I am expat in south east asia and his comment is correct
low level officials taking bribes means you can do stuff like never wear a seatbelt, just pay the cop $20 USD if you get pulled over. get pulled up for smoking indoors? $20 USD. run over an illegal immigrant and kill them? USD 1000 to have their records completely erased. Sim card? $5 USD cash. rape? what? the police here hung up on my friend on a 911 call because they spoke english and not the 'national language' (police do speak english here).on a different note, it is legal to rape your wife here
low level corruption causes immense problems and injustices in society. here, everyone drink drives. driving a car while extremely drunk here is default behaviour.
ye high level official bribery will cause probelms, but the low level stuff is what completely craters the system and causes the catastrophic failures in complex engineering systems.
The "Pay-As-You-Earn" system was introduced in Australia and the UK during WW2 lol. The US has the same system its just been implemented extremely poorly
With $50m if your portfolio averages 4% a year you would be clearing $2m then pulling out $300k for 1.7 gain. You only pay tax on the income withdrawn