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by r0ckarong
768 days ago
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> The European economic model is set up for stability, not massive accrual of wealth. The American system is set up for transfer of wealth not accrual. You can FIRE with a couple millions dollars and it takes just one or two events to take all of that from you without you having a choice. How many thirtysomethings in Europe are buried under hundreds of thousands of Euros in medical and student loan debt? I think I'd rather pay of my half million mortgage while being protected in many many ways than facing complete wipeout just because "muh freedom". |
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Simply untrue when you look at the money made in stock options.
The transfer happens from the lower and middle to the elite; the same occurs in Europe, where the ultra rich pay almost no taxes after accounting for tailor-made subsidies. (To say nothing of Europe’s own mass of FIRE millionaires.)
> I'd rather pay of my half million mortgage while being protected in many many ways than facing complete wipeout
You’re not at risk of wipe-out from those risks in and above the upper-middle class, i.e the group who could reasonably support sending a child overseas for schooling. (Total emigration is a separate question.)