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re: UK family travels to Colorado and is stunned at how rich everyone is compared to U.K.
Posted on 7/11/25 at 6:14 pm to stelly1025
Posted on 7/11/25 at 6:14 pm to stelly1025
quote:
think it is funny when some people talk about how great countries in Europe are compared to America
I love Europe. Europe is great if you’re a rich American. The problem is that most people in Europe aren’t rich Americans.
1
Posted on 7/12/25 at 12:24 am to Antonio Moss
quote:
TLDR: When classifying by wealth instead of income, the top 1%, top 0.1%, Top 0.01%, and top 0.001% all pay a fantastic amount of taxes.
I don’t have time right now to sit and consume all of that. I will try tomorrow. I will say that long term capital gains from investing your wealth (if you have enough) is generally taxed at a lower rate than ordinary income. The income from long term capital gains also takes zero effort. You just put your money in the market and let it ride. A doctor busting his arse 70 hours a week will pay a higher percentage of his income in taxes than someone who invested his wealth and didn’t touch it for 13 months. Certainly you want to incentivize people to invest their wealth because it leads to job creation. I’m not trying to make a judgment call about whether that’s right or wrong, but it is how things work.
Posted on 7/12/25 at 7:15 am to Antonio Moss
quote:
I love Europe. Europe is great if you’re a rich American. The problem is that most people in Europe aren’t rich Americans.
Exactly.
Posted on 7/12/25 at 7:28 am to HailHailtoMichigan!
Imagine how wealthy many of us would be if literally 50% of our income wasn’t stolen from us and dispersed amongst fat, lazy, and entitled white trash and black people and their shitty little kids OR shipped off to the UK to funny tranny festivals via USAID.
Posted on 7/12/25 at 7:56 am to HailHailtoMichigan!
Don’t worry. We are headed the way of Europe. Everyone will be sitting on the porch and happy as long as they can crack open a cold one or two.
Posted on 7/12/25 at 9:05 am to HailHailtoMichigan!
High insurance rates, 20% value-added tax, and high road tax. On a high emission vehicle bought new for $60,000 US, you will end up paying over $22,000 extra on taxes.
VAT is added to most goods and services in the UK. Even broadcast TV has a $200/year fee.
All of the "free" shite in the UK and other Euro countries is necessary because they tax damn near everything.
VAT is added to most goods and services in the UK. Even broadcast TV has a $200/year fee.
All of the "free" shite in the UK and other Euro countries is necessary because they tax damn near everything.
Posted on 7/12/25 at 9:09 am to ATrillionaire
quote:
A peak behind the curtain would reveal severe credit debt.
You have to be able to prove your income level to obtain that level of debt.
Posted on 7/12/25 at 9:42 am to imjustafatkid
quote:
You have to be able to prove your income level to obtain that level of debt.
What's your pt? Do you know how to calculate net worth?
Posted on 7/12/25 at 9:54 am to ATrillionaire
quote:
What's your pt? Do you know how to calculate net worth?
Well my point is pretty obvious, but if you want to pretend you're an idiot I'm fine with that. Credit debt for large purchases isn't available to people who can't prove their income, and seeking debt to make purchases isn't unique to the USA.
In short, people utilizing debt to make purchases does not negate, in any way, what was stated in the OP.
This post was edited on 7/12/25 at 12:51 pm
Posted on 7/12/25 at 9:58 am to imjustafatkid
Too early for this. You win.
Posted on 7/12/25 at 9:59 am to wm72
quote:
I lived in Italy, France and the UK for a long time.
They have access but are MUCH, MUCH, MUCH more wary of debt. And, they also seem to be more loathe to let banks make extra money off them.
This, and the same is true in much of Asia.
To cite one example, I know a family in Hong Kong that has run a currency exchange shop in one of the most run-down buildings for decades. They live in a modest (by American standards) 2 bedroom apartment that's about 1300 square feet.
No one would know that family's net worth is around $30 million US. They have absolutely no debt and wrote checks for both of their children to attend Yale and Oxford. I remember them instilling financial discipline with their children at an early age by placing a dollar in savings for every dollar they saved working odd jobs at teenagers. The family takes very nice, yet inexpensive vacations, to Thailand and Malaysia.
One thing you'll find throughout Asia are families with a strong distrust of government, remembering Mao, Pol Pot, etc. They often have money stored in all kinds of places, including offshore banks, safes, and joint accounts with relatives in other countries. Trusting family is far more important than trusting institutions, in their view.
The rest of the world just has a very different view of money than most Americans, in good and bad ways.
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