Evidence from leaked account data on how elites use offshore banking [pdf]

Re:Evidence from leaked account data on how elites use offsh... by jandrewrogers on Saturday May 08, 2021 @06:26PM (#27091346)

This is a bizarre take. The average American is more likely to live in the equivalent of Flyover, Kansas than Sunnyvale, California. I've lived in both, more the former than the latter. I'm sure the person living in Sunnyvale would love to pay $55k for a nice brick two-story house (current price for one I grew up in) but that doesn't seem to be an option in Sunnyvale.

Tell that hypothetical average American to buy a mediocre house in Sunnyvale and see what reaction you get.

Nobody cares what lifestyle $400k can buy in Mississippi because very few people are making that much in a locale that cheap.

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Re:Evidence from leaked account data on how elites use offsh... by PaulDavisThe1st on Saturday May 08, 2021 @06:50PM (#27091511)

But in your previous post you noted the idea that you could save $2M in a reasonable time frame.

This is completely independent of CoL. There are very, very few Americans who will ever be able to seriously consider doing this.

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Re:Evidence from leaked account data on how elites use offsh... by CPLX on Saturday May 08, 2021 @06:48PM (#27091497)

> The average American is more likely to live in the equivalent of Flyover, Kansas than Sunnyvale, California.

Or, 90 minutes from Sunnyvale, an amount of time they are keenly aware of as they commute there every day to clean the clothes, cook the food, and maintain the real estate of the “not rich” people you are describing.

> Tell that hypothetical average American to buy a mediocre house in Sunnyvale and see what reaction you get.

They would say I’m sorry I can’t, because the prices of those houses have been bid up by the rich people who currently live there and make $400k a year.

> Nobody cares what lifestyle $400k can buy in Mississippi

People in Mississippi do. They also get a say in setting tax policy for the U.S. which is the topic of current discussion.

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Re:Evidence from leaked account data on how elites use offsh... by philjohn on Saturday May 08, 2021 @07:07PM (#27091633)

You're ignoring the people who make nowhere near 400k who also work in California, but have to do things like living in a trailer park, or winning a FAANG lottery for teachers in the local school district to have subsidised housing, or commute dozens of miles.

A little perspective is always a good thing.

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