Post
Topic
Board Economics
Re: High Pay, High Taxes or Low Pay, Low Taxes?
by
bitLeap
on 11/08/2025, 13:13:47 UTC
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.
Ideally, high salaries should be in sync with high taxes, and low salaries with low taxes. It would be very detrimental if salaries were low while taxes were high. In some countries, this instability persists, ultimately causing suffering for the people, as almost 50% of their low incomes are used to pay government taxes. For example in my country, the income tax on crypto transactions continues to increase from 0.1 to 0.2 per transaction. Although we don't rely on government salaries due to limited employment opportunities, taxes still have to be paid.