option, low income, low tax and low cost of living. As long as the security level of both places in comparison are the same. I don't like the idea of working so hard only to end up spending the money  because of how expensive they are. One thing that eats up ones money is feeding and maintenance, and if you live in an area that cost of living is very high, you will hardly save up money at the end of the day. But someone who's living in an area with low cost of living, no matter how little the income is can still save something at the end of the day.

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