Portugal seeks to become low-tax haven for young people

Re:Portugal seeks to become low-tax haven for young people by HarHarVeryFunny on Thursday October 10, 2024 @03:01PM (#41802197)

Depends where in the US of course. $200K isn't going to go very far if you have to pay $1M for a house, 20K for r/e taxes, etc... One or two kids in college and you are f'd.

I don't know exact salary figure, but my sisters family in UK have medium income (1.5 jobs) new BMW, two kids in college, foreign vacations every year, kids got latest Apple phones/watch/laptop growing up ... A bit like 1950's America living the dream on a single income with foreign holidays and iPhones added.

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Re:Portugal seeks to become low-tax haven for young people by CalRobert on Thursday October 10, 2024 @03:18PM (#41802427)

When did they buy their house (or flat)?

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Re:Portugal seeks to become low-tax haven for young people by HarHarVeryFunny on Thursday October 10, 2024 @04:00PM (#41802897)

House bought a while back before prices shot up, so maybe mortgage paid off ... I don't know. OTOH college costs alone make the US ruinously expensive.. $200K/kid perhaps... That's the point really - you need to look at full financial picture in the US - especially costs. Looking at income tells you nothing.

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Re:Portugal seeks to become low-tax haven for young people by CalRobert on Thursday October 10, 2024 @04:11PM (#41803010)

My alma mater is coming in around $16,000 a year or so for tuition, books, and fees - https://www.calpoly.edu/undergraduate-costs-attendance-2024-... . It's generally considered a not-terrible school. $200k is quite rare.

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Re:Portugal seeks to become low-tax haven for young people by arandomusername on Thursday October 10, 2024 @04:50PM (#41803450)

if you live in a major city in Europe you are going to also be paying $1M for a decent family sized house.

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