So, it's pretty clear that in certain states in the U.S. and a few other countries, if you earn more, you end up paying more in taxes. On the flip side, in some places, earning less means lower taxes. I'm curious, what would you go for? A high-paying gig in an area with a high cost of living and steep taxes, or a low-paying job in a place where living costs and taxes are both low? Because let's face it, taxes are a never-ending story.
High pay low pay doesnt matter much, they all are wage slaves in the end. What you really need is a business that you fully own. That way you can choose pay zero tax as there are many ways to avoid taxes legally which are not available to waye slavin people. Think out of the box mang. Another future is indeed possible. You dont have to decide between pink shit and blue shit. Go start your own business and learn how to print monney without paying a dime to the thieves that call themselves thee government. And I aint talking none of that dont state your income type of illegal shiet. Imma talking all legal and stuff. And yep; it iz possiblu
Places where jobs pay low and cost of living is lower has peaceful environment, remote and less stressful and you get a quality talk to people. The roads has less traffic, you won't have to wake up too early only to see you still can reach to the workplace after an hour of driving when you could have done it in less than 10 minutes if only the streets are widely available.
you have raise an interesting topic. i have leaved in an environment where i aim or receive a high payment but cant utilize the money very well due to the high cost of living including tax, but as i left for a place with lower payrate, low tax and low cost of living, i can now boost of saving some money on like before. now i am even doing more better than before. one important thing is that people do what pleases them without considering the impact it will cause on them. some can decide to stay in a high paying job and a high cost of living just to maintain city life or maintain some level of composure.
for me i preferably chose the most important one that will suits my peace of mind, and that is the low cost of living and low tax, provided that i will utilize the information i get in such place. i.e if i can be productive in that place and aim higher later in the future then such place is for me. what really matter is peace of mind, less expenses and high productivity.
You are just asking would you like to go to a country that pays taxes. The concept of tax is that the higher your income the higher you tax and the lower your income the lower your tax but in your context you did not tell us what those who earn lower income pays at tax in the first instance and what those who earns higher income pay as tax in your second instance.
On paper it is meant to be fair with higher income getting higher tax and lower income getting lower tax but the high income earners do evade tax completely and some government policies aids it.
Prefer to have high income, high tax. Why? It gives access to the better lifestyle, housing or even education. It's totally differ with low income, low tax which may be forcing you to do frugal living, maybe.
I'd rather have 100k income, but get 30% rax instead of 5k income with 10% tax. Having more money obviously make my life much more easier.
If I want to be an employee, I will choose high pay, high taxes.
If I want to be an entrepreneur, I will choose low pay, low taxes.
That's why people from developing countries work in developed countries, after next few years they try to start a business in their country.
Since you're asking to majority people, the answer would be high pay, high taxes because the number of employee is higher than entrepreneur.
One can accept a low salary to work where the cost of living is low. I would have accepted that job there if I had thought about it. Everything about income and expenditure depends on one's own mindset.
As for me I will choose the higher pay and with a high taxes because I'm sure that the taxes will not be half of my salary by the end of the month. If one earn higher and also pay higher taxes I'm sure that there are ways whereby they can economize of things do that they don't spend much money (especially unnecessary expenses). Earning lower salary and paying lower salary is no different from feeding from the hand to mouth, mostly when you have families to feed and other responsibilities to care for.
High salaries, high taxes, and low salaries, low taxesif you look closely, the results are the same. It depends on lifestyle and the price of goods.
If the benefits received from taxes are not properly targeted or are frequently misrepresented by government officials, even if the amount is high, it won't matter. This often happens in every government period.
I prefer the net result after tax deductions, even though I fundamentally dislike being an employee receiving a salary from a company.
It's customary the higher your salary the more tax that you should pay and this is also applicable to company owner all over the world the more profit that you make the more tax that you gets to pay , the rich actually contribute allot to the economic stability and development of any nation that they find themselves because when tax are paid by high income owners it is used in development of the country so I will choose to be a high income earner so that I can pay a big tax which can be used for the economic and developmental challenges that may country is going through
Not always, and rich can legally avoid taxes in many way. Just for the sake of arguement if someone making 100K as salary then their tax is fixed they have no way to reduce their taxes but if someone making the same 100K from running a business they can writeoff many things as expense and they have the possibility to show 50K as expense so the remaining 50K will be taxable earning and this number is just for understanding and rich can even show most of their revenue as expense and pay little in taxes.
