10-21-2020, 11:50 AM
(10-21-2020, 01:56 AM)TheLeonardLeap Wrote: Because it's not just 40k vs 2m... there's a lot of people in between those numbers and based off your local cost of living, $200k might actually not be much more of a lifestyle than $60k.
In San Fancisco, $200k will get you the same that $58,800 in Cincinnati does.
https://www.bestplaces.net/cost-of-living/san-francisco-ca/cincinnati-oh/200000
That is all a basis of personal choice. It is like saying $80K will get you the same amount of car at a Mercedes dealership as $40K at a Chevrolet dealership. Plus the same job usually pays a lot more in San Francisco than in Cincinnati.
Stocks cost the same no matter where you live. The cost of borrowing and buying business supplies cost the same everywhere.
We can't base the tax code on the fact that some people live in areas with a higher cost of living.
