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San Francisco is just kind of stupid at this point. I have lived in the Bay Area since 1989 and I am leaving on Tuesday. Whatever benefits there are to being he
by jblow 10y ago
San Francisco is just kind of stupid at this point. I have lived in the Bay Area since 1989 and I am leaving on Tuesday. Whatever benefits there are to being here do not outweigh the huge monetary cost and substantial degradation of quality of life.
(And before you can thinking about paying rents or whatever, if you are in the top tax bracket, enjoy paying 13.3% state income tax, which, after Federal tax, is a staggering 22% of your income.)
- adamnemecek 10y agoWhere are you moving to?
- jblow 10y agoSeattle, and we'll see how that goes.
- scottlegrand2 10y agoUm, sadly, methinks you should have left 5 years ago. IMO Seattle is well on its way to being SF Junior with crappier weather and more expensive restaurants without SF's critical mass of talent.
- acedinlowball 10y agoHah! If your plan is to escape SF life by going to Seattle... Well... Good luck with that.
- empath75 10y agoIf you make a million dollars annnually.
- user5994461 10y ago22% of your income ONLY. OMG. Paying around 50% here (plus another many percent paid directly by the employer). Note that I'm in Europe.
- adviceadam 10y agoOP's numbers are off. If you make $1,000,000 a year in SF, you pay 45% of your income as income tax. If you make $10,000,000, it's just over 50%. I used this calculator: https://smartasset.com/taxes/california-tax-calculator#ysfEQYrShp https://smartasset.com/taxes/california-tax-calculator#ysfEQ...
- user5994461 10y agoIf you take it like that, my numbers are off as well. They were for the usual bracket of income :D If I make more than 200k€ here. The higher bracket is 58.75% of taxes (+66k€ paid directly by the employer to the state).
- SomewhatLikely 10y agoOP's 22% was of the amount remaining after federal taxes. After federal taxes, you would have about 65% of your income left, the state would take about 13.5%/65% = 21% of that.
- Ar-Curunir 10y agoI think the parent meant that 13% of total income = 22% of income after federal tax. Tax rates for the top income brackets in california aren't low either: ~40+%
- beisner 10y agoOP's dubious math aside, the US tax dollar doesn't really feel like it goes as far as it does in many European countries. Public transportation prices are extremely high nationwide, infrastructure is lacking, healthcare and education expenses will break the bank, and welfare programs don't really cut the mustard. Yes, a majority of Americans don't pay any income taxes; but a ~50% income tax in a country like Sweden feels like a fairer deal than an equivalent tax rate (and it does get this high for upper-middle-class incomes in many states) in the US.
- GreatPowers 10y agoYa but we have some pretty sweet military toys.
- gaur 10y ago> (And before you can thinking about paying rents or whatever, if you are in the top tax bracket, enjoy paying 13.3% state income tax, which, after Federal tax, is a staggering 22% of your income.) If the tax rates were less, wouldn't employers just pay employees less? What's the point of calling out the high income tax rates?