And there is a misconception that the rich pay more but the poor pay more in the context of how much they make, since sales tax duties and every indirect tax is just same either you are poor or rich so rich and poor pay same taxes while buying a gadget, while buying fuel and same for any goods and services. So, if the rich make $1,000 and they pay $10 as indirect tax, which is just 1%, it will not hurt them in any way. However, if the poor make $50-$ 100 and they also pay $10, which is about 20% of their earnings, it makes them the ones who pay more.
I have heard about high taxes in Europe and America. Some friends and family members who reside in these developed countries tell stories of how they work long hours and pay high taxes. But the good part of their lives is that they have access to basic amenities. At least they can benefit from the high taxes they pay.
In my country, we pay low taxes, and the pay is also low. The standard of living is poor because we don't have access to basic amenities. We work short hours and spend more time with our families.
My position is that I would prefer to work fewer hours and pay less tax in a less expensive nation if the standard of living is high. Alternatively, I would prefer to pay high taxes and live in an expensive country if the standard of living in cheap nations is low.
At least you are correct when you say that it does not matter whether taxes are low or high but more what is left in your pocket after you pay taxes and what you receive in exchange. When taxes increase and something is not done to make better services and benefits, persons can only become frustrated. There is frustrations to see that the money that you have paid is not really contributing. Also, I understand what you mean about liking the net income-it is what is available to use. And it is considered that being an employee has a limit to it, especially when you want to have more control to your earning and work life.
Having low taxes almost wont mean anything anyway because most likely that house will only last black girl. The only very way to work with me is working with me all the time tas very download. I:d rather not pay and live goodly rhan the dest of us.
Yeah, taxes never end so might just go after with higher pay and have higher taxes. This also gives you a good credit standing if you ever want to purchase something big. Since you're documented and pays a lot of taxes, the banks will surely give you that standing and you're one of the prospects that they're looking for with that criteria as a high earning person. It's good to live in a low cost of living but by its standards, the inflation is unstable and soon, you'll also feel how high the prices are. So, if there is no other option then paying with high taxes but earning higher is the best option IMO.
If I were an employee, I'd prefer high taxes and high wages. If I were an entrepreneur or business owner, I'd definitely prefer low taxes. Low taxes seem better. Even if you were an employee, you could start a different business later. Knowing the low taxes, I'd look for other ways to exit the workforce, and I think I'd eventually find them.
I'd start a business, perhaps e-commerce, or something else, and I think the low taxes would allow me to make more money. Things are a bit complicated in my country. Companies that generate significant profits are constantly receiving tax exemptions, but their employees pay more taxes than those companies.
anyhow we understand it a tax is also and a tax in respective what you receive as a salary weekly or monthly or hourly, if you are receiving a low payment and you paying a low tax, it is equivalent to what you are paying when you have a high payment so I've not seen any different between both of them due to someone who is receiving higher payment is at advantage is because the high rate of tax the person that received high payment paid, their balance all their profit or their service can't be equated because they have different ration of payment which is low and high and the tax payment is also different, so it will be nice for me to fall into the category or people go receive higher payment and also a higher tax.
I would go for high payrates, because the tendency is that life quality is going to be superior on that area, considering the taxes you are paying fund public services to benefit the local population. Moreover, when everyone around is well paid, you will have a happier and more satisfactory neighborhood, which is also a very important factor when choosing where to live.
Actually, it's a quite obvious answer and I doubt anyone would choose the opposite. A more relevant question would be if you prefer having a high wage, while living in a third world country or in a first world country. Then answers could be more balanced, since there are pros and cons on each category of country.
The United States operates a progressive tax system with different tax brackets, and yes the higher earners are taxed more in the tax bracket. Though the wealthy have always found a way to lessen their tax burden through "corporations", which are taxed after they have subtracted profits from revenue, and then taxed on the profits, so they could add up miscellaneous stuffs as expenses and further reduce their taxable profit.
To answer your question, it is all down to math, people will calculate what works for them based on a lot of factors. Personally, i understand that a job isn't my problem, that is why i change companies frequently, what matters if you want to be financially stable is how you invest the money you make, and how well you are learning good skills. Earning little for sometime does not matter.