they're pointing out that the US is insanely stupid when it comes to healthcare and retirement. the stuff we do in this country is so much extra work/effort/cost and all of it comes at the worker's cost.
My reading was that nothing of that applies in Europe. No earning 6 figures, no way to invest pre-tax or in any other tax advantaged way, no way to optimize healthcare costs, early retirement unlikely.
Retirement accounts are a thing in Europe though. In Poland for example there's IKE and IKZE. IKE is a bit simpler of the two. If you hold your money on IKE until you're 60 you're not paying taxes on that. Can invest in stocks or bonds.
There are options to save extra for retirement, if you take a private pension or a bank account that you can't withdraw from until retirement for example; in that case, you don't pay wealth tax and only pay taxes when it starts paying out. Sometimes the money you put into it is tax deductible, too. But, that's in NL, I don't know anywhere else. Source: https://www.nibud.nl/onderwerpen/pensioen/pensioen-opbouwen/
6 figures is possible, there are/were some software companies (VC backed, US based, US startup style, FAANG) that pay that much, otherwise there's highly paid jobs like management, doctors/dentists, landlord, public motivational speaker, drug dealer, etc that can earn you that much. But it's not handed to you like it feels like it is in the US / SF, but I realize that's very much a unique bubble.
So yeah, basically none of your comment is true, it's just not talked about as much because our basic systems are alright for most people and few have the extra income to think about doing more with it.
they're pointing out that the US is insanely stupid when it comes to healthcare and retirement. the stuff we do in this country is so much extra work/effort/cost and all of it comes at the worker's cost.
they were being sarcastic.
My reading was that nothing of that applies in Europe. No earning 6 figures, no way to invest pre-tax or in any other tax advantaged way, no way to optimize healthcare costs, early retirement unlikely.
Retirement accounts are a thing in Europe though. In Poland for example there's IKE and IKZE. IKE is a bit simpler of the two. If you hold your money on IKE until you're 60 you're not paying taxes on that. Can invest in stocks or bonds.
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There are options to save extra for retirement, if you take a private pension or a bank account that you can't withdraw from until retirement for example; in that case, you don't pay wealth tax and only pay taxes when it starts paying out. Sometimes the money you put into it is tax deductible, too. But, that's in NL, I don't know anywhere else. Source: https://www.nibud.nl/onderwerpen/pensioen/pensioen-opbouwen/
6 figures is possible, there are/were some software companies (VC backed, US based, US startup style, FAANG) that pay that much, otherwise there's highly paid jobs like management, doctors/dentists, landlord, public motivational speaker, drug dealer, etc that can earn you that much. But it's not handed to you like it feels like it is in the US / SF, but I realize that's very much a unique bubble.
So yeah, basically none of your comment is true, it's just not talked about as much because our basic systems are alright for most people and few have the extra income to think about doing more with it.
Or, very smart for the establishment.
> the stuff we do in this country is so much extra work/effort/cost and all of it comes at the worker's cost.
The GP described tax optimizations for the highest earners. The idea that they would be better off in Europe is plainly ridiculous.