Countries with lower taxes and a better quality of living?
I’m currently stuck in Denmark, and it feels like I’m in a never ending financial tug of war with the government, saying goodbye to 50% of my hard earned cash each month. Add a 25% VAT on everything and throw in some hefty taxes on utilities, electricity etc, and you’ve got a situation that has me questioning if this is the life I signed up for.
Living in a place where the cold weather feels like an extra tax on happiness, I’m craving a change.
I’m all about individualism, self-sufficiency, and independence. So here’s the big question: Where in the world are you guys finding that sweet spot between low taxes and a great quality of life?
As I contemplate my escape plan, Cyprus, Portugal, and Dubai are on my radar. I dream of living in a country where taxes don’t feel like daylight robbery. But, and it’s a big ‘but,’ my online income isn’t quite flexing its muscles enough for a move to the streets of Dubai just yet.
So, where are you residing? What’s the tax scene like in your corner of the world? Are you doing a happy dance every payday, or are you, like me, wistfully staring at your bank statement, wondering where all your money went?
And let’s not forget the living conditions. On a scale of 1 to 10, how would you rate your overall quality of life?
I’m not just asking for my benefit, this is a collective quest for a better lifestyle.
Your input is greatly appreciated!
(Just to be crystal clear, I’m not fishing for a lecture on why I should be grateful for my current Danish situation or any unrelated personal opinions. If your input doesn’t contribute constructively, save it for another time.)
I live in the US, an individualist, self-sufficient and independent paradise. While we pay a lower headline tax rate, effectively we're not paying much less when you factor in services that you'd receive in Denmark that we don't receive here and have to deal with individually, independently and self-sufficiently (losing out on the economies of scale countries like Denmark get by charging everyone for these services, and providing them to everyone). Healthcare is incredibly expensive here - even if you're relatively young and healthy, the one or two times a year you need it really punches you in the face. You also need a car, which most people in Europe don't need because public transportation is good. There are labor protections, meaning you can't be fired if you call in sick, or because your boss is having a bad day, or because it's Tuesday. You can at least somewhat plan your life and start a family.
For me specifically, given the job I have, the industry I'm in and the unusually safe location where I live, my quality of life is an 8 out of 10 (for the moment, I'm a career lottery winner). The problem is there's approximately zero security in it, and as a result, I can't plan my life. I'll never have kids--it's too financially risky, and because childcare isn't subsidized, they're unaffordable. If I get sick, I'm fired. Then I lose my healthcare and I'm bankrupt and homeless a few months later. This is not an exaggeration--it happens all the time. There is no floor underneath how far you can fall here.
The US is a great place to come if you're young and healthy to make money, but it's no place to live or start a family long term. Having visited Denmark, I think many Americans would gladly trade your higher tax rates for the stability, predictability and generally higher quality of life there.
This is the most well thought out and realistic comparison I have read in a long time. As someone who has lived in Denmark, Sweden and the USA, you hit the nail on the head. I don't think there is a perfect society in the current world. I have an over 40 year relationship with Denmark, I understand OPs frustrations. I have kind, loving friends in Sweden who now embrace the right wing party. The world is always changing, there is not much we can do about it.
It's not just lower taxes. The US also has way higher salaries.
As I outlined to another person who said the same thing - the US has higher salaries for some things (tech yes, restaurant workers, no), but higher costs for most things.
The federal minimum wage is $7.25 per hour.
Ya-nah-ya
For non-tipped employees, yes. For tipped employees, the federal minimum wage is $2.13 per hour.
Outch.
Tipped employees make good money.
Most states start at $15+ / hour. Even in rural Minnesota with low cost of living you can easily make 15-17 / hour
And with that salary you get to pay medical debt, student loans, high rents/housing in moderate to high CoL areas. In alot of cases it is a wash outside of computer science pre layoff apocalypse and healthcare workers(notably doctors).
Lol life can be really good in the US with way less than 9 figures wtf. Reddit, and especially this sub, can be so out of touch sometimes. Sounds like you're just extremely risk averse. You're a career lottery winner (whatever that means) but you can't start a family and feel like you have no security? That's a you problem.
This is the truth. Everybody says the USA is great, an individualist paradise, yada yada. It's also an individualist hell.
Can you please tell me why my life is hell?
Can’t have it both ways. No ceiling/no floor.
I think maybe having a floor is worth having a ceiling in a first world country... There's plenty to go around. Nobody needs 300 billion dollars.
Nobody needs hundreds of billions in cash*
Having assets is a COMLETELY different story.
No, no it's not.
I’m not going to count someone else’s money, but yea there should probably be more support. Especially as the path out of the middle class is more and more difficult each year.
The individual may have to give up some of the individuality to accomplish it. But in their own way - live with parents until mid 20s. Have a roommate into your 30s. Then start the individual journey. Taxes/inflation can be blamed for a lot, the desire to be well off and independent at 18 is killing a lot futures.