I've been working remotely for more than 4 years and never accept cost of living pay. Of course, I don't make Silicon Valley salary but I'm paid a reasonable rate based on my experience not where I live.
I'm about 2 years in on 100% remote. When I moved from one state to another did my employer care that my phone/Internet, my car insurance, my health insurance and cost of food was higher? Did they care that if I hire some guy to work on my house his rate is twice what it was where I used to be? No, and I didn't think they should care. I get paid what they think I'm worth. How and where I spend the money isn't their problem. So I agree, I don't make SV wages, but I sure can't complain - especially when I get to live where I want to live. It is hard to put a price on that.
