10-29-2017, 08:39 PM
(10-29-2017, 07:37 PM)gstanford Wrote: $50K per person is plenty. Thats $100K per couple. A quarter again more than the $75K you mentioned.
Well the article I read was based on a $75k personal income, not total household income.
I will tell you, my household income is a lot more than $75k and we live a decent life, however we don't have anything extravagant or luxurious. Houses and daycare are extremely expensive here. If we made less we would have no savings. We would have no money to travel and we would go in debt every time we had to fix our house or car. I honestly don't know how people survive on less here.
Sure, we could live very well if we lived in a smaller city, but then it would be harder to find jobs and we would earn a lot less. It's all relative.
Perhaps in your part of Tasmania $50k is plenty. Here where I'm living, that wouldn't cover daycare costs for two kids plus a mortgage. We would starve. Or we would be forced to live in a basement apartment or something. Not exactly a lifestyle people would sacrifice and strive for.
Honestly, I think this is all that needs to be done:
- eliminate offshore tax havens
- eliminate all the loopholes in the tax code for rich people
- cap CEO salaries or tax them to death after a certain point
- create a new tax bracket beyond $500k of income where the government takes a large portion
I really think those four things alone would give the government enough money to really make a difference and make our societies more equitable.