How do people afford to live with such high taxes?

[KillerStartup]

After I pay for everything, there is no money to budget anything for future. What's happening to the economy?

[jackdanyells]

Well, it's a mix of strategies, adaptability, and sometimes, just getting really creative with budgets. Some might look into side hustles or additional income streams to pad their finances a bit. It's all about finding those little edges where you can.

The economy is like this giant puzzle where the pieces keep changing shapes. Lately, it feels like everything's more expensive, and wages aren't always keeping up, making it even harder to stretch that paycheck.

In my opinion, one of the keys is to get really clear on your financial priorities. Easier said than done, I know, but sometimes laying out all your expenses and seeing where you can trim or adjust can free up a bit more for savings or investments. And talking to a financial advisor could help too—they might point out options or strategies you haven't considered.

Whether it's swapping services, carpooling, or just getting budgeting advice from someone who's been through it, there's strength in numbers.

While there's no one-size-fits-all answer, staying informed, seeking advice, and sometimes being a bit creative can help you navigate through these tough times.

[Goahead76]

I think you have to get really radical, cut your standard of living as much as possible, move in with family, work extra and save every bit you can and ultimately leave your country for somewhere with a vastly lower cost of living. There are quite a few very decent countries where you can live quite well for a fraction of many others. Imagine how far 10k, 50k, or even 100k would go in certain countries. Do I like that I have to do this, no, but I look at it like my government chased me out essentially.

[Friendlybro79]

The government officials that represent us are paid and legally bought off my corporations. The really unradical idea is to get them to pay their fair share, by taxing the hell out of them, and force a universal wage to be distributed back to us. We have to start sticking up for each other regardless if your left or right of politics. They're all screwing us. We need to demand living wage increases, better worker rights, while still allowing big corporations to thrive. They could raise wages and accept less profit and still be crushing it. It's all bs.

[Friendlybro79]

People are pay check to pay check and are working hard. This idea we're all lazy is bull shit. Worker productivity is up exponentially while wage growth is technically down over the past 50 years adjusted for inflation.

[Goahead76]

It sounds nice, but I just don't see it happening in my lifetime.. While everyone is fighting in the streets I want to be living a peaceful life in Ecuador or somewhere.

[NaultD]

The majority of taxes are percentage base, so it's more about corporations cheating out more money. The grocery store raising prices and shrinking products and the executives getting million dollar bonuses, but the tax is and has always been a flat cut for decades if not close to a century.

[FreyaRed]

The more taxes people pay the less they consume goods which industry produces. Low consumption will cause in long run deflation. Public debt of most countries is astronomical and deflation will destroy such economies instantly. When governments stop paying debts interests, on share market happens Armageddon and Ragnarok in the same time, because this market is financed with tax payer money.
When you love to watch the world burn the time comes soon.

[bobalife]

I don't know how we do it, but we just rollin through werkin it while living as one of the most expensive states 😂☠️

[normalice]

Economies of scale allows for your taxes to buy things you presumably would have bought anyway, but at a much cheaper rate since everyone is chipping in. If you don't like what is being bought, the person to complain to is your congesional representative.

[bobby_bush_eater]

If you live in the US we don't have high taxes. The taxes are still way too damn high but compared to the dirty foolish commies in Europe they're low. Look at non other than my retarded country men in Spain to find what really high taxes and shitty wages look like

[SnackTime]

Hold onto your hat, because Biden’s about to borrow another 7 trillion. When gas hits $9.00 per gallon, Biden will find a way to reduce it to $8.50. Then he will brag about how he reduced gas prices.

[Flatmanlewis]

No kidding. I like how they report that crime is steadily declining too even though I can see it with my own eyes. They skew statistics and lie so blatantly it’s beyond my understanding.

[SnackTime]

We saw the videos of thousands of people crossing into the US illegally. They told us that we didn’t see what we saw. Biden told us for three years that the border was sealed. Now he says it’s not sealed and it’s horrible but the only way to fix it is to give money to Ukraine.

[exitseven]

The thing that sucks is tgmhat the vast majority of the money gets pissed away on stupid programs, corrupt politicians and illegal aliens.

[Unit1]

Maybe they have a secret source of income. I try to make it myself with swing trading.

After my paycheck not much remains. I need to be mindful about my spendings. It can mean having something to eat for the day.

[Flatmanlewis]

I live in California and cannot even comprehend the taxes I pay sometimes. It’s disgusting.

[electromagnetic]

We find ways to adjust sadly. I saw the government this tax season

[dustybiker2]

How do they afford to pay the rising cost of basic food?

[Friendlybro79]

Big corporations and billionaires don't want to pay their fair share in taxes themselves. It falls on what's left of the dwindling middle class.

[SnackTime]

What percentage would be a good percentage for corporations?

[Friendlybro79]

@SnackTime They should be paying a higher effective tax rate than avg people. For many super profitable corporations pay zero or near zero in federal taxes. To put a number on it I think 20% but not I can write everything off and take it from 20 to zero percent. They should pay a min of that. If they want write offs to lower it then a great idea would be if you give raises to your people in a certain amount above inflation then you can lower your tax rate x amount. They should be incentivised to share their profits with the people that help them make their profit. Somehow it should be cheaper for the to give us more to lower their taxes. Forced trickle down. Reg trickle down doesn't work. This is a rough draft idea

[SnackTime]

Whatever percentage, you decide on, that’s how much more you’re going to be paying for your cornflakes. I told a guy on here yesterday that corporations don’t pay taxes and landlords don’t pay property tax. The customers pay for everything.

[Friendlybro79]

@SnackTime they can keep their cornflakes then. Also if they make more they'll have to pay more in taxes in my idea which I'm sure isn't perfect don't get me wrong.. they mark up 20% they pay more taxes too. If they want to keep more of that 20% then they have to share some of it with the employees to get a tax deduction and we can afford the increase too

[Friendlybro79]

Here's the thing if we just lay down they will continue to bleed us all into unemployment when AI can replace us. Hence why we need government to intervene because corporations should not be running the country. They need to be checked just like we ha e branches of government to check each other. Corporations need to be more gracious for the all the fortunes the country has allowed to them to make.

[gorydetails]

I don't know. It's fucking obscene. I paid over $40k in taxes last year. And that doesn't include sales/gasoline/booze/property/utility/car taxes

[_no_one_]

And thats why you should commit tax fraud coz government deservs it.

[DreamLife7]

You must be living beyond your means. I work 3 days a week yet still able to pay all my bills with money left over

[CuriousMufuxka]

Yeah, an average of 22% is pretty shitty, but even at the lowest of 18 have I struggled. My answer is to get a better paying job.

[noohair]

The US government has debased our money to the point where it has no true value.

[Snakeyes7]

Governments don't need anywhere near as much taxes as they extort from you.

[AngryCarl]

Generally, yes. But it depends on the government and how they spend your taxes. The US regime seems particularly egregious. One wonders where your taxes are going, since you don't see a return in anything like healthcare or infrastructure.

[Snakeyes7]

@AngryCarl It doesn't matter, if someone robbed me of my money and spent it for nothing but things that benefit me, they still robbed me.

[AngryCarl]

I gather you're an anarchist. I see what you're proposing and I don't think it will work out as well as you expect.

[Snakeyes7]

@AngryCarl I just want the government to follow the bill of rights. That is too much to ask, apparently.

[Anonymous]

Bidenomics... c’mon man!

I mean it’s the Putin-price hike! Yeah! 🙄

[Anonymous]

They don't, that's the elites plan to eventually seize all private assets and reintroduce slavery

[dolemite58]

Look into how you can use as many tax deductions and loopholes as you can

[Anonymous]

Lol Americans don't have high taxes, go live in a proper democracy and you'll see

[JacobJordan]

You gotta start lying on your taxes.

[JacobJordan]

If the work you do can be fully remote do so and then pick a country that is cheaper and go there. The US is lying to you anyway America is not the best country in the world, it isn't the happiest, safest, smartest, healthiest, freest, etc the US leads in zero positive categories. My wife and I left before our first kid was born because we were not about to have the perverts and pedophiles of the LGBT be anywhere near our kids. Best decision ever. Once you are outside the US and away from the lies and bullshit it becomes very clear so fast how badly Americans have been lied too